Another decent < 2M in Palo Alto

DOM: 38 days. I was at one of the open house. Attic space is a bit limited, but good location and lot, IMO. Is market actually cooling?

https://www.redfin.com/CA/Palo-Alto/567-Barron-Ave-94306/home/1732077

I still remember @elt1 badmouthing Barron Park in the old forum… :slight_smile: Looks like a very decent house. PA is indeed cooling. What’s the chance someone can pick it up for under 1.8?

Appreciation in PA is not much faster than Sunnyvale.
$640k to $2 mil, from 1999 to now.

https://www.redfin.com/CA/Sunnyvale/1225-Lynn-Way-94087/home/1488129
$520k to $1.6 mil, from 2000 to now.

The house above is still active on market, and now another one join the < 2M club after 200K price drop.
https://www.redfin.com/CA/Palo-Alto/936-Dennis-Dr-94303/home/1510349

PA is climbing down from its peak.

SOLD!! 2M even steven. So we now know an actually livable house can be had for 2M in PA. :raised_hands:

1 Like

Sold below zillow’s estimate of $2.147 mil and redfin’s estimate of $2.149 mil i.e. more than 9% below estimates.

$2m and not even a garage. …still seems high… on Dennis dr

Yea. The peak year was summer 2015. Wait until interest rates raise is announced.
See threads below:
How much is my PA worth?


Sam Shueh realtor

SF SFH better crash in 2017. I want to buy one or two… :smiling_imp:

1 Like

Post-Trumps, RE appears to be active again.

In contract on my last Stockton flip…There is life after Trump…Stocks up, inventory down…Who really cares about PA?

With finance deregulation and tax reduction across country, stocks will boom. Real estate follows stocks.

So far, Both Yellen and Trump support raising FED rate. If they raise FED rate, current 4.25% goes to 4.5 or 5% and eventually reach 6%. In such case, economy and real estate falls. It is very likely hurt Trump’s Base people, poverty line level.

Knowing this, after taking president position, will Trump maintain the same position on Rate raise? We have to wait and see.

FED rate and Trump’s future financial policy matters a lot.

Some reporting on our fav city down the peninsula…

https://www.ft.com/content/21664ac0-b7af-11e6-961e-a1acd97f622d

This article is about the super premium market…thin and uninteresting for 99.99% of the rest of us…
Of late, however, the jewel has lost some of its lustre. Homes in Palo Alto worth more than $4m gained 6.8 per cent in the year to October 2015, then lost 7.6 per cent over the next 12 months, according to data from Multiple Listing Services. And buyers are not moving to snap up the fanciest homes with the appetite they once were. In the 12 months to October, homes in the $4m-plus bracket spent an average of 16 days on the market before a buyer could be found. Hardly an age, but in both previous 12-month periods wealthy buyers had been quicker on the draw, snapping up homes within 10 days on average.

Meanwhile Atherton is up 45%…these statistical aberrations mean little to the whole market