Did you know that Burbed is just about five and a half years old? There are a lot of amazing listings in the archives, at some even more amazing pricing! In fact, Burbed reader Petsmart Groomer was just taking a stroll through them and noticed that this incredible old listing.
I know that pricing had gotten out of control in 2007, but… $1.25 million for EAST PALO ALTO? Burbed wasn’t using tags for posts then, but that entry would have needed something stronger than WTF, that’s for sure! Anyway, PG wants you to know this property is back on the market, after selling in May, 2008 for $950,000.
Care to take a few guesses what it’s listed for now? Why don’t you mull that over, and join us after the break. Then you can find out! (No peeking on Redfin!)
Okay, here we go! Tell us how close you were.
SQ. FT.: 1,020
$/SQ. FT.: $539
LOT SIZE: 0.75 Acres
PROPERTY TYPE: Detached Single Family
YEAR BUILT: 1916
COMMUNITY: East of U.S. 101
COUNTY: San Mateo
ON REDFIN: 41 days
Great Potential for Subdivision! See the brand new subdivision on one side and newer homes on the other. Check with the city of East Palo Alto. Value is in the land. Enjoy the 32,700 square feet flat lot with all its possibilities. Build your dream home. Investor’s dream.
A whole lot of dreaming going on here, starting from the property being offered for $1.25 million, even in the wild and wooly days of 2007. This place is both an investor’s dream and the future site of your dream home, so you’re going to need both those bedrooms to dream them up.
Guess you can’t have everything, but maybe you can have some of the extra vehicles thrown in that the current owner doesn’t seem to be using anymore.
How about you run a demolition derby on this lot? Do you think the EPA police give a high priority to complaints about revving a car engine? Or a few hundred car engines?
Here’s another surprise to dream about. This house is a flip. No, really.
A flip, and it’s hit both peak and slump pricing in two different real estate bubbles. I’m amazed nobody’s gotten foreclosed! But for asking almost $200K above the January sale price, the current owner had better throw in a lot more extra vehicles.
Looks like they’re getting started parking, but fixing the garage roof and putting out some safety cones isn’t what we’d expect for this much markup. Come on, at least put some granite somewhere.
Now this may be the best view of the house. Pleasant dreams.