Predictions for Sunnyvale, Cupertino


#966

got it. Looks like that new pic taking technique where the photographers rolls on the ground to take the pic. Its getting very popular. I visited few homes where pics give completely different look to the open spaces. Street view and backyard. They look much bigger in the pic.

Expect a price reduction very soon on this one.


#967

So they bought this duplex at 1.5M https://www.redfin.com/CA/Sunnyvale/730-Alvarado-Ave-94085/home/764741 then relisted immediately by using another address: https://www.redfin.com/CA/Sunnyvale/728-Alvarado-Ave-94085/home/146226599

Now Price drop.


#968

Still 100K more than what they paid a month ago. So not really a price drop.


#969

It’s a price drop meant changing to 1.6 from1.68 (their original listed price) - House was originally listed 1.58 when they got it at 1.5, so not sure how much interest there for a duplex. And they closed in 9 days so assuming paid in cash so holding cost for 1.5M plus selling cost. They might not make any real money if they can actually sell it.


#970

Yes. Given that they are selling it in a month after acquiring, technically they should lose at least 100K (agent commission etc). If they break even it’s already crazy.


#971

Homestead High School Zone
7 days later, 24 homes available for sale.
8 new. 16 previous. So 7 out of previous 23 available are sold or delisted over the last 7 days.

1082 Plymouth Dr 3/1/1 1154/6000 $1.71M May 03, 2017
1059 Plymouth Dr 5/2/1 1435/6000 $1.78M Oct 12, 2017
1062 Plymouth Dr 2/1/1 0848/6034 $2.00M Feb 20, 2018
1074 Plymouth Dr 3/2/1 1680/6000 $2.21M Mar 29, 2018
1118 Plymouth Dr 3/1.75/1 1433/6206 $1.918M Jun 22, 2018
1137 Plymouth Dr 4/3.5/1 2300/6000 $2.90M Jul 31, 2018


#972

When you can’t sell, all you need to do is to raise prices:

They probably adjusted rents for some tenants hence the increase :stuck_out_tongue:


#973

Flip.


#974

Homestead High School Zone
7 days later, 27 homes available for sale.
6 new. 21 previous. So 3 out of previous 24 available are sold or delisted over the last 7 days.

1082 Plymouth Dr 3/1/1 1154/6000 $1.71M May 03, 2017
1059 Plymouth Dr 5/2/1 1435/6000 $1.78M Oct 12, 2017
1062 Plymouth Dr 2/1/1 0848/6034 $2.00M Feb 20, 2018
1074 Plymouth Dr 3/2/1 1680/6000 $2.21M Mar 29, 2018
1118 Plymouth Dr 3/1.75/1 1433/6206 $1.918M Jun 22, 2018
1137 Plymouth Dr 4/3.5/1 2300/6000 $2.90M Jul 31, 2018


#975

Gets a price cut @Ironduke


#976

a huge one!

I have a feeling that we are heading for a significant price correction from the peak. Initially I was thinking about 10% but I think 20-25% may happen too…

Santa Clara and bad areas of Sunnyvale will be first to see it…


#977

This guy had a high flying price to begim with :slight_smile:


#978

That is true. But my observations are not based on this listing. In fact for this listing I had a bet with my friend that the price reduction will bring it down under 2M.

We are tracking some townhouse complex for investment and prices are really down from peak of Spring 18.

New construction in Sunnyvale is about to take a hit.


#979

Look at the following in the areas I follow closely. Still high numbers. My real estate agent friend was right about the slowdown during July due to vacations. Apparently there were very few people during the open houses and that spooked some sellers. The ones that didn’t budge are the smart ones.


#980

In Sunnyvale and SC the neighborhoods with strong schools will be the last holdout. Everything around these neighborhoods will crumble. In order of how bad schools are…


#981

Pretty much all new construction in Sunnyvale is in not so good school areas.


#982

Only cheap land was those places …


#983

Hyde middle is the least desirable school in Cupertino school district.
Especially for new buyers, school rating 7 is not very appealing.
Beside, these neighborhood is close to highway, stevens creek blvd and car dealer shops.
If 1188sf home in this neighborhood is sold at 1.85million, I really don’t see any price drop from spring.


#984

@Jane, exactly my point. I know that some town homes in Sunnyvale right next to Highway 237 were selling for 1.4M in spite of bad schools. That’s the madness that subsided. It’s analogous to bitcoin becoming 1/3 of its peak value. It doesn’t mean anything for regular stocks.

Here is one such town home. The SFH above (even though all time high for that area) seems like a steal compared to this price.


#985

Cheapest in the neighborhood for that school combination perhaps or high school going kids for the buyer. Lets see if you can show some more of these in coming months. I would be happy to be corrected.