Menlo Park price drop?

What’s going on with this house? Price is dropping from January 2016

Original was sold in January. This is a flip trying to sell after the fix up (listing price is a teaser, will sell for much more)

50 days on market with a teaser price? The “teaser” price is not working

1 Like

Yes, I would love to buy this home at listing price, but seller looking for much more.

I doubt it’s a flip. It was built in 2015, and It was sold in January of last year. Who would spend over a year remodeling a home that was just built? The price seems on par with nearby listings.

Oh yes you’re right… it isn’t a flip…

In that case it’s a deal!!!

This house is on a flag lot behind another house. I don’t know if someone paying such a price would like to live behind another house

3 Likes

Pricey and small. I’m not sure Allied Arts is worth it.

What’s wrong with allied arts?

Is it a condo or SFR?

How do people enter the house behind this house?

Nothing’s wrong with it, but why pay that price when you could get a larger place elsewhere in Menlo Park?

https://www.redfin.com/CA/Menlo-Park/202-Ravenswood-Ave-94025/home/2043099

Although admittedly, not as much available as I thought. Wow things have gone up…

This home is down the street from me. It is really odd as it has been on and off the market a ton for a new build. I toured it once and it was fine. The house is ok - small, flag lot but has a decent yard for a flag home. I’ve wondered if there is a neighbor issue?

I personally love living in Allied Arts - can walk to downtown Menlo, downtown Palo Alto, 4 parks nearby for the kids. Would prefer to be further from El Camino than this house is though but that requires some serious $$$.

Whatever building it is is on the same lot…

This house isn’t a useful leading indicator of the market, but I wish it was… Stanford purchased a very similar development just down the street for roughly the same price per unit as this sold back in 2016.

Partridge has a lot of R2 zoning.

Don’t look now, but rental prices for SFH in Redwood City have come up a lot. 4-5K for a 3/2.

This home is in the back of the flag lot. There is a driveway that both homes share and leads to the home in the rear.

I know a lot of folks don’t like the rear flag lot homes but usually they have a better yard than the front home and more privacy. So long as you don’t get a jerk neighbor who blocks the driveway, I don’t see much downside.

1 Like

I was thinking about this one more. I think this maybe more the exception than the rule around here. $1584/sq foot in 2015 is really high. While I wish it was the market cooling, I think they just overpaid.

1 Princeton Rd looks like it sold for $1m over its 2014 price but is still pending so we will see what final # is… https://www.redfin.com/CA/Menlo-Park/1-Princeton-Rd-94025/home/113781758

1 Like

Is the creek a flooding risk? I drive by the creek and wonder whether it’s a fall risk for kids.

This could be a sign of market cooling though. In the beginning, a house with defect does not sell or sell for a surprisingly low price, then trigger a reevaluation.

Menlo park could be the first city for slowdown.

even in Sunnyvale, few homes are not selling. After very long time , I am seeing a home sitting in a market for a week :slight_smile:

1 Like

They are priced like a newly remodeled house catering to millennials (white, stainless theme with many hi-tech stuffs).
1624? Facing incoming road?