Last sold for $980k in 2004 currently on the market for $950k. Guess I had the year wrong.
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Yup, I wasn’t going to point that out. Because this was I believe the house we almost were going to buy in 2004. We chickened out, and ended up buying something cheaper. I remember, because in 2004, the supply was pretty tight, and I recall this community I thought was pretty nice.
Me thinks the one going for $795k in this complex is going to go pretty fast, provided the short sell is approved.
Maybe it’s a ploy to attract buyers….But, these were nice homes. This will definitely go after May 1st, if that’s the date when conforming loans go to $697k.
One thing that i find interesting. I think pricing in CV is completely wacked right now. Not so much wacked that it’s still expensive (it is)…But wacked in the sense that pricing is all over the map…
My observation is that communities without a lot of distressed sales seem to be able to fetch more money that some of the communities having more distressed sales, even though some of those homes in the former should never cost more then the homes in the other communities.
Monte Claire is an example of what I think is a distresed community…High priced homes in this community = for sale by owner who isn’t in trouble yet. Sub million home are distressed sales or some sort…Probably confusing the hell out of buyers, and perhaps buyers are just skipping althougher? I live in an arguably lesser community. And some sales in my community recently closed more than this $795k one….That should have never happened….Given the choices, I would have bought the one in Monte Claire… There’s absolutely no rationale reason why someone would pay a good deal more for a lesser home.(No, I’m not drinking the cool aid in thinking some communities will be spared in the long run…it won’t…It’s just interesting seeing how things are priced, and what is moving and what isn’t…And I can’t say all of it makes any sense). The only difference i can tell is so far, none of the sales in my community are REO or short sales… I’m just wondering if distressed sales are acting like a cancer in this CV market. The moment one community has distressed properties, pricing gets all wacked and it’s hard to move anything in that complex. It’s as if everyone is shopping at walmart for a pair of jeans paying $80 when Nordstrom is running a sale for first 100 pairs of better jeans at $75, but everyone thinks they’re still getting a better deal at el cheapo Walmart because it’s walmart and not nordstrom.
Another thing, I still can’t explain how Derby Hills or Saratoga can still moves at such a premium to their peers either. Or homes in “The Breakers”. Folks say over $1 million homes aren’t moving…Well, maybe I’m not looking in the right place. Seems like some Breakers and Derby Hills homes moved recently and those are over a million.
