https://www.redfin.com/CA/Redwood-City/1175-Palomar-Dr-94062/home/1633081/mlsListings-ML81643319
Bought for 1.68, listing for 3,88 after a remodel - it has lucky numbers too (in the price, at least lol).
Remodel looks somewhat cheap, but i will let @wuqijun to judge.
Maybe the flipper put $500k into it? Wants to make 1.5M out of this flip. Wow!
Septic no sewer. Stay away.
Is that a CA specific thing or in general? I see well and septic in some of the Seattle suburbs. I know a well can go dry in CA which can be crazy expensive to re-drill. I wouldn’t worry about the well going dry in Seattle.
No - this particular house is in the hills, in a remote-r area.
Palomar park and parts of Woodside have no sewers.
Can be a big problem. Eventually sewers will be required at a major expense. Worse case …a neighbors septic system uphill can fail and leak sewer water into your property.
2.5-2.7. The neighborhood can top 3M and >1000/sf on a spec project. Some things are off here though. Shared driveway. White picket fence on a modern build. And so on.
i was guessing around the same 2.6-.
Marginal…No $3m houses there…One of the best deals I ever did was on Hull…bought and sold a 20000sf lot with a three lot tentative map…Double escrowed it …Made $100k with no investment…Infinite return…
You needed cash buyer for that right?
Yeah…I knew all the builders…We tied it up…Then peddled it to all the builders we knew…Ah the good old days…Cant do that now…
Why not? Assignment contracts and double closings are still a thing for some investor buyers?
Nobody will let you do that these days…
Some escrow officers seem to do it, but you cannot do it with eventual buyers fund. You moght need transactional lender (hard money loan, pretty much).
Too many rules today…I feel sorry for this generation…Smothered by rules…The rich get richer and the poor are left out the more rules there are…Not too many realtors will allow “and assigns” contracts…
Look at that price drop:
Don’t know about the area at all.
this is not selling
Overpriced
sold for: $1,200,000 in March 2015. Assume 30-40% appreciation, makes about 1560-1680K. Put a new construction, it’s not too far?