Home Selling in Palo Alto>Question Details

Tradeup, Home Buyer in Palo Alto, CA

2783 RANDERS CT, Palo Alto, CA 94303. $3.68m home in midtown looking for buys with specific taste? Can they sell?

Asked by Tradeup, Palo Alto, CA Tue Aug 3, 2010

Help the community by answering this question:

Answers

6
At the most, in today's market, I believe that home might appraise for about 2.5m. Bottom line, property is worth what someone is willing to pay for it. They might find someone who has lots of cash and MUST have that house ... and they will pay more !
0 votes Thank Flag Link Sat Aug 7, 2010
Tradeup,
Having 2 million into a midtown house is not over built. Having over 3 million is. There was one home on South Court that sold for 3.1 in 2007 and one on Rosewood that sold for 3 mil and everything else has sold for less. So if you can get someone to build you a home with permits, drawings, and construction for 800K or less you should be fine investment wise, plus you get a home built the way you want it.
Marcy
Web Reference: http://www.marcymoyer.com
0 votes Thank Flag Link Fri Aug 6, 2010
So over built or over priced? Assuming we're at the peak of 2007/08, could the house even sell at this price for midtown?
I'm researching/exploring a new construction, if I buy a house say 1.2m in midtown, put another 700k to rebuild, is it over build? thanks!
0 votes Thank Flag Link Wed Aug 4, 2010
Tradeup,
The home is large for midtown, and very ornate. Not only have no homes sold over 2.45 in the last 6 months in midtown, but only 6 homes have sold for over 3.6 mil in all of PA in the last 6 months. There is a large house on Ramona in midtown that has been on the market 192 days and is listed at 3.2 mil right now without selling. Randers has been on 52 days. So my opinion is that this is a tough price range anywhere in the bay area right now, but for the Rander's Ct location and lot size, I think they are overly ambitious with what they are pricing at. So the short answer is no.
Marcy Moyer
DRE 01191194
Web Reference: http://www.marcymoyer.com
0 votes Thank Flag Link Tue Aug 3, 2010
This home is beautiful. What is interesting is that since January nothing in that area has sold for much more than $2 mil. So the reality is will this home appraise for the list price?
Web Reference: http://terrivellios.com
0 votes Thank Flag Link Tue Aug 3, 2010
Depends on their agent. Are they guessing or actually providing a proper analysis. What are you looking for. Feel free to contact me directly if you have any questions.
0 votes Thank Flag Link Tue Aug 3, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer