September 8, 2011

This Peacock is Looking a Little Less Proud

Today’s listing is courtesy of Burbed reader rotoiti, who alerts us to a frequently featured fiasco in Mountain View!


1755 PEACOCK Ave, Mountain View, CA 94043


SQ. FT.: -
LOT SIZE: 6,200 Sq. Ft.
PROPERTY TYPE: Residential Land (Single Family)
VIEW: Neighborhood
COMMUNITY: North Shoreline
COUNTY: Santa Clara
MLS#: 81138265
STATUS: Active
ON REDFIN: 1 day

Huge price reduction! Motivated seller! Price includes approved plans and permits from the city of Mountain View.

imageHere’s what rotoiti had to say about this place:

$1,380,000 for an empty lot, but with a pretty house … painting. List price reflects home being built by owner – what does it even mean? I have to pay 3x going price for the land in the area and then I have to pay for the house? Ugh, no.

Now when rotoiti first sent me this listing, this lovely illustration was indeed part of it, along with that insane $1.38M wishing price. (You can still find that withdrawn listing on a few places, like on Trulia.)

The painting’s been since pulled, and for that matter, so was the listing. But it’s back, and it’s better than EVEH! Without the painting, you save $652,000!  That’s so much instant equity you’re going to need to build an extra house to keep it in!  Good thing the lot is cleared for takeoff!


But that isn’t the best part. Burbed has featured this property not once but twice already!  Let’s fire up the ol’ Wayback Machine and have a look.  First, we ran this vacant lot amazing opportunity just seven months ago!


Only back then, the seller assured us there was a 4 bedroom 3 bath house on the place, or at least the price reflected that there was GOING to be one.  Even though the plans were approved, they’re not in the February listing, which was remarkably short on photos.

But this place has been on and off the market for much longer than that!  Try another year back!


Just how many times was this property listed, anyway?


And if we head over to Zillow, we can fill in some of those missing asking prices.


imageimageWow, my head hurts!  Either the seller was a couple who couldn’t agree on a pricing strategy (and went around behind each other’s backs signing listing agreements as well as hiring architects), or they were very suggestible and had a manic-depressive agent who couldn’t decide if this was a peacock or a pee pot.


Net result: Seven different listings (6 MLS and one FSBO on at wildly fluctuating prices since Summer, 2008, for a place that sold for only $674,000 at the peak of the Bubble.  No wonder, even at a reduced price, it’s still clearly worth an extra $54,000 for all their time and trouble.

Shake out your tailfeathers, strut on down, and pick up this display property today!

Comments (31) -- Posted by: madhaus @ 5:11 am