The reasons can be hard to pin point but in all likelihood tied to the decrease in home values over the past two years which has created a hard to bridge rift between the price expectations of sellers and buyers. In the case of a foreclosure it appears that some banks are unwilling to lower the price since they may hold multiple properties and would devalue other properties as well.

I think this particular area of Richmond has some problems such as higher crime rates and lower rated schools. The building also appears to be close to Amtrak. At the same time there are new developments in that area and housing prices will be significantly lower than elsewhere in the Bay Area.

The Richmond Police has an interactive crime map that might help you assess the crime rate.

Vernaedwards,

I can't find this address any where. Are you sure this is the right address? Do you know what the asking price of the house is? If you can get me this information, I'll be able to help you.

Thanks Veraedwards, and you have a Great day.

Jerry Flynn
Old West Realty Inc.
925-820-6550
oldwestinc@yahoo.com
http://housebiz.ca