{"id":13559,"date":"2010-12-06T07:00:16","date_gmt":"2010-12-06T15:00:16","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=13559"},"modified":"2011-12-23T10:55:45","modified_gmt":"2011-12-23T18:55:45","slug":"the-avondale-albatross-now-bank-of-americas-problem","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/","title":{"rendered":"The Avondale Albatross Now Bank of America&#8217;s Problem"},"content":{"rendered":"<p>The saga of the <a href=\"http:\/\/www.redfin.com\/WA\/Woodinville\/13425-Avondale-Rd-NE-98072\/home\/2083895\">Avondale Albatross<\/a> continues&#8230;<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2010\/12\/avondale-albatross.jpg\" title=\"The Avondale Albatross\" rel=\"lightbox[13559]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2010\/12\/avondale-albatross-600x450.jpg\" style=\"border: 0;\" title=\"The Avondale Albatross - Click to enlarge\" alt=\"The Avondale Albatross\" width=\"600\" height=\"450\" \/><\/a><\/p>\n<p>A brief history of this 4,900 sq. ft. spec home on 3 acres north of Redmond:<\/p>\n<ul>\n<li>2006-06: Originally spotted here, <a href=\"http:\/\/seattlebubble.com\/blog\/2006\/06\/09\/most-ridiculous-item-of-the-week\/\" title=\"Most Ridiculous Item Of The Week\">priced at $1,625,000<\/a><\/li>\n<li>2006-08: <a href=\"http:\/\/seattlebubble.com\/blog\/2006\/08\/30\/anecdote-updates-yawa\/\" title=\"Anecdote Updates &#038; YAWA\">Price drop to $1,495,000<\/a><\/li>\n<li>2006-10: <a href=\"http:\/\/seattlebubble.com\/blog\/2006\/10\/23\/anecdote-extravaganza\/\" title=\"Anecdote Extravaganza\">Price drop to $1,275,000<\/a><\/li>\n<li>2006-11: New brokerage, <a href=\"http:\/\/seattlebubble.com\/blog\/2006\/11\/20\/an-anecdotal-update-or-two\/\" title=\"An Anecdotal Update (Or Two)\">still asking $1,275,000<\/a><\/li>\n<li>2007-02: After 9 months on the market, finally <a href=\"http:\/\/info.kingcounty.gov\/Assessor\/eRealProperty\/Detail.aspx?ParcelNbr=1926069030\" title=\"King County Assessor Property Report: Parcel# 1926069030\">sold for $1,275,000<\/a><\/li>\n<li>2007-12: Time to flip! <a href=\"http:\/\/seattlebubble.com\/blog\/2007\/12\/13\/anecdote-this-place-again-seriously\/\" title=\"Anecdote: This Place Again? Seriously?\">Listed by buyer for $1,650,000<\/a><\/li>\n<li>2008-03: Price drop to $1,590,000<\/li>\n<li>2008-04: Price drop to $1,550,000<\/li>\n<li>2008-05: Price drop to $1,490,000<\/li>\n<li>2008-06: Price drop to $1,450,000<\/li>\n<li>2008-08: Taken off-market unsold<\/li>\n<li>2009-04: Re-listed at $1,500,000<\/li>\n<li>2009-06: Price drop to $1,200,000<\/li>\n<li>2009-06: Price drop to $1,000,000<\/li>\n<li>2009-07: Taken off-market unsold<\/li>\n<li>2010-10: Sold back to bank at foreclosure auction for $711,535<\/li>\n<\/ul>\n<p>Can&#8217;t say I&#8217;m surprised.  I could hardly believe it sold in 2007.  Looks like the spec builder lucked out and just barely passed the buck to some poor sucker who was left holding the bag when this home eventually met its inevitable fate.<\/p>\n<p>It will be interesting to see what this place sells for as an REO in today&#8217;s more rational market.  Any guesses?  For comparison, it&#8217;s <a href=\"http:\/\/info.kingcounty.gov\/Assessor\/eRealProperty\/Dashboard.aspx?ParcelNbr=1926069030\">currently assessed<\/a> at $894,000, and <a href=\"http:\/\/www.zillow.com\/homedetails\/13425-Avondale-Rd-NE-Woodinville-WA-98072\/48768634_zpid\/\">Zillow&#8217;s got it<\/a> at $925,500.  I think both of those might be a little optimistic, especially considering that a bid of $725,000 would have bought it from the bank at auction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The saga of the Avondale Albatross continues&#8230; A brief history of this 4,900 sq. ft. spec home on 3 acres north of Redmond: 2006-06: Originally spotted here, priced at $1,625,000 2006-08: Price drop to $1,495,000 2006-10: Price drop to $1,275,000 2006-11: New brokerage, still asking $1,275,000 2007-02: After 9 months on the market, finally sold&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[206],"tags":[5,825,7,60],"coauthors":[],"class_list":["post-13559","post","type-post","status-publish","format-standard","hentry","category-features","tag-anecdote","tag-avondale-albatross","tag-foreclosures","tag-speculation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Avondale Albatross Now Bank of America&#039;s Problem \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Avondale Albatross Now Bank of America&#039;s Problem \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"The saga of the Avondale Albatross continues&#8230; A brief history of this 4,900 sq. ft. spec home on 3 acres north of Redmond: 2006-06: Originally spotted here, priced at $1,625,000 2006-08: Price drop to $1,495,000 2006-10: Price drop to $1,275,000 2006-11: New brokerage, still asking $1,275,000 2007-02: After 9 months on the market, finally sold...\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2010\/12\/avondale-albatross.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@The_Tim\" \/>\n<meta name=\"twitter:site\" content=\"@SeattleBubble\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The Tim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/\",\"url\":\"https:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/\",\"name\":\"The Avondale Albatross Now Bank of America's Problem \u2022 Seattle Bubble\",\"isPartOf\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2010\/12\/avondale-albatross-600x450.jpg\",\"datePublished\":\"2010-12-06T15:00:16+00:00\",\"dateModified\":\"2011-12-23T18:55:45+00:00\",\"author\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\"},\"breadcrumb\":{\"@id\":\"https:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/#primaryimage\",\"url\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2010\/12\/avondale-albatross.jpg\",\"contentUrl\":\"https:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2010\/12\/avondale-albatross.jpg\",\"width\":\"1024\",\"height\":\"768\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/seattlebubble.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Avondale Albatross Now Bank of America&#8217;s Problem\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#website\",\"url\":\"https:\/\/seattlebubble.com\/blog\/\",\"name\":\"Seattle Bubble\",\"description\":\"local\u00a0real\u00a0estate\u00a0news, statistics,\u00a0and\u00a0commentary without\u00a0the\u00a0sales\u00a0spin.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/seattlebubble.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/7de7c0dd14bee1a2c67f7ce86bc4505f\",\"name\":\"The Tim\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/seattlebubble.com\/blog\/#\/schema\/person\/image\/37756956c11dcc50d2559761ffa5ee70\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/19e5770990a1681615608091b2de571b10c3e03bbac7d07bb2ae15297ee72fbc?s=96&d=retro&r=g\",\"caption\":\"The Tim\"},\"description\":\"Tim Ellis is the founder of Seattle Bubble. 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