SHOCKER: Price cut in Palo Alto.
1820 ASH St
Palo Alto, CA 94306$1,149,500
At $2017 per square foot, this listing is the pride and joy of Bay Area real estate. Now, granted, this isn’t exactly accurate as there’s also a guest house that can bring in revenue – and as we all know, revenue is what counts.
But wait. This house sure seems familiar. Where have we seen this before? Quick! To the wayback machine to a period when I was still regularly contributing to this site!
September 7, 2010
A healthy priced property in Palo Alto
1820 ASH St Palo Alto, CA 94306
$1,499,000
OMG. What. Is. Going. On? No, seriously… what is going on with these prices?
What’s your prediction for what this house will sell for next year? Keep in mind the coming torrent of IPOs that will rock the Valley!
December 29th, 2011 at 9:05 am
There was a time you regularly contributed to this site?
I see what they did there. The previous sale included a commercial property on El Camino. This sale is just the Ash lots. That means prices only go up in the RRRRRRRRRRBA.
December 29th, 2011 at 9:10 am
Well, you might not be able to rent that deucehole out for much, but it will ALWAYS be rented since it’s just one mad-dash across El C. away from Stanford. It looks like they’re not selling the El Camino fronted parcel.
December 29th, 2011 at 10:03 am
Yea, just what I’ve been looking for all my life: Spend over $1M to gain near zero in rent, but it will ALWAYS be rented…
I know, the housing price appreciation will take care of everything. In a few years someone will spend over $2M to gain near zero in rent, but it will ALWAYS be rented.
The RBA is absolutely the best!
December 29th, 2011 at 10:11 am
Own your own piece of the ghetto!
December 29th, 2011 at 11:05 am
I’m GUESSING that what happened was the 3 parcel sale went through at 1.275 million (only a 225k drop in listing price) and the two residential zoned lots were peeled off and ‘sold’ to a business owned by the original buyer for 750k, leaving 500k as the price of the commercial lot which they will develop separately. And now that they have their commercial plans approved, they’re selling the res lot to finance building the business.
December 29th, 2011 at 11:12 am
> only a 225k drop in listing price
You’re off by one fifth of not a lot of money.
December 29th, 2011 at 11:46 am
Pending home sales rise to 1.5 year high
The National Association of Realtors’ Pending Home Sales Index, based on contracts signed in November, increased 7.3 percent to 100.1 — the highest level since April 2010.
Anybody wants to guess what the real number will be once the National Association of Realtards revises the number?
December 29th, 2011 at 11:58 am
Petsmart, I’m guessing revised to 10.01
Is that TOO bearish?
December 29th, 2011 at 12:11 pm
My prediction: $750,000 in credits for a Zygna game.
December 29th, 2011 at 12:12 pm
Zygna should be ‘Zynga’. Or perhaps it’s Zynga’s evil stepchild from Redmond or something?
December 30th, 2011 at 6:56 pm
WTF. I hate the RBA even more. Let’s keep tabs on this one & see how long it takes for some moron to buy it for not a lot of money more than asking price via bidding wars.
December 31st, 2011 at 5:57 pm
Cottage AND garage on property bringing in only $1,300?
Oh, I thought that thing was the cottage. It’s the main house, all 517 square feet of it.
December 31st, 2011 at 6:01 pm
Oh look, pending.
January 20th, 2012 at 11:47 am
WTF
Seriously, WTF.