Followup: The 827 sqft house in Cupertino now $1million+
So back in February, this site broke the news of this fantastic offer.
$764,900 for a 827 sqft house in Cupertino
A lot of other blogs picked it up because it was just so… crazy!
Well guess what! It turns out that this house was sold in late March!
MercuryNews.com | 04/15/2006 | Home sales, published April 15
21820 Lomita Ave. $808,000, 827 SF, 2 BR, J. Song to C. Ng; 2004:$670,000
You’re reading this right. This 827 sqft house was sold in 2004 for $670,000. Just 2 years later, it was sold again for $808,000.
That’s a 21% gain.
And now it’s worth $1,025,565!
1997: $350 per square foot
1999: $483 per square foot
2001: $756 per square foot
2003: About the same
2005: $810 per square foot
2006 March: $970 per square foot
2006 June: $1116-$1339 per square foot
2007: $2000 per square foot. Your read it here first!
Congrats to all the parties involved on this amazing transaction! Goes to show… better than stock options!
June 28th, 2006 at 10:53 am
[…] What’s up with the housing market? I keep reading reports it’s cooling, but since January it looks like it’s heating up. I wonder if this is a solid turn or just a rush of investing at the last minute with buyers locking in lower rates. The graph above could also be due to a bad hurricane season, if so though it didn’t last long. I noticed this on Burbed as well, looks like some parts of California are experiencing the same “bounce”. […]
July 8th, 2006 at 10:53 pm
According to your calculations, my house would now be worth approximately $3.6 million. But actual sales tend to make me believe that you mistakenly put the decimal point one too many places to the right. I think you need a new calculator.
July 9th, 2006 at 12:52 am
desertrat – I notice that your IP is from some place called Lancaster, CA.
The reason your calculation doesn’t make sense is because you don’t live in the Bay Area. The Bay Area is defined as The Best Place in the World to Live. Since Lancaster, CA is not in the Bay Area, it doesn’t make sense that your house could be worth that much. If you were able to move it to Cupertino, it might.
June 14th, 2007 at 5:15 pm
[…] come on… not all the houses are unattractive. This one was pretty […]
April 27th, 2013 at 4:49 pm
[…] Apparently Cory has never looked at buying a Bay Area house. It’s special here – and that means you have to have 50 year neg am loan to buy an entry level house. Like this classic from earlier this year: […]