{"id":21247,"date":"2012-08-21T08:30:35","date_gmt":"2012-08-21T15:30:35","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=21247"},"modified":"2012-08-21T08:47:08","modified_gmt":"2012-08-21T15:47:08","slug":"avondale-albatross-finally-unloaded-at-52-of-07-price","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2012\/08\/21\/avondale-albatross-finally-unloaded-at-52-of-07-price\/","title":{"rendered":"Avondale Albatross Finally Unloaded at 52% of &#8217;07 Price"},"content":{"rendered":"<p>It&#8217;s time for what will most likely be our final update on the <a href=\"http:\/\/seattlebubble.com\/blog\/tag\/avondale-albatross\/\" title=\"avondale-albatross\">Avondale Albatross<\/a>, the storied spec home first spotted on these pages in <a href=\"http:\/\/seattlebubble.com\/blog\/2006\/06\/09\/most-ridiculous-item-of-the-week\/\" title=\"Most Ridiculous Item Of The Week\">June 2006<\/a>, and most recently <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/\" title=\"The Avondale Albatross Now Bank of America's Problem\">foreclosed by Bank of America<\/a>, who had been attempting to unload it since last November.<\/p>\n<p>According to the MLS, yesterday Bank of America was finally successful in their quest, finding a buyer at $663,087&mdash;just 52% of what it sold for in February 2007.<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/www.redfin.com\/WA\/Woodinville\/13425-Avondale-Rd-NE-98072\/home\/2083895\" title=\"The Avondale Albatross: 13425 Avondale NE Woodinville, WA 98072\"><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: 13425 Avondale NE Woodinville, WA 98072\" alt=\"The Avondale Albatross: 13425 Avondale NE Woodinville, WA 98072\" width=\"600\" height=\"450\" \/><\/a><\/p>\n<p>Here&#8217;s the history of this 4,900 sq. ft. spec home on 3 acres a bit 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: <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/12\/06\/the-avondale-albatross-now-bank-of-americas-problem\/\" title=\"The Avondale Albatross Now Bank of America\u2019s Problem\">Sold back to bank<\/a> at foreclosure auction for $711,535<\/li>\n<li>2011-11: <a href=\"http:\/\/seattlebubble.com\/blog\/2011\/12\/23\/40-off-and-counting-for-the-avondale-albatross\/\" title=\"40% Off and Counting for the Avondale Albatross\">Back on the market<\/a> at $782,100<\/li>\n<li>2011-12: Price drop to $742,995<\/li>\n<li>2012-01: Price drop to $705,845<\/li>\n<li>2012-06: Sale Pending<\/li>\n<li>2012-08: <a href=\"http:\/\/www.redfin.com\/WA\/Woodinville\/13425-Avondale-Rd-NE-98072\/home\/2083895\" title=\"The Avondale Albatross: 13425 Avondale NE Woodinville, WA 98072\">Sold for $663,087<\/a><\/li>\n<\/ul>\n<p>Nearly a million dollars under the price that I originally called out as &#8220;ridiculous&#8221; <a href=\"http:\/\/seattlebubble.com\/blog\/2006\/06\/09\/most-ridiculous-item-of-the-week\/\" title=\"Most Ridiculous Item Of The Week\">back in 2006<\/a>.<\/p>\n<blockquote><p>Asking price: $1,625,000.  Most recently sold in: October 2004 (as an empty lot).  Most recently sold for: $350,000.  Days on the market: 23.  I don&#8217;t know how much it costs to build a 5,000 sqft home and do all that fancy landscaping, but my gut check tells me that this asking price is a tad on the greedy side. I mean, just a few years ago I remember walking through nearby neighborhoods with comparable homes listed in the $600k-$800k range.<\/p><\/blockquote>\n<p>It took a few years, but it looks like my value prediction for this home was pretty spot-on.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s time for what will most likely be our final update on the Avondale Albatross, the storied spec home first spotted on these pages in June 2006, and most recently foreclosed by Bank of America, who had been attempting to unload it since last November. According to the MLS, yesterday Bank of America was finally&#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],"coauthors":[],"class_list":["post-21247","post","type-post","status-publish","format-standard","hentry","category-features","tag-anecdote","tag-avondale-albatross"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Avondale Albatross Finally Unloaded at 52% of &#039;07 Price \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\/2012\/08\/21\/avondale-albatross-finally-unloaded-at-52-of-07-price\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Avondale Albatross Finally Unloaded at 52% of &#039;07 Price \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"It&#8217;s time for what will most likely be our final update on the Avondale Albatross, the storied spec home first spotted on these pages in June 2006, and most recently foreclosed by Bank of America, who had been attempting to unload it since last November. 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