Beds: 1 Baths: 1 Sq. Ft.: 650 $/Sq. Ft.: $261 Lot Size: 2,500 Sq. Ft. Property Type: Detached Single Family Style: Cabin Stories: 1 Year Built: 1951 Community: East of U.S. 101 County: San Mateo MLS#: 81103573 Source: MLSListings Status: Active
On Redfin: 113 days New tile floor, double-pane windows, new doors, security gate. Home needs to be finished inside with kitchen cabinets, etc. Seller is willing to credit $5000 for finishing projects he started.
Does this look familiar? It should!
August 4, 2008
Check it out! 30% appreciation since 2008! How much has your 401k appreciated since August 2008? How much interest have you earned on all that cash you have sitting in the bank since 2008? That’s right… only enough to buy a forever stamp from the post office.
Sure you could argue that I should deduct the costs of upgrades and taxes – but that’s what an out of touch, ivory tower elitist would say. Common sense says that Profit on a house = Sales Price – Purchase Price. Duh!
Again, clearly it’s a great time to be a real estate speculator in the Valley. Dump your LinkedIn shares and start buying up East Palo Alto properties today!