What? Above my Sea Dweller??? Come on!!! Hillsborough…Atherton, maybe. But Millbrae??? Please…
Any guesses on sale price? Over, below ask? Ask seems pretty steep for Homestead.
Way overpriced. Will crash back down to earth in due time.
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In ball park in terms of Price / sqft for sunnyvale .not upgraded …
West san jose isnow trending at $12/1300 / sqft…
Insantity prevails …
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Bill just wants a buying opp 
He needs a holiday party to cheer himself up.
You know me so well… 
Remember when the Merc wrote this breathless article about a Sunnyvale home selling for almost $2.5M or 800k above asking.
Well, 4 short years later, similar Sunnyvale homes like this one are selling for $3.5M, also 800k above asking. 
Where is the outrage, Mercury News? Or does the Merc and it’s readership no longer care…,
This house reminds me of my old hood in Evergreen. There are houses that look exactly like this. Lot is big for this house. SB9-ready!
It’s a big lot at 8200 sq ft, but not really too much bigger than the standard 6000-6500 sq ft lots in these neighborhoods.
The 2500 sq ft house pretty much straddles the lot. In order to bifurcate the lot using SB9 and build duplex/fourplex, the existing house will have to be significantly modified or torn down altogether. Pretty expensive, given that the new owner already paid $3.5M to buy this property.
Fast forward 10 years and 3.5M would just be pocket change for SV.
I am afraid you are right. In 10 years, these houses will be selling for $5-6M or more. But such extreme prices will create their own problems for the residents of these cities.
For example, homeowners in these cities will be disincentivized from selling due to the large cap gains tax and the fact that they cannot get the same leveraged appreciation from other investments. So, they are more likely to rent their houses out if they leave the area or move up. This will transform the SFH neighborhoods in cities like Sunnyvale into communities of young renters paying rent to older absentee landlords. That is not good in the long run…
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Ain’t is already like this? Those who came to SV earlier than the techies, paid less than $100k (some much less) for those ranches we are buying for few million dollars.
I think it is like this from day one of tech boom. Nothing has really changed, may be the percentage of renters is higher? I didn’t check. IIRC, when I first came to SV, the ownership is about 60-70%, did it creep higher?
I am speaking purely from anecdotal evidence, not statistical. Earlier (Pre-pandemic), whenever I noticed a moving van in my SFH neighborhood, chances were 50/50 that the house would subsequently be listed for rent vs listed for sale.
But in past 6 months (I.e., post pandemic), I have noticed at least 6 families on my street alone moved out. I know that at least 4 of these 6 were owners. None of these houses have been listed for sale. The owners have each elected to put up the houses for rent, typically around $5k per month (as seen in Zillow). The listing disappears within 2 weeks, and a new family - mostly with young kids and fancy cars (Lexus, BMW, Tesla) moves in another couple of weeks later. Young, prosperous techie families are renting these houses.
Owners have probably locked in super cheap 30 year fixed mortgages and become absentee landlords. Either they moved up to better neighborhoods or out of town/country, I don’t know…
The realtor Dave Clark is trying to sell Sunnyvale first $4M + home. The timing is curious - why bring it on the market in this dead zone between Thanksgiving and Christmas? Why not wait a few months until spring 2022 to list it…
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The popular view going around is price appreciation in anticipation of rise in mortgage rate and then a drop or plateau in price later. So sell now when there is a rush to buy is good timing.
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But would it not peak in spring? That is spring 2022 price will be higher than winter 2021 and summer 2022?
When real estate corrects, it corrects hard and stays below market for at least few years.
Most expensive home sold in Sunnyvale ever - ATH. Wonder in Mercury News and others will write about it “Homes in former middle class neighborhood now selling for $4.75M 
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