-20% despite multiple offers, 94087 you see whats comming

3d 187 Comments

https://www.redfin.com/CA/Sunnyvale/1455-Norman-Dr-94087/home/761158 just sold for 2.68 mil. 10k lot, at least 7 groups of people went for the open houses when I was there, the listing agents even had an open coffee bar at the yard(their coffe was good)

the sold price was estimated at around 2.9
comparing to https://www.redfin.com/CA/Sunnyvale/1556-Warbler-Ave-94087/home/829197 sold on Feb with 2.9 million, 1800 sqft ONLY 6000sqft yard!!!

for those blind house pros, please! it is your nitpicking time!

quick summary: this is the ultimate punchline from those blinders "THE SECOND HOME JUST LOOK NICER" no matter if the second home sitting close to both highway and hospital and lot is 4000 sqft smaller, the blinder will buy because it looks just "NICE"

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TOP 187 Comments
  • OP
    waiting for these recent bagholders come to the commenting section.... please take a close look to this home and watch all the possible flaws that will adjust this home's price..
    3d 17
    • OP
      Bro have you see any documentary about 2008?
      3d
    • Yes houses are same as stocks. When prices are down you can sell on click of a button and move to streets and live with your homeless buddies. When prices are up you buy again. No worries about house hunting time, down payment, 6% lost each time to agents, cost and time associated with repairs and presentation, moving,
      Also you don't have to worry about your family, school if you have kids, and time towards your job.
      Naive. You are supporting your logic with 2008, an incidence that happened once and under totally different conditions.

      In 2008 majority were selling not because prices were dropping but because they could not afford to pay the mortgage.
      3d
  • Amazon
    hsjcbof

    Go to company page Amazon

    hsjcbof
    OP: Your logic is too quantitative. I am guessing you are a male working in tech? If you have a wife/gf, just ask her which house she prefers.

    The second house is prettier; that’s not a negligible factor; it can matter a lot more than some simple “stats”. To get a balanced opinion, ask someone with a more artistic touch, and you will get a different POV
    3d 16
  • Inevitable RE correction incoming with the interest rate hike
    3d 1
  • New
    patint

    New

    patint
    About time, I can see inventory building up. San Jose used to have about 250 total listings few months ago, now there are 750+ . WFC just laid off a bunch of mortgage brokers....
    3d 7
    • Apple
      fightfed

      Go to company page Apple

      fightfed
      I agree that the inventory is getting better but not by that much. Housing markets follows seasonal factor meaning there is most sellers and buyers during Apr-Jun. This is correlated to kids school season plus spring makes people to go out for a new adventure. Hence; the listing should be compared to last year and pre Covid in the same month. I for one hope the price goes down but let’s look at the data more objectively.
      2d
    • OP
      Just in case you don’t know. People start saying this low inventory shxt wayyyy back before 2008. American will never build enough home when people are Fomo buying. But now Fed has made the music stop
      2d
  • LinkedIn
    FIREman💪

    Go to company page LinkedIn

    FIREman💪
    2.68M for a 3/2 in a so so school district? The market is still very hot.
    3d 3