June 26, 2009

Seller will consider offers between $4,995,000-$5,300,000

2050 WAVERLEY St, Palo Alto, CA 94301 | MLS# 80925636
2050 WAVERLEY St Palo Alto, CA 94301
Price: $4,995,000

2050
Beds: 4
Baths: 4
Sq. Ft.: 4,157
$/Sq. Ft.: $1,202
Lot Size: 8,322 Sq. Ft.
Property Type: Detached Single Family
Style: Colonial
Stories: Tri-Level
View: Neighborhood
Year Built: 2009
Community: Old Palo Alto
County: Santa Clara
MLS#: 80925636
Source: MLSListings
Status: Active
On Redfin: 26 days
Fabulous Dutch Colonial in the heart of Old Palo Alto. Now complete, beautifully appointed and fully staged. Four bedrooms, four and 1/2 baths on three levels, wine room, outdoor fireplace and barbeque. The gourmet kitchen is exquisitely designed and has a fabulous Aga range, granite countertops and beautifully crafted cabinetry. Seller will consider offers between $4,995,000-$5,300,000

I know this was recently discussed in the comments, but frankly, the fact the range of offers expected is pretty stunning to me.

Here’s what the Burbed reader who shared this with me had to say:

Hello! I am a new reader to your site and love it. I thought this  Palo Alto home in the “old palo alto” neighborhood might provide a fun post for the site. They just reduced the price of the house from 5.495million to 4.995million, and now the mls listing reads “Seller will consider offers between $4,995,000-$5,300,000 – this does not mean seller will accept any offer but will consider all offers in this range”

How arrogant, especially in this market? Did this developer/flipper not get the memo that the sellers market is over?

–Palo Alto Resident

So what happens if you submit an offer that’s $5,300,001?

How peculiar!

What are you planning to offer?

Comments (27) -- Posted by: burbed @ 5:20 am

27 Responses to “Seller will consider offers between $4,995,000-$5,300,000”

  1. burbed Says:

    Thanks to Burbed reader Madhaus for pointing out that this post did not show up. WordPress can be so wonky.

  2. DreamT Says:

    Yeah!!! Blame WordPress! It’s not like it will kick back! :P

  3. anon Says:

    I just crapped in a bucket. Because I am not currently able to make any more buckets of crap, I am currently taking offers between $1,500,000 and $2,000,000.

    BRING YOUR BUYERS.

  4. madhaus Says:

    Hey, what the heck is going on here? Now there’s an UPPER-CASE Madhaus posting here, defaming my good name and forcing me to post beneath more buckets of excrement. Not to mention a house for $200K in Sunnyvale. As to today’s house, I just pity the poor must-live-in-94301 types, who otherwise would get no respect, who take the Realtard’s word and submit an offer over asking.

    By the way, does the flipper/bagholder know that just because s/he has the right to refuse all offers, s/he is still on the hook to pay the Realtard fee if asking or above price is actually offered?

  5. sfbubblebuyer Says:

    I don’t think there’s any worry of that happening here, madhaus. And as we saw yesterday this house should CLEARLY be priced at $499,999,000.00 – $530,000,000.00

    They’re asking so little that everyone is thinking something must be wrong with it.

  6. Real Estater Says:

    Glad to be back in the BA. This place beats Austin by a mile. The last day I was there, the place was sizzling at 104 degrees. In getting to the airport, there was traffic jam all around the city.

    I did get a chance to visit one of the local’s home about 20 minutes from downtown. It was a new home on a small lot. Cookie cutter and not unimpressive, for $200K. Most professionals there do own homes.

  7. nomadic Says:

    I think you’d find that in most places where the cost of buying is reasonable – that is, a professional can come up with 20% down without undue hardship and get a mortgage for 2-3x income – the vast majority of “professionals” will own a home. I’d even go so far to say that there won’t be a large pool of rental SFHs available. It’s what I saw in the midwest anyway.

