This house will tell us how much price have depreciated since april


#22

It’s a good price.

All homes are being listed at lower prices recently. Only the good ones are benefiting from this lower list price.


#23

Here’s a comparison of a similar house sold 3 months earlier(when the housing market was stronger).


#24

this one looks older/less updated, no?


#25

Regardless of the condition of the house, the Hurst location looks inferior. It’s a feeder street for the development and is an access point for the school. Fremont Blvd carries a lot of traffic. Also, there is a church across the street. Looks like that market is still humming along.


#26

answer:

(Also adding in addition to the comment by @ww13 That church has traffic on weekends and also when they rent out that place for other activities)


#27

Went lower than what I thought it would go for.


#28

Maybe that is the problem, we expect crazy overbidding on all listed homes. This one sold for slightly over the list price. If you really think about it, in any other times past, that really would be considered fairly good, you got more than you asked. Now granted if the lowball strategy were in play, then obviously not so good.


#29

In March/April 2018 this would have sold for $100K more at a minimum.

Surprising, the sellers just showed it for just ONE weekend.


#30

Ok, but again we are seeing the market literally turning overnight. From that statement about one weekend, it sounds like the sellers are happy with the price.


#31

For sure… :slight_smile: looks like they have achieved nirvana :slight_smile:

nir·va·na

nərˈvänə,nirˈvänə/

noun

  1. (in Buddhism) a transcendent state in which there is neither suffering, desire, nor sense of self, and the subject is released from the effects of karma and the cycle of death and rebirth. It represents the final goal of Buddhism.

synonyms: paradise, heaven; More

  • another term for moksha.

  • a state of perfect happiness; an ideal or idyllic place.

plural noun: nirvanas


#32

Not to be like our Fearless Leader, wishing less for homeowners, I am just saying that ultimately it is the actual seller’s skin that is in the game. We can and will comment on every sale/buy but who knows, maybe the offer was 100% clean, no contingencies and say mostly/all cash? Sensing the market turning as we speak, the sellers go, “Take it, Agent!” we want that moola for the next adventure. I did the same with my Oakland building, took first offer, and never looked back…


#33

Probably correct. Pending to sold in 19 days only.


#34

Def a lot of money is still out there…looking for bargains or good deals


#35

starting to see under asking in San bruno
https://www.redfin.com/CA/San-Bruno/60-Shelter-Creek-Ln-94066/home/1511259
https://www.redfin.com/CA/San-Bruno/349-Cypress-Ave-94066/home/1096479
https://www.redfin.com/CA/San-Bruno/732-7th-Ave-94066/home/1955543


#36

West San Jose/Moreland school district
$120k below listing

https://www.redfin.com/CA/San-Jose/4345-Hilton-Ave-95130/home/1804561


#37

So this house sit on the market for 1.5 months asking at 1.68M and not sold. They decided to take it off the market, change realtor and listed at 1.78M. Interesting move.


#38

I think the 1.78 is their real price. The 1.68 was their “low door-busting” price to get some bidding going on. They may have gotten some offers even but nothing reached their “real” price.

Anyway these sellers are just delusional.


#39

Yea, I would think so, but 1.75M in Fremont is a bit pushing the limit on already smaller buyer pool. But good luck to them!


#40

This story exactly similar to what I was saying in another thread. I noticed this even in the worst time of 2009-2010. There was this house in Lynbrook high school area where the owner refused offers because he wanted $50k more. I thought he was insane. He rented out for 3 years and sold the house for $200k more. That’s all it takes in the bay area to ride out a downturn. Only desperate sellers sold during that time. Also those homes had all kinds of issues like water in the crawl space. Some of them needed motor pumps to suck out the water on a weekly basis.


#41

Why didn’t they fix the root cause instead of pumping out the water weekly? What was the root cause?