December 20, 2012

OMG We Forgot About Mountain View!

We’ve just been alerted that we’ve been neglecting Mountain View property, which we are contractually required to discuss every ten minutes.  And it’s been ten whole days! Fortunately, Burbed reader Michael Boltonestater sent us this beaut, which we promptly misplaced during the Black Friday Sales.  Consider this a “we found it in the back of the storeroom” slightly mussed listing. It’s both pending… and selling shortly!    

121219-whisman-redfin492 N WHISMAN Rd
Mountain View, CA 94043
$750,000

4 Beds 
2 Baths 
1,748 Sq. Ft.
$429 / Sq. Ft.
Built: 1965 
Lot Size: 0.25 Acres 
On Redfin: 33 days
Status: Pending With Release
Stories: 1
Community: Whisman
MLS#: 81241148
View: Neighborhood
County: Santa Clara

Short Sale! Charming two unit property located in Whisman Area of Mountain View. Huff Elementary, Crittenden Middle and Mt View High. Live in one, rent the other or great investment opportunity! HUGE 10,890 sf corner Lot. R-2 zoning provides multiple use scenarios. Both units are 2 bed /1 bath w/ laundry, garage AND carport. Please DO NOT Disturb Occupants!

121219-whisman-kitchenIt’s a great investment opportunity!  That’s because the current owners are passing the savings along to you rather than the bank.  Yes, savings.  If you had bought this property in 2006, like these investors did, the RBA would have done its magic and increased it by more than half its value in just six years.  And if you were smart and leveraged yourself with a 20% down, 10% down, 5% down, or even ZERO DOWN, then your investment returns would be much, much higher! 

Let’s calculate them, shall we?

121219-whisman-history

So a little over a million dollars, put down 20%, looks like that investment… is now going to be someone else’s instant equity. So, bets on the over/under compared to 2003’s sale price?  Now that provides multiple use scenarios.

Comments (4) -- Posted by: madhaus @ 5:09 am

4 Responses to “OMG We Forgot About Mountain View!”

  1. SEA Says:

    And here I am wondering about the kids’ education. Isn’t the so-called overbidding supposed to take care of that?

  2. Petsmart groomer Says:

    2006: up more than 50% in just 3 years… Those were the days!

  3. madhaus Says:

    Even 2006 was too late. They should have sold in 2005. Place took 3 months to sell and they had to accept an underbid.

  4. SEA Says:

    Up ~50% in just three years? Sure that’s true, but to complete the REALTOR math: Today by selling near that 2003 price, the buyer, current owner, only lost ~33%.

    That’s the beauty of REALTOR math–percent gains are always larger than losses.


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