Comments on: Why is the Median List/Sold Price so different in Mountain View vs Sunnyvale?

By: nomadic

nomadic — Thu, 09 Apr 2009 15:36:06 +0000

They sure aren’t selling the famed “urine house” on Blossom Hill! That REO has been sitting for at LEAST 8 months. Now listed for $699k – last loan amount on the house? $1.7M. I kid you not.

There was another REO next door that’s been pulled off the market but there aren’t any signs of someone moving in.

By: anon

anon — Thu, 09 Apr 2009 09:28:27 +0000

“Banks aren’t reselling many foreclosed homes”

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/08/MNL516UG90.DTL&type=business&tsp=1

Makes sense to me… put too many on the market and they lower the value of their own assets. Talk about caught between a rock and a hard place. Good thing they have the government lifeline.

By: anon

anon — Thu, 09 Apr 2009 08:24:17 +0000

I think we’ll see an increase in MV sales as a direct result of the above. Everyone wants to live here.

Watch out, MV bound. You can’t move here anymore.

By: Real Estater

Real Estater — Thu, 09 Apr 2009 08:16:39 +0000

Google was just featured on NightLine. They brought up the esteemed city of Mountain View quite a few times.

By: nomadic

nomadic — Thu, 09 Apr 2009 00:50:33 +0000

I believe the phrase is holy crepe!

By: A. Lewis

A. Lewis — Thu, 09 Apr 2009 00:05:13 +0000

I just started using PropertyShark today – holy CRAP that is a useful site.

Found out the neighbor across the street, a sweet little old lady who passed away last year, took out a GIGANTIC refi loan on the property 15 months ago.

The bank – Washington Mutual – is going to get hammered on this one.

I hand been pondering asking them what they want for the place, and the amount I was thinking was 2/3 of what she re-fi’ed it for…

It’s amazing what’s hiding out there.

By: SanJose Renter

SanJose Renter — Wed, 08 Apr 2009 22:33:26 +0000

Thanks for the analysis Jim. redfin is my favorite pr0n site.

Still waiting for a walk-to Castro MV house for $500k.

Give me a call when that happens.

By: nomadic

nomadic — Wed, 08 Apr 2009 20:57:14 +0000

… and its companion, “meaningless anecdotal data.”

By: BuyersAreIdiots

BuyersAreIdiots — Wed, 08 Apr 2009 20:52:14 +0000

median is up: market is great
median is down: mix of properties

And don’t forget “useless aggregate data”.

By: Pralay

Pralay — Wed, 08 Apr 2009 19:16:03 +0000

Sunnyvale really is a tale of two cities
——–

LOL! I thought Palo Alto is a tale of two cities too – 94301 and non-94301.