19 Responses to “Free 1996 Porsche Carrera C4S with house purchase in Los Gatos”

1. steve Says:
   October 27th, 2009 at 6:41 am

   the house looks nice — too bad it is so far up in the hills. and, I appreciate the marketing effort; however, it is clear the skipped pricing class.

   “NEW PRICE!” is a $1,000 reduction and the total change after 90 days is $10,000.

2. Joe Says:
   October 27th, 2009 at 8:22 am

   Why the gimmicks on a multimillion dollar property? Why so desperate to sell? Why does a 5000 sqft house have only 3 bdrms? So many questions.

3. island2012 Says:
   October 27th, 2009 at 8:49 am

   THat’s my dream house, wish i had the money.

4. nomadic Says:
   October 27th, 2009 at 8:57 am

   Why does a 5000 sqft house have only 3 bdrms?

   Indoor basketball court or bowling alley?

5. gallileo Says:
   October 27th, 2009 at 10:42 am

   For what it is worth, the 911 is of the more desirable air-cooled generation (993 series), two years prior to the switch to water cooled.

   Depending on condition and options, you might get anywhere from $30K to $40k for it.

   But why someone would be looking for this particular car and this particular house at the same time, I have no idea.

   G

6. Pralay Says:
   October 27th, 2009 at 10:52 am

   Porsches smack of success. Just think about the extraordinary success for keeping this property in market from March 2008! Is there a Nobel prize for MLS listing?

7. steve Says:
   October 27th, 2009 at 11:30 am

   pralay, good catch. I had to log into redfin to see that it had been on and off the market for 18 months.

   It looks like it was also MLS # 80930072 at 2.35M, and I have found a cached reference to 2.49M, but I wonder what the March 2008 ask was?

8. bob Says:
   October 27th, 2009 at 11:59 am

   There’s a good reason Porsche switched to liquid cooled engines: They’re more dependable. With an air cooled car you cannot as easily regulate the temps in the cylinders and that leads to inefficient combustion. You also get more metal fatigue since the engines run a lot hotter. My neighbor has an air cooled 911 and the thing leaks oil like a WW2 warplane. There’s simply too much expansion/contration in the surfaces.

   About the only reason these air cooled Porsches of this generation command the money is because they were the last air cooled models made.

9. UnrealAlex Says:
   October 27th, 2009 at 1:34 pm

   5 acres is big but not test track big. It’s nice family farm big though.

   I agree on the air cooling, my motorcycle’s air cooled and yeah it’s less to go wrong but you have to baby it, oil changes every 2500 miles I use rotella-T from Wal-Mart and I use premium gas too. It utterly baffles people that a little 250cc could need “porsche” treatment while you can put anything sold at a pump into a modern car and change oil very seldom.

   Good house, location is good for farming etc and the car’s a nice frill, if you have the bux.

10. Pralay Says:
    October 27th, 2009 at 3:38 pm

    I have found a cached reference to 2.49M, but I wonder what the March 2008 ask was?
    —-

    I think $2,499,000 was the original price. It does not look like they have changed the price between March 2008 and Dec 2008.

11. jojo Says:
    October 27th, 2009 at 4:16 pm

    I thought Los Gatos Mountains weren’t expensive. I saw one with similar dimensions foreclosed for 400k

12. A. Lewis Says:
    October 27th, 2009 at 4:23 pm

    The car is funny, but this is actually decent value. A serious parcel of land. An actual custom home with high quality finish. This is a real rich person’s house, so it makes sense.

    Compare this to ‘ordinary’ 3BD SFH in 94301 selling for $1.8M at the height of the bubble. Some on small lots. People were silly.

    Very often, there is decent value at the low-end and the uber-high end in Bay Area housing, but the rest go WAY out of whack far too often. Right now, the higher-end stuff is vastly overvalued (you just don’t get enough house + land for your money), and the mid-lower end saw some ‘we see the bottom’ appreciation. That will evaporate quickly on the low-end, and another wave of speculators will get burned.

