Interesting Housing Anecdotes

Several interesting stories I heard recently:

REO SFH in Tracy: the same kind of house was priced at $280K last year. Peak was $550K+. Now the listing price is $220K. A buyer offered $230K (5% over) but didn't get it. The whisper number is $250K (~15% over).

Another REO SFH in Tracy: 20 yr old, 1,500+ sq ft, 3 BR/2BA. The listing price is $120K, market value $180K, offered $140K (17% over), didn't get it either.

SFH in San Jose Berryessa area: 25 yr old, 1,500 sq ft, 3 BR/2.5 BA. The listing price is $410K (below market). Got 70 offers in 7 days! $480K (20% over) will likely get it.

SFH in West San Jose, Lynbrook High: 1,200 sq ft, 4BR/2BA, listing price in the high $700s. On major street with a bus stop right in front of the house. It went sales pending after one open house!

It seems a lot of investors from out of the state/country are buying distressed properties in CA. Heard there are a surge of applications to get TIN (temporary SSN) from foreign investors who pay cash for homes in the bay area lately.

Fantastic Campbell SFH Next to Saratoga - Open House

1635 Westmont Ave. Campbell, CA 95008

4 Bedrooms, 3.5 Bathrooms
Living: 2,050 SqFt, Lot: 6,000 SqFt
List Price: $869,000

Open House This Weekend
06/27 (Sat) 2 PM-4PM
06/28 (Sun) 2PM-4PM

Contact: Dr. Richard Ho, (408)828-0189, prkho@DrHoRealty.com

Brand New Total Rebuilt - remodeled Single Family House in Campbell next to highly desirable Saratoga LG. Efficient, elegant floor plan and style. Easy living . Priced to sell and move in. Approximately 2050sf living space.

LIKE NEW! COMPLETE ADDITION AND REMODEL! GREAT SCHOOLS! FANTASTIC VALUE! Two master suites with full baths - total of 4 bedrooms! 4 as NEW bathrooms! Spacious family room area with entertainment bonus center. Great floor plan! Gourmet kitchen! Spacious and bright! Desirable neighborhood that borders Saratoga! Close to commute and shopping. Great Campbell Schools.

More details on Zillow.