The property you referenced on Amberly – it looks like a little bit of a fixer-upper to me – but if you went inside it you would know better. It was listed as a trustees’ sale, with “lots of potential”. It seems that the agent / sellers were absolute idiots when they tried to list it at $600,000, or even anywhere in the 500’s. The one that sold recently at $515,000 on the same street was the same two bedroom model, and it looks to me from the pictures on the MLS that it had a lot more market appeal.
The sale price at $415,000 looks to be well below the current market value. This property is in the San Carlos / Del Cerro area, and there are recent sales and pending sales in the inferior and nearby Allied Gardens area in the mid 400’s.
Is it possible that there was something seriosly wrong with the property? There are some properties nearby with cracked slab problems, especially on Margerum Ave.
