Endless potential in Palo Alto
Time once again to visit one of our favorite places in the entire Real Bay Area! And it’s been a while because the properties go pending faster than we can click through the listing photos. We’ve been telling you that many RBA neighborhoods are hot, hot, HOT. Now we’ve got even more proof that The Bubbly is Back. Check out this Palo Alto palazzo from Burbed reader Michael Boltonestater!
411 PEPPER Ave
Palo Alto, CA 94306
$868,000
3 Beds
1 Baths
987 Sq. Ft.
$879 / Sq. Ft.
Built: 1940
Lot Size: 6,534 Sq. Ft.
On Redfin: 5 days
Status: Active
Property Type: Detached Single Family
Stories:1
Community: Ventura
MLS#: 81300120
Style: Cottage/Bungalow
View: Neighborhood
County: Santa ClaraWalk to California Avenue and enjoy all it has to offer, from this charming 1940s cottage with endless potential. Light filled rooms, hardwood floors, remodeled bathroom. Expansive backyard. Quiet location. Outstanding Palo Alto Schools. No offers prior to 1/14/13.
Not just a house in Palo Alto with endless potential (after all, every house in Palo Alto has endless potential, just by being in Palo Alto!), this is a 1940s cottage with endless potential. Just look at that kitchen! They sure don’t build them like they used to.
But did you catch the last line in the listing? “No offers prior to 1/14/13.” If that isn’t proof that it’s 2006 again, we don’t know what will convince you. Once again, the realtards are so convinced that their listed houses sell themselves, they get to decide what day they sell themselves.
Now here’s what Michael thinks about this Would Sell Way Over Asking Right Now If Only The Agent Hadn’t Made Everyone Wait a Week property:
Nice neighbors too, if you like junkyards.
These will be terrific neighbors… if you ever need to borrow a cup of brake fluid.
January 8th, 2013 at 9:18 am
The realtard should have also pointed out the “huge” lot. Ahem.
January 8th, 2013 at 9:19 am
… and borrow a spare tire, a battery, jumper cables, or anything else your car’s heart desires.
a “quiet location” nestled in between ECR and alma (which equals the choochoo). yep, i’m sure it’s a quiet retreat.
the 1940′s hardwood floors could be magnificent, tho. old hardwood really is hard, and very nice. can’t get that quality any more. the yellow room looks like a newer floor, so not the same quality.
January 8th, 2013 at 9:30 am
“Home needs work, but on a decent lot. Located next to a body shop.”
January 8th, 2013 at 2:42 pm
It’s a few blocks from the train tracks, but a very short block to Oregon Expressway. “Close to major transportation!”
January 8th, 2013 at 10:00 pm
The bubble is back!!
I went to view a home in Union City today. 15 people were already there with more driving up. This wasn’t even an open house. My realtor told me it would probably go 300k over asking for a 400k home.
This is a 1960 crapshack that is getting top dollar because of zero inventory!
Just saw another foreclosed home listed for 450k by a bank. The house was foreclosed 1 year ago for 350k. Clearly, the bank is making a profit on foreclosed homes because people are stupid enough to allow them to get away with it.
Will we ever have a normal housing market again?
January 8th, 2013 at 10:07 pm
wftf, there may have been a second loan on that property that didn’t show up in your review.
Check out this completely unremarkable flip in San Jose with a 33% price hike after a 30 day reno:
http://www.redfin.com/CA/San-Jose/4905-Anna-Dr-95124/home/1473207
January 11th, 2013 at 9:30 am
This is by far the cheapest house in Palo Alto, among the 15 that are available. The next one is at $1.5M, next to the freeway.
You don’t really see the body shop from the street view. You can walk to work at AOL. It’s a good house for the price. In general, I think that neighborhood is a good investment for the future. It’s behind the other Palo Alto neighborhoods in terms of gentrification and price point, but it’s a matter of time. The location is excellent.
January 11th, 2013 at 9:53 am
I thought we all agreed not to discuss P*** A***.
January 11th, 2013 at 10:11 am
OK, let’s talk about #5. There is a total dearth of inventory right now all over the Bay Area, including NRBA. Buyers are virtually in a state of panic. You will see this at any open house these days. It’s a real problem, as people cannot find a place to live.
January 11th, 2013 at 10:17 am
“It’s a real problem, as people cannot find a place to live.”
Won’t be long until everyone is homeless.
January 11th, 2013 at 11:14 am
Let’s back up a sec: AOL still has employees?
January 11th, 2013 at 12:39 pm
Jobs are easier to find than houses now days. The market is impossible right now.
January 11th, 2013 at 2:36 pm
#12- Still Shopping–The market has been impossible for you for years, so it’s no surprise that today, like yesterday, there is nothing for you.
January 11th, 2013 at 5:18 pm
It’s tough when someone has caviar tastes and a bait budget.
January 11th, 2013 at 6:56 pm
#12 is the dude in the lottery joke.
January 11th, 2013 at 8:05 pm
That joke reminds me of one about ice fishing.
March 7th, 2013 at 11:24 pm
Endless potential was overbid to $1.107M:
http://www.redfin.com/CA/Palo-Alto/411-Pepper-Ave-94306/home/1391298
March 7th, 2013 at 11:30 pm
This one just closed at $1.47M. Asking price was $950K.
http://www.redfin.com/CA/Palo-Alto/131-Washington-Ave-94301/home/1709673
March 8th, 2013 at 1:13 am
I wonder why they bother with an asking price when the number of bids makes clear that the sale price is purely market-driven as opposed to asking price-driven
March 8th, 2013 at 7:14 am
DreamT,
Congratulations. It looks like your neighborhood is priced at 94087 levels now.
March 8th, 2013 at 8:35 am
RE, are you saying DreamT and I both live in million dollar shacks now?
March 8th, 2013 at 9:02 am
I especially like the listing that says “There are very few opportunities to own a home in Old Palo Alto for less than a million. .. This is it!”
Nope, this wasn’t it. I have to say I’m loving this bubble. The material is getting better every day.
And congratulations, DreamT! You’ll finally get some respect from your coworkers.
March 8th, 2013 at 9:19 am
#19- You are trying to apply the general principles of the non-RBA to the RBA. RBA status implies over-bidding.
The problem is that over-bidding is necessary but not sufficient to ensure RBA status. Making a logical mistake, some fools over-bid the non-RBA…
March 8th, 2013 at 8:41 pm
#21, For many years now, I’ve been the only person here who has been genuinely helping people out by telling them what they didn’t necessarily want to hear. Yes, you guys are living in million dollar shacks now, but the poor guy you pretended to side with is now out in the cold being priced out forever.
March 9th, 2013 at 3:00 am
Yay, some respect! Too bad I only see coworkers about once a month, and they cannot tell 95051 from 95122, or grey hair from grey area.