    And the fairly high-end will stay at low sales and stagnant prices at best.

13. bob Says:
    October 27th, 2009 at 4:49 pm

    Lewis,
    I think you’re correct about the mid-lower end. A lot of people buying now are only doing so ” just cuz” its cheaper than it was at the peak of the boom. These are people with money who wanted a house, could afford it during the boom, and now feel that in comparison to 2006 things are dirt-cheap. The majority of the folks out there who still can’t afford a $600,000 house will not be able to buy even if they wanted to. Those are the people who matter in the long run. Affordability ultimately comes back to being the final determining factor.
    Bottom line: The bay area is still grossly overpriced by any definition.

14. nomadic Says:
    October 27th, 2009 at 4:53 pm

    This is a real rich person’s house

    Except for how far out in the boonies it is. Put it in Saratoga near Mount Eden or in Monte Sereno, or even closer to LG proper and you have a rich person’s house. I think you could find a similar home on On Orbit or Bohlman in Saratoga for at least $400k less. Similar drive time to “civilization” but a bit closer to the rest of the peninsula.

15. DreamT Says:
    October 28th, 2009 at 1:29 am

    Shiller is making RealEstater very proud:

    http://www.reuters.com/article/GCA-Housing/idUSTRE59Q27X20091028

    “home prices are just zipping up”, Shiller said.

    “It is entirely possible that(..) home prices could start a major increase,” he said.

    “Just because we have high unemployment does not mean (…) the housing market cannot boom.”

    In other words, Shiller said buy now or be priced out!! (That, or Jennifer and Leslie are masterful editors who subverted his quotes)

16. bob Says:
    October 28th, 2009 at 7:46 am

    I think the latest “good” news about housing is a total fluke mainly brought on by government incentives. There probably is also some truth in some level of pent up demand- as much as I hate saying that- just as bad as “snapping up”.

    I think this article written on ben’s blog put the whole loony baseless economic rebound very nicely.

    “Although the stock market crashed in 1929, Great Depression 1.0 didn’t get fully underway until the early 1930’s, when the cumulative damage from massive unemployment, farm foreclosures, dead businesses, and overall national malaise joined up with an increasingly hostile Mother Nature to make American lives even more miserable than they already were.

    Now that America has weathered the first round of Big Business and institutional failures of this recession, and emptied what’s left of our pockets on sly “giveaways” like Cash for Clunkers and an $8K inducement to take on massive mortgage debt, the cold winds of December reckoning loom large. How long will it take before GD 2.0 hits its stride and we all admit that the well-orchestrated booster-ism our media has been feeding us hasn’t worked out so well this time? As any reader here can testify, just because something is trumpeted over and over by those in “authority” doesn’t necessarily make it so.

    Last week we saw a lot of rah-rahing from the real estate industry. All that pent up demand from realtors searching for something, anything to crow about has finally spewed forth like the petard we know it to be.

    It seems that existing home sales rose 9.4% over August. True, and auto sales jumped in July! Seduce the naïve and the desperate with a meaningless tax credit and watch as a million of them jump into the shark tank. As always we’re assaulted by the NAR with anecdotal evidence of higher-than-asking-price bidding wars, helped along by the federal tax credits, state forgiveness grants, and local incentive programs. No one wants to talk about how many of those winning bids fell through because no one would finance them. Or the fact that even with all the grants and give-aways, a significant percentage of these aspiring homoaners will be financially unqualified and/or found to have fraudulently represented themselves on the applications…
    http://thehousingbubbleblog.com/?p=5702

17. karen Says:
    October 29th, 2009 at 4:37 am

    #16 nice blog entry

18. Herve Estater Says:
    November 3rd, 2009 at 8:43 pm

    Offer expired. No more free Porsche with purchase of home

19. Pralay Says:
    November 3rd, 2009 at 9:55 pm

    Because it was a special treat in trick-or-treat. Some kid must have got Porsche instead of candy.

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