August 26, 2013

Nothing wrong with this Los Gatos home that price can’t fix

Oh hell, it’s Monday. But there’s good things about Mondays. Mondays mean the beginning of another week of Burbed housing win, so let’s get started. Burbed reader nomadic has a LOT of win for us today in Los Gatos.

130825-belgatos-redfin308 BELGATOS Ln
Los Gatos, CA 95032
$2,500,000

4 Beds
3.5 Baths
4,165 Sq. Ft.
$600 / Sq. Ft.
Built: 1987
Lot Size: 1.93 Acres
On Redfin: 29 days
Status: Active
Property Type: Detached Single Family
Stories: 2
Community: Los Gatos/Monte Sereno
MLS#: 81327424
Style: Tudor
View: City Lights
County: Santa Clara

Elegant Tudor Estate-4165 sqft with 3 car garage and 840 sqft detached guest house. -Gated with circular driveway and a completely fenced 1.93 acre lot-private with no neighbors yet close to town. Solar heated salt water pool and spa with pool house. Master suite with fireplace and large deck. Outdoor kitchen with barbecue, sink and fridge. Horses are permitted with trails adjacent to the property.

130825-belgatos-kitchenAdd it up: 4165 + 840 = 5005 sf. Yay! This house wins the Burbed ginormous tag by 5 square feet.  It’s also been on the market for (gasp) an entire month. Now let’s see what nomadic’s nominating statement for this property is.

Seller is a licensed RE agent.  There are only seven listing pics.  Seller has this priced just $70k above their 2006 purchase price, and I would guess it’s priced close to market value.  When the current seller bought the place, they paid $1.2M more than the previous sale price seven years earlier (the price doubled).  That previous seller was related to their agent.  Is this house now only bought & sold among realtors? There is no indication of any remodeling or building in between transactions.  This is the slums of Los Gatos – was it really in the RBA between 1999 and 2006?

130825-belgatos-poolIn summary, the price doubled in the seven years 1999-2006 and then stagnated for the seven years since. Ouch.

Don’t be silly, nomadic. The property most certainly did not stagnate. It ripened, like a fine wine, or cheese, or toe fungus. Obviously if YOU buy this property today, the price will quadruple in ten minutes, ensuring the RBA Property Doubles Every Ten Years rule we know and love.

But in order for that to happen, somebody had better buy this place before the various realtards selling it among themselves mistakenly ask so much that everyone forgets to overbid.

Comments (4) -- Posted by: madhaus @ 7:03 am

4 Responses to “Nothing wrong with this Los Gatos home that price can’t fix”

  1. nomadic Says:

    The current owners used to have goats. Bunus: cheese!

    It’s actually a really nice piece of property.

  2. Alex in San Josebag Says:

    Great place to shoot those snuff films.

  3. nomadic Says:

    Price lowered to $2,395,000 and now pending!

  4. nomadic Says:

    Sold for a $170k loss… $2.26M. Ouch.


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