Friday, June 20, 2008
833 Locust Avenue - $549,900.00
5 Bedrooms, 2 Bathrooms
Sq. Ft.: 2,200
Year Built: 1928
This nice brick Colonial on a double lot in a good neighborhood went on the market June 15. The listing says there's a "newly finished terrace level, new gas furnace, cac, electrical and plumbing."
Real C'ville ran right out to look. We wanted to see what a HALF MILLION DOLLARS for 833 Locust Avenue looks like, as compared to the Half Mil Askings over at 702 Belmont and 1316 Oxford Place.
When we did our homework, however, we got dizzy. These sales numbers for 833 Locust Avenue are recorded online:
= a difference from yr. 1997 of $64,000
increase of 52%
= a difference from yr. 2000 of $232,500
increase of 124%
Between 1997 and 2005--eight years--833 Locust Avenue gained 241% in "value."
That the OFHEO had already declared Charlottesville overvalued by 25% in 2004 is entirely irrelevant here.
The Asking Price is 30% over previous sale. Even with the "new" this and that in the listing, our eyebrows are raised. So Real C'ville is wondering: Were robot maids installed? Or was our other fave home improvement added, 18K bathroom fixtures?
Hello? Has anybody connected with 833 Locust Avenue picked up a newspaper, surfed the 'net, flicked on the cable in the past year? It's 2008. We're particularly intrigued, given the identity of the Current Owners.
Though maybe the asking is savvy: this is the kind of house the "foreign money" goes for--the New Yorkers--when they're not slummin' over in Belmont.
Tell Real C'ville what we're missing here.