A while back, we featured this pretty amazing listing on Bonita Avenue in San Jose. Burbed reader SEA noticed that there was a McMansion complex wedged in right behind and observed that a number of the units had owners who forgot the old adage: Buy low, sell high, profit! Here’s how things looked when SEA reported in:
|House Number||2006/7 Sale Price||2011 List Price||Notes|
|209||$630K||$368K||Pending w/release – Short Sale|
|261||$700K||$400K||Pending w/release – Short Sale|
|313||$703K||$400K||Pending w/release – Short Sale|
|317||$718K||$405K||Active – Short sale|
|321||$674K||$415K||Active – NOT short|
|353||$675K||$400K||Pending w/release – Short Sale|
|365||$698K||$430K||Active – Short sale|
Looks like those former owners all got the saying backwards. And obviously all that instant equity couldn’t be left alone, since these homes were quickly snapped up! Fortunately, another house in Rayos del Sol is for sale, so it’s not too late to grab some instant equity for yourself.
SQ. FT.: 2,222
$/SQ. FT.: $198
LOT SIZE: 2,613 Sq. Ft.
PROPERTY TYPE: Detached Single Family
YEAR BUILT: 2006
COMMUNITY: Central San Jose
COUNTY: Santa Clara
ON REDFIN: 23 days
Beautiful home located in a nice complex with lovely grounds. Spacious 4 bed 2.5 bath with remodeled kitchen , freshly painted interior , new living room carpet , new a/c , new water heater, cozy fireplace and spacious rooms throughpout. Inside laundry with good storage space. great first time buyer or investor. New appliances with be installed when property is in escrow.
These pictures really do say it all, so you might as well enjoy every single one of them… after the break.
This is such a sad mixture of an earnest attempt at a good job to sell this place, yet a really pathetic execution given what the poor agent has to work with. Listed since 2008, foreclosed last month, purchased for a whopping $704K in 2006, and whoever took the pictures didn’t even change the ISO setting between bright sun and natural light indoors.
And face it, this place and its lovely grounds are convenient to the freeway. Looks like that’s about 250 feet.
A Redfin agent visited nearby #321 (sold for asking price of $415K, with a foreclosure in between going pending and actually selling):
Well, the selling agent has her work cut out for her, then! So when selling a challenging listing like these crapboxes, less really is more. Take a look at #209:
They got a buyer in 20 days with just 2 pictures (better lighting in those 2 pictures, too) and fewer words in the listing too! Now they can wait for months to find out if the bank wants to sell short or just foreclose.
Here’s another one from Rayos del Suck:
Previous sale price, $666,500 in October, 2006. SOLD for $197,500 in April, 2011, an astounding drop of 23.7% a YEAR. That’s Stockton or even Las Vegas-level performance!
This is 377 Rayos del Sol, marked with the blue house icon. It’s next to the “lovely grounds” and that’s the freeway soundwall on the upper right corner of this picture.
Remember, location, location, location! You pay more for that freeway convenience!
This is #261 Rayos del Sol. It sold for $425K the end of May, but was purchased during Spring Bounce 2007 for $700K. They’re paying more for the privilege of being close to that beauty on Bonita, and all the neighbor’s vehicles, not to mention everyone’s vehicles on US 101.