Thanks to Burbed reader Madhaus for sending in this guest written post. Here it goes:
901 Cascade Drive — With Real Cupertino Schools
Here’s another typical overpriced house in a “special” zip code. What makes 94087 so special? Some of it has REAL CUPERTINO SCHOOLS!
Can you think of anything else to explain the price these sellers are asking? $1.15 million? (Whoops, cut to $1.099 million!) AS IF! The last $1.15 million sale in this tract went down in Spring, 2008, which just happened to be the local market peak. And the property was on a 9500 square foot lot!
Let’s take a look at this one. Oops! Not quite as generous, is it?
Oh, dear, that looks like quite a busy street only one house away. Oooh! Looks like this house is on the corner of a couple of arterials! Well, let’s go inside, shall we?
The original design in this tract is an L-shaped 4/2 with a large living room. 901 Cascade has had some remodeling done in the 1970s. The garage was turned into a room with a half bath and a laundry room off it. Since the new space was set up as a formal living room, the effect of these
utilitarian offshoots is jarring.
Here’s a view of it that cleverly leaves out those rooms that don’t belong.
A free-standing garage was built next to the front bedrooms, ensuring little sunlight. A continuous roofline/gating thing connects the garage with the former garage, giving the house some unity of concept but hey, it’s still an awful shade of olive green.
The smallest front room had a doorway (not a door) installed from the entrance hallway and is used as a piano room. The two rear bedrooms, including the master, were extended five feet into the back yard, so they don’t seem as pitifully small as the front rooms are.
The hardwood was nicely done throughout. Homes in this 1956 tract do have hardwood floors, usually covered with carpeting.
The kitchen made no impression. Probably not enlarged at all but the appliances are newer than 1980.
The front shared bathroom appears to be either the fifties original or a very old update. The master bath was enlarged to replace the tiny shower with a smallish jacuzzi tub. The tiling looks old and feels dated. Well, what do you expect, with a remodel done in the early 1970s?
The agent is from Willow Glen (clearly a wanna-be ZIP who doesn’t know about Special) and obviously doesn’t know this neighborhood. Yes, it has REAL CUPERTINO SCHOOLS, but even so, this is overpriced. Corner undersized lot, too close to Mary Avenue, schools threatened with layoffs and severe budget cuts, 2008 peak sale of 1.15m was on 9500 sf lot on quiet street. Agent admitted this Green Home was listed for $1.2m last summer and the sellers didn’t get the price they wanted: 1.15m. Now they’re just asking for it up front.
Not many other visitors, either, just 2 couples, one when we arrived and one as we left.
Evidently the agent decided to drop the price after a month of no “serious” offers, and now it’s Pending Without Release. Given that only ePraisal estimates this home as being worth anything remotely near that, do you think those those REAL CUPERTINO SCHOOLS will keep adding as much value as they had?