Tom Hanks’ Old Houseboat Is for Sale—So Why Aren’t Buyers Biting?

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Tom Hanks once lived in a houseboat? That’s right—a floating home in Alameda, CA, in fact—and it’s just hit the market for $600,000.

The backstory: Long before he skyrocketed to fame, the teenage Hanks humbly lived on this 1,152-square-foot, two-bedroom houseboat docked at Alameda’s Barnhill Marina. The place belonged to Hanks’ father, Amos, and his stepmother, Frances, and the family shared the space from 1973 to 1976, when Hanks was in his late teens.

Need proof? Hanks himself confirmed the rumor on Twitter and Instagram.

View this post on Instagram

It’s true. Lived on this from ‘73-‘76. Amos, Frances and me. Hanx.

A post shared by Tom Hanks (@tomhanks) on Oct 10, 2018 at 2:51pm PDT

We couldn’t help but wonder if this endorsement would attract dozens of eager buyers looking to get a little closer to Hanks. After all, the actor boasts 15.4 million followers on Twitter, and 5.4 million on Instagram.

But so far, that hasn’t helped at all, according to listing agent Angela McIntyre at Alain Pinel Realtors. McIntyre hosted two open houses this past weekend, and the turnout was “abysmal.”

Six potential buyers showed up on Saturday, while eight cruised through the home on Sunday. And of those 14 people, only one had seen Hanks’ social media posts. So far, those showings have not spurred any offers.

“You have no idea how disappointed I am,” McIntyre says. “I thought we were going to be mobbed.”

Why Tom Hanks’ old houseboat isn’t reeling in buyers

We can see why life on the water isn’t for everyone, but this property certainly has A-list appeal. So what gives?

Tom Hanks once lived on this floating home in Alameda, CA.

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The $600,000 price tag isn’t the problem, according to McIntyre, who also lives in the Alameda floating-home community.

“This is an incredibly fair price,” she says.

Compared with some of the other 42 homes in the Barnhill Marina, Hanks’ old home seems fairly priced. A 600-square-foot home in the community will typically sell for $400,000, and the largest 1,700-square-foot residences run for around $800,000.

McIntyre notes that the price won’t deter folks looking for a floating home—they’re willing to cough up the cash for the lifestyle.

“If you’re spending that money, you’re buying to live here,” she says. “You enjoy the water and want the ability to walk out your door and go paddleboarding.”

The rustic interior

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While Hanks’ old digs may in fact be reasonably priced, there’s one thing that could be scaring away potential buyers: After years on the water, the house clearly shows wear and tear.

The interior of the abode needs a complete overhaul, says Jordan Barkin, an agent with Harry Norman Realtors, an affiliate of Christie’s International Real Estate, in Atlanta.

“The residence’s lack of updated amenities will likely keep it from fetching top dollar,” he adds.

Hanks’ old digs include two bedrooms and one bathroom.

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The floating home’s living area, kitchen, and bedrooms are 45 years old, and their rustic looks won’t attract 21st-century buyers.

While the interior needs work, the exterior recently received a total renovation. The previous owners replaced all of the wood covering the house and hull—the nautical version of building a new foundation and a new roof. They also added a new fiberglass coating to the home, boosting its life expectancy by at least 35 to 40 more years.

As a result, McIntyre says, “The next owners can expect this home to last a lifetime.”

Even with these exterior updates, Barkin is skeptical another buyer will want to follow in Hanks’ footsteps.

“Buy the home for the view, but not much more,” he says.

The post Tom Hanks’ Old Houseboat Is for Sale—So Why Aren’t Buyers Biting? appeared first on Real Estate News & Insights | realtor.com®.

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