8 square mile lot, for just $700,000 in Milpitas – short sale
792 Canada Dr, Milpitas, CA 95035 | MLS# 90019444
792 Canada Dr Milpitas, CA 95035
Price: $700,000
Beds: 4
Baths: 3
Sq. Ft.: 2,566
$/Sq. Ft.: $273
Lot Size: 5,000 Acres
PROPERTY TYPE: 1 House on Lot, Detached, Tract
STYLE: Contemporary
STORIES: 2
Year Built: 1979
Community: Santa Clara
County: Santa Clara
MLS#: 90019444
Source: MetroList
Status: Active
On Redfin: -
This property is subject to the Banks approval. (Short Sale. Nice Shapell home, located in a quiet neighborhood Near Parks Easy Access to shopping and highways.
Thanks to Burbed reader Rick for this find.
Holy moley. No wonder Milpitas is no longer in the Real Bay Area. 5000 acres = 7.8 square miles. For just $700,000?
We really need to get a law passed to ban short sales. These things are destroying the economy. Instead, the government must reimburse the buyer for the purchase price, funded out of a bond measure that our children and grandchildren will pay for in the future. It’s only fair. We’re keeping house prices high for them, so that they’ll understand the value of work and debt.
Sheesh. 8 square mile lot for just $700,000. Just thinking about it makes my blood boil.
May 15th, 2009 at 7:44 am
No surprise, 49 out of the 122 Single Family houses for sale in Milpitas are listed as short sales; that’s over 40%. Close to 60% are selling for less than the last purchase price. Miltipitas is going to get crushed.
May 15th, 2009 at 8:16 am
Looks like normal price range for 1000′s of acres. Another one in Menlo park
http://www.redfin.com/CA/Menlo-Park/866-Hermosa-Way-94025/home/1601197
Going rate is 100K per 1000 Acre.
May 15th, 2009 at 10:02 am
$700k seems like a lot to live in Milpitas, especially if it is only a 5000sqft lot as I suspect. The house may be larger than most, but it seems like a lot of money for the area. Maybe I put more of a location premium than other people, granted location premium has actually been going up in the last few years, it was heavily discounted before, especially when EPA houses where 500k, or Pittsburg houses where 550/600k.
May 15th, 2009 at 10:53 am
Feh. It’s a typo, or more like, the ignorant being allowed near a typewriter.
Meanwhile .. it’s a typical Milpenis snout house, apparently the home of a nesting pair of SUVs.
May 15th, 2009 at 11:36 am
Good luck getting $700k for this place. This home should be worth more like $450-500k.
May 15th, 2009 at 11:53 am
An additional 15 are foreclosures or bank owned. That means 64 out of 125 (latest count) are either foreclosures, bank-owned, or short-sales; an astounding 51% of all Single Family Homes in Milpitas.
The only thing keeping this market alive is all that government cheese: low-interest loans, minimal down payments, and free money (up to $18k). Call this one the government mortgage bubble.
May 15th, 2009 at 12:32 pm
Meanwhile .. it’s a typical Milpenis snout house, apparently the home of a nesting pair of SUVs.
LOL! That just needed to be repeated.
May 15th, 2009 at 12:48 pm
“Call this one the government mortgage bubble.”
Lol – Before, it was the bank bubble. The banks pumped it up so high that the government cant allow it to collapse too quickly.
What a sad state of affairs.
May 15th, 2009 at 5:51 pm
PB, nice find on the 21,078 acre house. And don’t let them tell you the Realtard picked “acres” instead of “square feet.” A 21,078 sf property (as opposed to acres) is not “5A(MOL).” It’s a half-acre. So we are talking doubly-stupid Realtard, but I repeat myself.
**Meanwhile .. it’s a typical Milpenis snout house, apparently the home of a nesting pair of SUVs.**
LOL! That just needed to be repeated.
nomadic, I live to serve.
Unless this house is way up the hill, they are out of their minds asking $700K for it. Hah. I remember back in 1988 when Milpitas houses were going for $200K. I think you needed one and a half engineer jobs to afford one.
May 15th, 2009 at 6:55 pm
madhaus – the realtard just put in the “.” followed by a space: . 5A(MOL) He or she must figure buyers are still too dumb to figure it out.
As for the “Milpenis” house – if they were $200k twenty years ago, then it should be $800k, eh? ($200k x 2 x 2)
May 15th, 2009 at 11:37 pm
http://www.redfin.com/CA/San-Clemente/715-Avenida-Columbo-92672/home/3272390
I was forwarded this one to me from a friend in the OC.
The house is practically falling off a cliff, and it’s going for $200k!?!?!?
May 16th, 2009 at 12:09 am
> The house is practically falling off a cliff.
I thought you were exaggerating, but no, you’re not. At least the agent was diligent and is not trying to hide anything on the pictures.
Oh, and it was sold for $729K last year… Talk about equity burn!
May 16th, 2009 at 12:18 am
Such demoralizing language, Herve! We need to put this in proper Realtardese.
Kinetic energy propels this dymanic house to new heights!
And that’s not equity burn. It’s momentum!
May 16th, 2009 at 12:26 am
That house has good bones, and the photos to show them
May 16th, 2009 at 1:27 am
Madhaus,
And potential energy will drag you and the house down the cliff.
May 16th, 2009 at 7:38 am
Hey guys,
What do you think of Killarney farms area in 95051 that does *NOT* go to CUSD? houses are cheap there by $150k compared to cusd and primary schools are reasonably good. Do you think that’s bargain? How is area?
May 16th, 2009 at 9:24 am
sv_newbie – while I live across Pruneridge, I recently suggested Killarney Farms as a pretty decent place to buy. Historically the CUSD premium has not been $150, more like $50k to $100k, so if you found a bargain, all the better for you.
May 16th, 2009 at 11:48 am
Thanks a lot DreamT. I’m going to an open house there, will report more later.
May 16th, 2009 at 12:57 pm
sv_newbie, be sure to give us the most important details about that Open House: How many people were at the Open House, how many were Asians and Indians, did the Realtard run out of fliers, and most important of all: Is this a zip code that your co-workers can respect or not?
May 16th, 2009 at 1:18 pm
God knows I can’t imagine buying a home in SV these days.Doesn’t seem like the most opportune time.
May 16th, 2009 at 2:07 pm
bob – not wanting to sound like RE, but I suspect there’ll never be a time you consider “opportune” to buy in the SV.
May 16th, 2009 at 3:36 pm
You have a point DreamT. I don’t plan on buying in SV period, hence “never” would be a good analogy. But the thought of shelling out that kind of dough is distasteful to me just the same. Oh well.
May 16th, 2009 at 3:57 pm
bob – just like the thought of spending more than $20k or so for a commute vehicle (“car”) is distasteful to me. But I don’t judge or comment on Porsche, Lexus or Mercedes buyers.
May 16th, 2009 at 6:37 pm
But I don’t judge or comment on Porsche, Lexus or Mercedes buyers.
Hee hee. Better check the car thread. You mentioned the Volvo. And the SUV.
May 16th, 2009 at 6:39 pm
wrong link in the car thread. It was the $5 gas thread.
This heat is making me teh stooped.
May 16th, 2009 at 7:12 pm
I mentioned a funny post in a “Volvo thread”… Nuance.
And SUV is not a brand nor a price category, is it?