Here’s a SFH with a $300k price drop:
And a townhome with a $200k price drop:
These seem like absurdly big drops. There are other properties nearby with more reasonable drops of 2-3%.
Interesting. They seem to be pretty affordable by MV standard. A bit too close to the highways though.
I don’t know comps, but if it doesn’t sell first time, insane price drop is called for.
I fully believe you’re better off with a bidding war than a single offer.
Agreed that the proximity to the highways is a real downer.
This house on El Camino hasn’t sold either, but the doesn’t seem to care to price drop:
And this one did a $1M price drop, and still didn’t sell. They’ve erased their history (thought that was illegal??? I archive every Redfin email now so that I can check this stuff!)
Honestly though, these houses really need to consider that proximity to El Camino (and an 8K lot for the second one), really don’t make them $3M houses. I’m not sure what they were thinking.
I can’t afford either, so that’s sort of a moot point. But I’d prefer Hillsborough to Atherton. A town is just too intimidating to me. I feel I have to be CEO of some Fortune 500 company to live there.
$2.5+ million for a house that face a busy El Camino Real? You’ve to be desperate to stay in Atherton.
MV homes have been overpriced for the neighborhood for 2 years now. So far, it is Google employees who are opt to these homes. To tell you the truth when the affordability is not there people go to other parts of the BA. Goog has buses from East Bay and others can find much more affordable homes. I expect no value appreciation as most neighborhoods prices there seem to have stalled.
Realty One Group
Do you expect no appreciation for all of MV? Which segments of the market? The lower end or the high end?
A bit of both. The high end is over valued.