It looked very familiar because I was going to bid on it the last time around but my max bid was no where near what this broker bid for. I agree that with the current financing climate, it would be very interesting to see how things turn out in the the next month or two. I know that not all 92128 are created equal but there is one in 92128 that’s around the same size house and lot listing for mid 500s and it hasn’t been sold. We’ll just have to wait and see. My guess is high 500s now since 92129 houses with that size and lot and age goes for around that price now.
hey SD Realtor, do you have any update on this? It’s now off the market but base on Zillow, it was sold on June 1st for $614,500. That’s the price they paid for it… winning bid was $585k + 5% auction fee = $615k. Since I see the sold price, will the auction price affect comp?
I’m not a realtor, but yes Dataquick shows $615k as the sale price so it should certainly affect comps.
Also the assessed value is: $731,701
I’m at a loss as to why the property was assessed so much higher than the sale price. Does anyone know if its difficult lowering assessed values, and can anyone venture to guess why the assessed value would be so high to begin with?
Based on the assessed info on Zillow, it seems that # came from the original sale of $690k in 2004 and increase a little bit each year due to prop 13 for the last 3 years. The auction price hasn’t reset the assessed value yet I’d assume.
That assessment is for the current tax year.It will be reassessed for the next tax year and a refund will proceed with a supplemental tax statement retro-active to the sale.( I may get corrected on the refund part)
Yep ol David Markel the broker gave up and put the home in Withdrawn status on 9/2/07. He was at 639-651k when he pulled it off the market. As Rustico said the reassessment will not show up until the the next tax cycle.
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