Ziprealty.com emailed me a new listing in Sonoma today, which is odd since I don't subscribe to new listings- however, the description got my attention. Unfortunately, there is no picture yet, so I may have to venture out with my camera to prove my hunch is likely correct that this may be a real live POS Alert.
337 ARROYO RD, Sonoma, CA 95476
On Market: 1 day
Price Reduced: 04/20/06 -- $455,000 to $449,900
oh look at that... so perhaps this is not a new listing after all?
An unbelievable opportunity...Two houses for less than the price of one. Motivated seller has made these two charming cottages on one oak studded lot better than ever. Both cottages have been extensively remodeled. Private yards and a really cute setting. Ideal for an investor, owner/occupant, or extended families. Private laundry for each home. A great value for all. Separate gas and electric meters.
Zillow sez: $462,081
Value Range: $402,010 - $508,289
1 week change: Down -$23,464
Last updated: 03/25/2006
1 yr ago value: $367,00
oops... this doesn't look much like a motivated seller to me, more like a flipper trying to make a quick buck before the market tanks completely. This will definitely warrant a drive by tomorrow to get pictures to see what kind of improvements if any have been done.
Did y'all catch that 1997 sale price... $28,500 in Sonoma...?
Tax Assessment History 2004
Property tax: $2,598
Assessed value bldgs: $71,021
Assessed value land: + $68,730
Total assessed value: = $139,751
This home at $462,081 is valued higher than:
• 5 % of homes in 95476 ZIP code (Median) $670,339
• 11 % of homes in Sonoma County (Median) $605,918
In the Past 30 days...
This home value declined: -9.7%
Sonoma Valley home values declined: -2.4%
Sonoma County home values declined: -3.6%
We have pictures! Looks like there was a coat of paint put on these "cottages" and someone sprung for a window box style window... see for yourself.