[quote=lepetitangel]Hi Zk,
Thanks for sharing all the info.
So for canyon-backing homes, do you think I should not expect to get a “steal” unless I get real lucky? If a shortsale house (with the things you described about the house) sold for $810K, do you think the canyon-back homes should be only in the $900~$950K region as the seller is asking way more than $1M. Hopefully can hear from you what you think in terms of valuation.

I’ve seen a few houses in CV that asked for $1.08~$1.1M that sold for about at least 5~10% less than asking price. Do you think in this case, a $1M price tag from $1.08M would be reasonable?

thanks.[/quote]

The only canyon-backing homes that went for those prices were in summer ’09. One went for 925k and a couple more went between 950k and 1M. In my opinion, the only way you’ll get one is if the market does the same thing this summer (or in the future) that it did in ’09. I don’t think the one on Cloverhurst asking 1079k will go for less than 1M at best. It could easily go for more than that, though. Couldn’t hurt to throw an offer in, though. You really never know.