June 18, 2012

AMAZING DEAL WILL NOT LAST

Fire up your tardis and set the controls for two days ago, because there was an Open House on this Evergreen estate and you probably missed it!  Thanks very much to Burbed reader Swan for this bodacious botch-up.

3545 EDGEMAN Ct
San Jose, CA 95148
$6,399,999

120616-edgeman-redfin

BEDS: 4
BATHS: 3
SQ. FT.: 2,699
$/SQ. FT.: $2,371
LOT SIZE: 0.26 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Contemporary
STORIES: 2
YEAR BUILT: 1987
COMMUNITY: Evergreen
COUNTY: Santa Clara
MLS#: 81219851
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 22 days

Evergreen High School. Open house this Saturday, June 16, 2012, from 2-4pm. PRICE REDUCED 60K. BUYERS RUSH TO SEE THIS PROPERTY. EXCELLENT SCHOOLS. SPACIOUS 4 BEDROOM WITH 1 BEDROOM DOWNSTAIRS. AMAZING DEAL WILL NOT LAST. This is a shortsale with 1 lender only. Will close fast. PLEASE DO NOT CALL. FOR ANY QUESTIONS PLEASE EMAIL alexiatnguyen@gmail. com

Here’s what Swan has to say about THAT:

120616-edgeman-satelliteReally?  $6.3 million in Evergreen?  I think it will be around for awhile.

Talk about a typo.  Listed for $699K  on May 31, price changed to $6,399,999 on June 15.  That’s some price change!

Hope you get to see this before they correct it!

Correct it?  They’re lining up the armored cars for the outsized overbidding that’s going to result from this masterly marketing maneuver.  And it’s not as if this home price history hasn’t already experienced the thrill of victory, and the agony of defeat.

120616-edgeman-price-history

It’s participated in the run-up, peak, and bust of the previous real estate bubble, 3 sales within five years!  Now, after staying with the same owners for almost 20, it will be selling shortly.  Or at least it would if the realtard had counted how many nines she entered.

120616-edgeman-streetview[4]

So here’s one last look at the house, courtesy of Google Streetview. Place your bets on how quickly the new price ends up in that trash bin.

Update: This amazing deal did not last.

120616-edgeman-updated-listing-history

Comments (14) -- Posted by: madhaus @ 5:02 am

14 Responses to “AMAZING DEAL WILL NOT LAST”

  1. SEA Says:

    “Evergreen High School. PRICE REDUCED 60K. BUYERS RUSH TO SEE THIS PROPERTY. EXCELLENT SCHOOLS. SPACIOUS 4 BEDROOM WITH 1 BEDROOM DOWNSTAIRS. AMAZING DEAL WILL NOT LAST. This is a shortsale with 1 lender only. Buyer to pay for Negotiation Fee. PLEASE DO NOT CALL. FOR ANY QUESTIONS PLEASE EMAIL alexiatnguyen@gmail. com. Offers due Wednesday June 20, by 5pm.”

    Will the ‘overbidding’ bring the price right where it needs to be?

  2. nomadic Says:

    It’s so nice they added a little living space above the garage. The primary purpose is the garage, right? This is nastier than a snout house.

  3. Sunny(vale) Kim Says:

    Not only this house participated in 1990 bubble, the nest door neighbor house 3546 Edgeman participated in 2003-06 bubble too. That has more interesting price history in Zillow.

    1998 sale $450K

    2005 sale $1003K (I told you home price always goes up in bay area, because it is also special here).

    2011 July sale $742K (knife catcher; he was just counting for days when the price would go up back to $1M again, until the next door house brought him back to reality with a $699K short sale).

  4. Sunny(vale) Kim Says:

    nest = next

  5. nomadic Says:

    I’d argue that today’s house participated in the 2003-2006 bubble too, by using the house as an ATM. How else do you buy for $337k and owe more than $640k TWENTY years later? The house should’ve been darn close to being paid off.

  6. SEA Says:

    “2005 sale $1003K (I told you home price always goes up in bay area, because it is also special here).”

    2005 ->I live in a million dollar neighborhood. I was lucky to buy in at only $337k in 1993.

    2011 ->Why did my neighbor sell at a price that’s closer to ‘not a lot of money’ rather than closer to $1M. He really should have sold for $1,742k. Now I have $742k neighbors in my million dollar neighborhood.

    2012 June ->Why hasn’t my REALTOR brought a stack of offers with sufficient ‘overbidding?’ Maybe if I raise the price to over $6M it will help. Don’t people understand this is a $2M neighborhood. I should not have to sell short after 20 years. They should be paying me $640k.

  7. sprezzatura Says:

    @ nomadic – I was wondering that too. They must have HELOC-ed the heck out of the place.

  8. Sunny(vale) Kim Says:

    Just remember, more you borrow, the more you save. Debt is wealth.
    HELOC is saving
    HELOC is wealth
    HELOC is investment

  9. SEA Says:

    Oh, yea! Debt is wealth: HELOC that sucker up, and then don’t pay it back. Selling shortly: “Will close fast.”

  10. mabeldu Says:

    oy, another “professional realtor”. where are they breeding these idiots?

    she needs to adjust her copy from “PRICE REDUCED 60K. BUYERS RUSH TO SEE THIS PROPERTY” to “Price reduced $5.7M. Buyers swarm & overwhelm neighborhood to bid on 90% off short sale!”.

    that’ll get attention from well qualified buyers (eh hem) seeking a home in east SJ. and not just any part of ESJ, but the Special part at the end of Tully. if you actually live through the morning commute down Tully for a few years – uhm, decades – without getting shot, then you’ll get your well deserved price bump.

  11. Crissa Says:

    That’s what’s happened to my neighbors, they took the money from their houses to pay for their businesses. I have a little sympathy for them, but only in so far as ‘they should be able to afford their payments’. Which they could have, had their businesses not suffered a 90% unrecovered crash since 2007. (all of them are in construction).

    At least they don’t have variable rates or balloon payments… And they’ve made it nearly four, five years before crashing. If we suffered a loss like that, we’d end up on the street in a few months.

  12. The Gilroy Alex Says:

    Nomadic – I was going to say, What a snout! Except it’s somehow …. worse than a snout.

    Maybe someone knows one of the stars of the movie CARS is in the market for a house. No human living space needed other than that over-garage loft for a mechanic.

  13. Zak Says:

    You guys should look at:

    2631 Primera Ct, San Jose, CA 95148

    382% increase in 7 years. Now that is ROI.

    The realtor is so confident that he did not even bother focusing the camera.

  14. SEA Says:

    It took a couple of days to sort through all the “overbidding” offers:

    “Jun 22, 2012 Pending (Pending With Release) – – MLSListings #1″

    Uh, With Release? All those offers yet the chosen one has a release?


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