Looking at the Cambrian home which was sold for 1.28M in 2017 and listed for 1.35M month ago. It has reduced price to 1.2M, less than original purchase price. Either they way over pay in 2017 or market has really gone down in this area.
https://www.redfin.com/CA/San-Jose/2823-Quinto-Way-95124/home/1108223
Has reduced price 3 times and still no buyer! South Bay RE is in bigger trouble than I realized… 
Yup …there are homes in cupertino and los altos with price cuts. For one specific home in Cupertino it backs into 85 so that explains some of it …yet …
The demand this year is lower. In 2018 which was the PEAK year for South Bay SFH sold/asked ratio was 115%. Today sellers get asked price with 1 or 2 offers. Areal price cost( $/sf) dropped -16% from 2018 spring. Those sellers expect same trend are not with reality.
Marketing time in this neighborhood is twice these days. Last weekend I saw 12 OH signs on 1 street.
I guess the seller overpaid especially given that the home is right next to high voltage power line.
There is no high voltage line next to the home. Its two street down. Does it still considered close ? It is one of the high-traffic street though
I know no one can time the market, but need some expert/old-timers perspective.
There is no major change in economy. Stock market is on side-line but not bad as december. If this is begining, how bad can it get when economy/stock market take deep dive. When you read news all you see negative news about affordability in bay area so wonder if 2-3% Annual growth in longer term 10 year from now is still feasible from today’s price point.
We have property in willow-glen, still qualify for home owner tax exemption. Its on market for 2 weeks with no offer, much better condition and priced at market value. Wondering if we should rent it out. Expecting rent to be $700-$900 more than PITI.
How do you see San Jose zoning changes and future housing development/supply will affect the price in Willow-glen ? Recent announcement by google to build affordable housing by re-zone commercial properties to residential zone.
What’s your thought on Millennial generation not being interested in Sub-urban home and may prefer urban living.
High voltage power line is located between custer and la jolla if i remember correctly.
I looked at this neighborhood but passed because of power line. Any house within 1000ft of high voltage power line is no go for me.
Anyway, it may be LA’s new strategy to attract more buyers.
This similar home was recently sold at 1.3M.