  8. DreamT Says:

    we’ll only be sizzling at 97 degrees tomorrow

  9. nomadic Says:

    good day to go to the movies

  10. DreamT Says:

    or stay home and learn WordPress

  11. Real Estater Says:

    >>we’ll only be sizzling at 97 degrees tomorrow

    You will be. High on the peninsula is only around 92 tomorrow.

  12. DreamT Says:

    Yes, but why should I care?
    Incidentally, 94 in your neighborhood
    http://weather.weatherbug.com/CA/Palo%20Alto-weather.html?zcode=Z5831&zip=94301

  13. Real Estater Says:

    92 in Palo Alto tomorrow:

    http://www.wunderground.com/auto/sfgate/CA/Palo_Alto.html

  14. nomadic Says:

    94 down in Los Ghettos

    :-)

  15. nomadic Says:

    (That was weather.com)

    weatherbug say 103 – booyah!
    http://weather.weatherbug.com/CA/Los%20Gatos-weather.html?zcode=Z5831&zip=95030

    I think they need to recalibrate.
    Then again, wunderground says 101. I guess I’ll have to turn on the AC for a change.
    http://www.wunderground.com/cgi-bin/findweather/getForecast?query=95030&wuSelect=WEATHER

  16. Real Estater Says:

    nomadic says,
    >>I think you’d find that in most places where the cost of buying is reasonable – that is, a professional can come up with 20% down without undue hardship and get a mortgage for 2-3x income – the vast majority of “professionals” will own a home.

    If your objective is to own a home and have money left over for a middle class life, Austin fits the bill. However, the benefit is also a curse. The prevalence of cheap homes and availability of land there means your home is unlikely to appreciate. The demographics profile compared to the Bay Area has implications on the schools and the dynamics of the overall environment. You’re far more likely to be around average, everyday people (some with funny accents), and a few weirdos. Incidentally, on my flight back I sat next to a young lady who wanted me to draw on her arm and vice versa!

  17. DreamT Says:

    As a self-styled “average tech guy”, wouldn’t you agree that your present neighbors would see you more at home amongst Austin’s “average, everyday people”? That is, unless your objective is to be a misfit.

  18. Real Estater Says:

    DreamT,

    The definition of “average” in the Bay Area is not the same as other places. Just compare our “average” home price to elsewhere.

    To give you an example, in downtown Austin there are a couple of luxury high-rise condos being built like the “360” in San Jose. One of them is built by Four Seasons hotel, located next to the hotel in the most choice location with both river and city views. Yet, the price is only around $450K.

  19. DreamT Says:

    Nicely deflected. Introducing the Real Average™ versus the Austin-style, just average average.

  20. DreamT Says:

    I also discovered during my travels that the definition of “Real” in the Bay Area is not the same as other places. In fact, there’s speculation that the word “Real” has no definition here. As proof: the Real Bay Area is an elusive concept, so are Real Estater’s aphorisms.

  21. palo alto resident Says:

    I like Austin, I am surprised that you didn’t Real Estater. The city reminds me a little bit of Palo Alto in political leaning and terrain. It’s my favorite city in Texas. It is rediculously hot during the summer though.

    This is my personal favorite offered just outside of Austin (actually 25 miles outside…):http://www.zillow.com/blog/lance-armstrong-drops-price-on-texas-estate/2009/06/15/

  22. Real Estater Says:

    PA Resident – I have no doubt Austin is the best city in Texas. In the property you mentioned, it’s got beautiful architecture and nice scenery around it, but what you can’t see is the heat. Besides, what are you going to do there?

  23. anon Says:

    *yawn* is it the first of the month yet?!

  24. palo alto resident Says:

    Gosh. This property has been on the market for most of the year, and yet no one has offered the developer 5.3 million yet. Something must be wrong with his magic spec home mojo— or he has marketed and priced the home incorrectly. One of the two.

  25. Herve Estater Says:

    The listing now says “Seller will consider a trade or other creative financing.

    It used to say “Seller will consider offers between $4,995,000-$5,300,000“.

  26. anon Says:

    Desperation in palo alto? No way!

  27. DreamT Says:

    Trading what? wife swap gone wild?


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