You can own prime property in this Bay Area city for $400,000 but there's a catch...

In the never-ending saga of wildly priced Bay Area real estate, this one might be the most shocking of all. For $400,000, you can own prime property in Alameda... but it's all underwater. abc7ne.ws/452wHmz
#realestate #home #housing #housingmarket #realestatemarket #california #abc7news

Пікірлер: 45

  • @daveandfuji
    @daveandfuji23 күн бұрын

    From $7K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.

  • @SuzanneKasky

    @SuzanneKasky

    23 күн бұрын

    I agree just reached my goal of $300k monthly trade earnings. Setting realistic goals is an essential part of trading.

  • @ChristopherJ.Andrade-Lopes

    @ChristopherJ.Andrade-Lopes

    23 күн бұрын

    Some times last week I tried trading all alone, but ended up loosing $3K

  • @HelenOlson901

    @HelenOlson901

    23 күн бұрын

    Please educate me, i'm willing to make consultations to improve my situation.

  • @CindyFoster1

    @CindyFoster1

    23 күн бұрын

    Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Georgette wong.

  • @HelenOlson901

    @HelenOlson901

    23 күн бұрын

    How can I participate in this? I sincerely aspire to establish a secured financial future and am eager to participate. Who is the driving force behind your success?

  • @brianp5205
    @brianp520523 күн бұрын

    It was bought a year ago for 100k. No work done and now wants 400k. This is why everyone is homeless.

  • @946towguy2

    @946towguy2

    22 күн бұрын

    The lot has about 800sf above water with 38' of street frontage from the neighbor's wall to the bridge. Someone could probably get about 4000 sf above water without blocking the channel IF the Army Corps of Engineers and the city allowed the infill. Otherwise, the entire house would need to be on stilts. Even then, I would probably price the lot at no more than $180k as it is. I think his best option is to try to sell it to the neighbor.

  • @Westcoastguy
    @Westcoastguy23 күн бұрын

    I'm sure the city and state will do everything possible to tax the sh*t out of that property too.

  • @bbmak0
    @bbmak023 күн бұрын

    $400k for more headache. Difficult to fix and repair, will flood during big storm, HOA & insurance are not cheap.

  • @karlad4082
    @karlad408223 күн бұрын

    This seller thinks we’re all that shtupid! 😂

  • @philipbanks2462
    @philipbanks246223 күн бұрын

    I wish they had touched on the history of how this plot came about. After studying old maps I learned that where Grand St. meets the lagoon was the original shore line of Alameda. Everything on the other side of the lagoon was build on landfill and the houses on either side are clearly from two different eras of America. Good job at the previous owner finding a sucker to buy

  • @946towguy2

    @946towguy2

    22 күн бұрын

    That lot was originally intended on the 1957 development plan to have a house built on it, but the Army Corps of Engineers decided that the developers needed to keep a 60' wide channel open for the Western portion of the inner estuary as it was not going to connected to the bay across Westline Drive. They logically should have split the lot to make a 40' wide buildable lot and have the HOA lot absorb the channel portion. But laziness. Then the original buyer sold it to someone in 1969, right before the state ban on filling in tidelands took effect. It has been undeveloped, except for a fence and the planting of a palm tree and landscaping on the 800 sf above water along the street.

  • @MrYfrank14

    @MrYfrank14

    22 күн бұрын

    In Republican free states, this is called a scam, selling swamp land. You get aressted for it. In the Democrat occupied zones, it is just business. Have you seen some of the crawl spaces in CA they call apartments? You can clearly see where it was not designed as a living space. You have to step over structural support members. Democrats allow it because they make money renting the places to people they hate, minorities and Jews.

  • @user-pi2lq
    @user-pi2lq23 күн бұрын

    There is a sucker every day

  • @davidwright873

    @davidwright873

    23 күн бұрын

    Barnum said that....

