Price guesses - Mountain View Edition


#102

The house in the OP closed at 2.62
https://www.redfin.com/CA/Mountain-View/262-Martens-Ave-94040/home/1179700.
This went pending at the beginning of May. This should have been higher around 2.7 -2.8 based on comps, but I think may be due to the recent slowdown.


#103

That house was a wildcard for me. The reason being it’s in a very funny situation. With a income unit at the back, and with very defered condition on itself, it was hard to price it.


#104

:face_vomiting:


#105

NExt meetup will be at chickfila, then.


#106

:scream:


#107

Yes, the slowdown is still on schedule. PA here I come!


#108

I don’t think I’ve ever had Chickfila. Heard their waffle fries are phenomenal.


#109

That’s true, they are phenomenal. Their spicy chicken sandwich is pretty good too.


#110

There will a small percentage of variance, but don’t expect huge drops. There will be less competition and you may be able to find some deals, but for those still looking, this is a great opportunity with decreased competition.


#111

i talked with realtors over the weekend in Sunnyvale. they told me that the market is cooling. Buyers r picky , bad homes r not selling fast. But the good location homes r selling within a week.

We are seeing only 2 to 3 offers. Not double digit.


#112

What a nice lot coming up. Any guesses on final price? Some developer is going to have a field day with this one. Next lot over a developer built 4 SFHs.


#113

That area has a bunch of multiunits nearby. Otherwise, i think it’s great! There’s also another lot around 8Ksqft size. Great location - vey close to castro.


#114

This home is R3-15 zone, Residential—Multiple-Family.

Sure, Builders/developers bid with such a big lot for few THs.


#115

Look at this:

Then look at this:

Wow. the sellers must have really high expectations.


#116

This house didn’t sell yet.

Also following houses are on their second week of open houses or not selling:





https://www.redfin.com/CA/Mountain-View/3363-Newton-Dr-94040/home/1602031 [only 8 days]
https://www.redfin.com/CA/Mountain-View/309-Vincent-Dr-94041/home/1209467 [same as above]
https://www.redfin.com/CA/Mountain-View/312-Nita-Ave-94043/home/1590928
https://www.redfin.com/CA/Mountain-View/1294-Cuernavaca-Circulo-94040/home/1327389
https://www.redfin.com/CA/Mountain-View/992-Boranda-Ave-94040/home/645153


#117

I’m curious about these two:


Their comp is this:


#118

Analysis paralysis. Individual houses have issues. The market doesn’t. Houses in Tahoe sit for months. But they do sell and prices are still going up about 10% per year.


#119

you are wqj of real estate. wqj is elt1 of stocks.

for you guys it always goes up :slight_smile:


#120

Been right since 1849. Don’t wait to buy. Buy then wait.
Forget about the dream home or ideal location. Get on the band wagon then take your time on the next one.

When I bought in Tahoe 5 years ago. I knew little about the market. Bought a fixer that the market didn’t love. Got it cheap. Been buying ever since. But the market is up 40% in those 5 years. Hesitate and lose. Not only have I received appreciation and rental income to the tune of 20% IRR I also have the option to trade into property that was not available 5 years ago. By not being priced out.


#121

WQJ bought most stock at through away price (considering now). For him, whether stock goes up or down does not matter as long as he holds the stocks. Since he purchased good and well known stocks, holding will grow against inflation over a period. To my knowledge, he does not speculate.

elt1 has seen many decades of BARE, far beyond the periods. Except 2000 and 2008 and others downturns previously, real estate never came down. For real estate, temporary downs will not really give a deal unless major perm.fall like year 2008.