600k drop in price spotted in LOS ALTO

Mar 21 42 Comments

Why does this home only sell for 4mil? https://www.redfin.com/CA/Los-Altos/1715-Juarez-Ave-94024/home/1837944 seems like a deal in Los altos

comparing:
https://www.redfin.com/CA/Mountain-View/1928-Limetree-Ln-94040/home/1275458
https://www.redfin.com/CA/Los-Altos/1502-Ben-Roe-Dr-94024/home/1105915
https://www.redfin.com/CA/Los-Altos/1711-William-Henry-Ct-94024/home/1493312

basically, the buyer paid 5% more to get a 40% bigger home and a 1000 sq ft larger yard for the home
no cash offer, disclosure seems good.

The trickle-down effect has happened, buckle up! new home buyers

#housing

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 TOP 42 Comments
  • Meta
    public2

    Go to company page Meta

    public2
    The lots are all roughly the same size and you are asking why the latest one "only" sold for a couple hundred grand more? What? Where do you see a price drop? It sold for above list and closed in just over 30 days...
    Mar 21 11
    • Meta
      public2

      Go to company page Meta

      public2
      Bahahaha redfin estimate, come on op. Redfin cannot see the house or run comps. I'm not arguing with you; I don't even know what you are trying to claim. My only point is that real estate is not apples to apples and without all the info you cannot even venture a guess. Too funny to confuse a redfin or zillow estimate with a price drop haha. Going to use this.
      Mar 21
    • Amazon
      bejeezoss

      Go to company page Amazon

      bejeezoss
      @Public2.. you clearly understand his argument, but you don't agree with the degree to which OP made his claim. Just admit that and move on. Why be so childish about the discussion?
      Mar 21
  • DoorDash / Eng
    •

    Go to company page DoorDash Eng

     •
    “Only”
    Mar 21 2
  • Yelp
    prankster1

    Go to company page Yelp

    prankster1
    Connect with a friend in home insurance underwriting. They can help you understand the market and local trends at scale vs these weird anecdotes
    Mar 21 3
    • As the interest rates go up the market will slow down. I don't know if you will see prices dropping like crazy but they might not go up that much.
      Mar 21
    • Yelp
      prankster1

      Go to company page Yelp

      prankster1
      Prices would drop -since the bidding war will decrease - as people feel poorer and want to stick to their losses vs liquidating equity for low/negative returns.
      Mar 21
  • Merck KGaA
    bnbacdc

    Merck KGaA

    bnbacdc
    OP and others: here is my 2c. If you have already bought a house and locked in a low, fixed interest rate (sub 3% or low 3s), then just hold on to your house and live there

    If you are renting, continue to rent until all this raising of rates and inflation battling plays out. Don’t FOMO into buying now.

    At this time, inaction or maintaining status quo may be the best option
    Mar 21 0
  • Adobe
    Pushpaflwr

    Go to company page Adobe

    Pushpaflwr
    No one in Los Altos likes to send to Cupertino schools. North Los Altos and Los Altos Hills are where rich people prefer.
    Mar 21 0