Low listing,799k, within 5 hours 160 Favorites in Redfin

This Campbell home is deliberately low listed. I see within 5 hours 160 Favorites in Redfin

Redfin estimate is 762K

Redfin estimate is crap. They just fudge the asking price by some random small number and call it their estimate. And they will shamelessly move their estimate to very close to the selling price once they see it. So if you are not paying attention their estimates always seen close to the actual number. But they are not.

2 Likes

There is a reason for 160 (now 164) favorities…Schools are 9-9-9 range, Los Gatos border, bigger size lot (9.5k).
3 bed room, 2 bath with almost 2000 sqft.

This is premium at that location

Normally, If such low listing is there, some issues like death with 3 years or probate…etc may be there.

However, the area is too good and wild offers will be there.

1 Like

I favorited it also, no interest to buy, just curious how much it’ll sell.

Jil has increased its fav count by 3%

3 Likes

Putting you on the spot here. So what do you think this will go for? :wink:

Near by two homes are sold, one 2bd for 906k and another 3bd for 1.3M. On any case, with current market, this may easily go above 1M, most likely at 1.2M range (I do not know inside condition - looks like fixer).

If someone gets less than 1M, it is a steal .

1 Like

Only one picture and from the description = FIXER baby!!! Need to factor in potentially full gut job remodel. I will go with $1,028,888, of course…:grin:

1 Like

Some of the low listing are going crazy nowadays

LP=888k, SP=1.3M

LP=999, SP=1.125M

Exceeded 212 Favorities in 9 hours. Discounting at least 12 from redfin, this is almost 200 fav in redfin

The Redfin estimate is most definitely crap. Let me give you an example.

Listed active at $499,950. 2 bd 1.5 bath 988 sq.ft.
They used the following to get their estimate

address sell price
2674 ponselle ct. 2/1.5 988 sq ft 400k
1515 turandot 2/2 988 sq ft 380k
2746 frica ct 3/1.5 1176 sq ft 380k
1522 tosca ct 2/1.5 988 sq ft 385k
2640 tannhauser ct 3/1.5.1176 sq ft 380k
1547 aldrich way 3/2/ 1107 sq ft 630k single family house

Redfin estimate------525k
Only about 125k off for a 400k townhouse.

1 Like

I actually like zillow estimate much better than Redfin. At least they don’t cheat. I don’t recall their estimate suddenly moves to sale price on the day the deal closes. And zillow estimate is getting noticeably better over the years. Still not very good though.

1 Like

Offers are due tomorrow…they looks like removed from OH

Zillow Says

Redfin says

It went on market on 1/25 and offer due on 1/28. Only 3 days for showing and decision.

Maybe it’s a good opportunity since many people did not have opportunity to view it.

I think the listing agent is not doing his best job by rushing for offers.

With 354 favorites, Do you think so? Just visit the home (with your realtor), you will see 100s of agents business cards at that home ! LA knows what he is doing !

Agents and their friends would make an irresistible offer if it is a bargain. No need 3 days. One day will do.

1 Like

Actually, I disagree on having such a short showing and quick decision date. Sometimes, someone really likes it but for a legitimate reason is not ready yet and thus has to pass. Why make the pool of buyers smaller than you need to? I would do a pre-advertisement (sign that says coming soon), then do two weekends max and just let the masses salivate even more. If the house is nice, it will go even higher. If you have a dog of a property, yeah, go for the quick showing…

Humans tend to make emotional decisions in a haste. Coupled with crowded Open House, a short decision date would result in intense multiple bids.

These are flippers or guys who know what they are doing. your comment might make sense for a move in ready home that is sparkling.

2 weekends is the rule that most good agents use

There are two ways to get wide visibility, 1) keeping it at long duration 2) Keeping a low list price. With current visibility, LA will exactly hit the best price.

IMO, this is not going less than 1.2M. I do not wonder if it reaches beyond 1.3M. Some may even come up with full cash offers as this is Los Gatos border.