May 4, 2012

Flippin’ in Los Altos

Yesterday we suggested you could spend more than two million dollars on an empty spot of land in the middle of flipping nowhere.  Today we’re also flipping, with a quick-turnaround sale found by Burbed reader Mr. Kiasu.  Oh, and did we mention that the market is hot, hot hot?  Except for here.

1448 FOWLER Ln
Los Altos, CA 94024
$2,665,000, reduced from $2,995,000, reduced from $3,295,000

120503-fowler-redfin

BEDS: 6
BATHS: 3.5
SQ. FT.: 4,876
$/SQ. FT.: $547
LOT SIZE: 0.35 Acres
PROPERTY TYPE: Detached Single Family
STORIES: 2
VIEW: Neighborhood
YEAR BUILT: 1900
COMMUNITY: South of El Monte
COUNTY: Santa Clara
MLS#: 81211504
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 36 days

Turnkey 1900 Craftsman style Plantation home. .. own a piece of LA History. Poss Mills Act Tax Savings. 4800sf + 1800sf basement. Updated w/ new kitchen w/ marble countertops, remodeled baths and wood floors throughout. Newer fndtn, new copper plumbing, upgraded elect. panels, new zoned heating. Expansive back yard w/ pool & large lawn. Great cul-de-sac w/ LA Schools. Poss Seller financing options.

120503-fowler-kawlums[4]Here’s why Mr. Kiasu thought you’d like to see this home on the front page.

Spring bounce in Los Altos!

Bought in oct 2011 for 1.5, now on sale for 3.29.

Probably a flip but we’d need to see the pictures for last October I guess. Neighbors are all in the 1.5 range.

120503-fowler-gateNo history before the October sale, so maybe it’s been in the same family since 1900.

Wait, $3.29?  Not anymore.  Now it’s $2.65.  And still very much for sale.  Even with all those mawbul kawlums.  How could that be?  It’s on a cul-de-sac and there’s a gate to keep out the riffraff and everything.

Fortunately, the old pictures are still available for our perusal, so thank you Redfin!  Here’s a lovely pair from the old and the new of the same room.  Do you think they replaced the pool table?  Which one is the new sale?

120503-fowler-poolroom-old120503-fowler-poolroom-new

120503-fowler-kawlums-old-listingYes, comparing the old and the new listing photos really is something.  For example, just a quick glance led to this find of bunus kawlums not available in the current listing!  So it definitely pays to check selling history when looking at a property listing.  That’s when you notice how many things in this house haven’t been updated and then wonder how the seller can justify more than doubling the price on this flip.  We can see just how successful that gambit was.

Now sit back and listen to some really annoying light jazz while you enjoy the virtual tour.

Comments (2) -- Posted by: madhaus @ 5:02 am

2 Responses to “Flippin’ in Los Altos”

  1. SiO2 Says:

    Was the 1.5m sale an arms-length transaction? or a estate transfer or something like that. Just because 1.5m seems a little low for a 0.35 acre 4876 sq ft house in Los Altos. Even the lot by itself is probably 1.2m.
    Perhaps the house is “historic” and so can’t be torn down, that could reduce the value.

  2. SEA Says:

    #1-

    “Oct 11, 2011 Sold (Public Records) $1,500,000 — Public Records
    Oct 11, 2011 Sold (MLS) (Sold) — — MLSListings #81141486
    Sep 30, 2011 Pending (Pending Without Release) — — MLSListings #81141486
    Sep 28, 2011 Listed (Active) $2,100,000 — MLSListings #81141486″

    Looks like an arm’s-length transaction.

    Also, Mr. Kiasu suggested, “Neighbors are all in the 1.5 range.”


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