At any point of time, market is always right but may not be right a few years later. So not sure what are you getting at.
This house is underpriced.
Jil,
How much are you willing to bid for? I would go for $1.88 mil.
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We decided to sit out on that one too.
You are more generous than me. I was thinking $1.78m.
Have been enjoying this thread since it is in my closely watched area too. But I have to say I am happy with inventory coming in last two weeks for Homestead High & Cupertino High. There was a point that I know every house addresses and details. I donāt right now and I am glad thatās the case.
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No worries, Iām not looking for house. Just a bid that I think I should win. Your bid is what I thought the highest bid would be, so I add $100k to be sure. That is, if I want to win.
At 2M per house, 500 houses = 1B.
There are easily 500 houses just in the Chevy Chase neighborhood of Sunnyvale. So Chevy Chase is a unicorn. 
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When will Cherry Chase going IPO? 
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Me too, not looking for such expensive school district area. I may be wrong on valuing this home, but 1.78M is too low. It may fetch any price more than $1.825 M.
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It seems the extremely rapid ramp of Sunnyvale house price is due to commute traffic, i.e. itās a major pain to drive the all-jammed-up 85 and 101. What will happen in 5 or 10 years when we have driverless cars coordinating with one another and potentially greatly improve traffic flow?
Will 85 and 101 suddenly flow super smooth? What will happen to Sunnyvale prices?
Is buying into Chevy Chase today a bet against AI? 
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Yeah hoping the crazy over bidders find their home and we can go back to more thoughtful bidding processing
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Those people are always around. There are only two ways to get decent house at decent price, buy a fixer-upper and fixed up yourself or buy a well maintained (no expensive re-modeling, no fancy staging, no expensive looking appliances) house that is listed at market price (too low attract multiple bids and one is likely to overbid, ironic. too high no bidding).
I heard that it went over 2M 
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It means none of us is able to buy any houses this Spring. I would outbid Jil and Myo all the time, but still canāt win. Based on recent comp, is about $1.96 mil, when I say $1.88, didnāt bother to check comp, just from memory.
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Buy a house that is not desirable, thus avoid bidding:
- House with big foundation issue
- Tenant occupied not yet moved out
- Huge termite issue
- Bad school district
- On busy street or backed up to the highway
- Sloped or uneven lot, small lot
- County lien against unpaid property tax
- Unfriendly neighbors
- Someone died in the house within past couple years
- House with bad feng shui, numbered 4, 44, 444ā¦
A house with all 10 of the qualities above will get you the incredible deals in the Bay Area. Start looking!!!
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Gosh, interesting list there @wuqijunā¦
What can I say, @Jane, if the price is dirt cheap and if I could make a few dollars on the property I might entertain it despite the bad mojo there. I would certainly look into improving the feng shui as best as I can. See this advice:
Unless you use Cantonese on a daily basis, I would suggest not to worry about it. If you do worry about it, you can use the traditional feng shui cure for number 4, which is to encircle the number in color red.
Being the color of the fire feng shui element, red is considered to protect from misfortune and help attract good luck. You can also apply other feng shui house protection cures that make sense to you.
Letās just say, that house would be the most freaking red house anywhereā¦
Now, going back to @wuqijunās interesting list, I must say the only one that is clear cut a NO-NO for me is #5. You simply can not at any price fix that. The others, if selling price can account for the defect completely or partially, at least you can break out your pencil and see if it makes sense financially to you. Schools can improve and your neighbors might move away once you break out massive durian eating parties. Now, #9 is an interesting one. That one needs some clarification. I think it is ok if it is a natural death, say a 90 year old lady. Hey, long lived life there. Just no murders or suicidesā¦
Busy street and backed up to the highway is never a problem for me. Instant price reduction!!! Tons of people wouldnāt mind living there. Only caveat is that if you do mind and you are thinking about making that your primary residence one day.
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Used to live near a traffic junction, four bus stops, a MRT stationā¦ so is extremely noisy. But the other half donāt want to, so no busy road 
Of course, pricing can cure this one too if you really think about it but in reality (as opposed to some of the other items on the list) the pricing is not going to be ever soooo low. To me, it is like the car thief mentality. Why fiddle with a car with an alarm and club on steering wheel when there are other cars nearby that are way easier to steal? I just feel that you can put all that energy and money in there and it still probably would not appreciate greatly LT due to that big mole there. If it works great for you, whom am I to say it couldnāt work? I just prefer reasonably attackable projects if it is one.
Yes. Any of the items on my list would work as investment property, but as primary residence they suck big time.
Well, life is all about trade offs. You want that perfect house you got to pay the premiumā¦
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