  • @robertlowe5697
    @robertlowe569723 күн бұрын

    The owner now is subject to annual property taxes. If he gets tired of paying it, the City will auction it off for tax default. Btw, there's many underwater plots in SF at the SF tax lien auction.

  • @946towguy2

    @946towguy2

    22 күн бұрын

    County, but yeah.

  • @TheWolfHowling
    @TheWolfHowling20 күн бұрын

    Rather than building a permanent structure, I would just moor a houseboat there, presuming landside access could be secured

  • @nancymcmonarch
    @nancymcmonarch23 күн бұрын

    Alameda's a darling little town, but it's just too close to sea level. Everyone I've ever known who's lived there has had problems with mold, if not floody cellars.

  • @SL-lz9jr

    @SL-lz9jr

    22 күн бұрын

    Mold is a big issue in the Bay Area in general. It’s annoying.

  • @jayscott9860
    @jayscott986023 күн бұрын

    I heard they were underwater on their mortgage

  • @rabbott9938
    @rabbott993823 күн бұрын

    Too bad theres not a cool underwater house

  • @JaneTheDoe-id2vx
    @JaneTheDoe-id2vx22 күн бұрын

    well i guess you could say the guy is underwater his mortgage

  • @RSmith-fb4sf
    @RSmith-fb4sf22 күн бұрын

    who's going to be stupid enough to buy that property

  • @ashtonsmirh8583
    @ashtonsmirh858322 күн бұрын

    Put a House boat there

  • @JaneTheDoe-id2vx
    @JaneTheDoe-id2vx22 күн бұрын

    if i was a fish i still wouldn’t buy it

  • @handibode
    @handibode21 күн бұрын

    Stupid insanity. Just mocking us all.

  • @18chasefuller
    @18chasefuller23 күн бұрын

    Put house boat in it

  • @nancymcmonarch

    @nancymcmonarch

    23 күн бұрын

    That's what I was thinking too. Might be kind of shallow for that, though.

  • @946towguy2

    @946towguy2

    22 күн бұрын

    @@nancymcmonarch Yeah, about 900sf is above the high tide mark, over 4500sf is inter-tidal and about 4000sf is below the low tide mark. See the Google imagery from 5/2015. The only realistic way to build would be on pilings. $150k is a reasonable price for the property.

  • @nancymcmonarch

    @nancymcmonarch

    22 күн бұрын

    @@946towguy2 And doofus who bought it sight unseen is seriously hoping to flip it for $400K. Just, what?!?

  • @946towguy2

    @946towguy2

    22 күн бұрын

    @@nancymcmonarch Buying it sight unseen was pretty stupid, but people do that often enough. Then they try to protect their egos by telling themselves that they are going to make a huge profit. I've bought vacant land and resold it for profit, but I've also lost money when I paid too much or didn't consider highest and best use (HABU) and do a CMA before purchase. I personally looked at the lot when it was up for auction and like many others, decided it was not a sound investment. The family who gave it up for unpaid property taxes didn't think it was worth redeeming. The subdivision was created in 1957 on what was previously tidal flats and that lot was supposed to have a house on it. However, the channel ended up on a part of it. It was purchased in 1969, right before the state ban on filling went into effect, so the oly way to build a house would be on stilts.

  • @susierosenquist3920
    @susierosenquist392023 күн бұрын

    Houseboat!!

  • @White.RabbitRecords
    @White.RabbitRecords23 күн бұрын

    😂400k is cheap?

  • @SL-lz9jr

    @SL-lz9jr

    22 күн бұрын

    In CA and especially the major cities, it sure is!

  • @946towguy2

    @946towguy2

    22 күн бұрын

    Is the lot had 4500sf of dry land instead of 800, it would be worth about that.

  • @countscapula4899
    @countscapula489923 күн бұрын

    Good by world

  • @suckaducka5607
    @suckaducka560721 күн бұрын

    correction! Asking price is $400k. After bidding war, it’s gonna be $1.9M. How much $$$ do you have in your war chest?

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