This neighborhood is on the border of Los Gatos. This neighborhood is often a desirable alternative for people who want to live in Los Gatos but are priced out of the Los Gatos Market.
Recent closed sales in the Los Gatos market, less than 1/4 mile away are in the range from a low of $1,285,000 to a high of $1,550,000 for houses that range in size from approximately 2,200 square feet of living area to approximately 2,600 square feet. The lot sizes are in the range of approximately 7,000 to 8,600 square feet.
A number of my clients have purchased homes in this neighborhood, when the Los Gatos prices were too much.
Given the proximity of this neighborhood to Los Gatos, your primary influence for this neighborhood is Los Gatos. Your primary competition for this neighborhood is Los Gatos. In this neighborhood your are at the lower end of the price range and the size and improvement range. For the purpose of resale value, that is a very good place to be.
The size of the home on 5076 Redstone Drive is a little less than the size of the Los Gatos homes, but at 1,924 square feet is still good sized. It also appears that the home at 5076 Redstone Drive has been very nicely remodeled with good quality materials and finish work.
With respect to resale, as long as this home is priced at Fair Market Value, a competent REALTOR will have no difficulty selling this home. There is a large amount of demand for this area precisely because it is on the Los Gatos border, yet the prices are substantially less than Los Gatos prices.
Given the enormous amount of demand for this neighborhood, I expect that this property will be bid up with multiple offers. I would expect a final sale price for 5076 Redstone to be approximately $950,000.
For more information you may reach me at my cell phone: (408)509-6218
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Email Address: firstname.lastname@example.org
2002 sold for $450k as a 5 beds / 2 baths 1641 sf
2003 sold for $568k as a 3 beds / 2 baths 1400 sf
2010 sold for $835k as a 3 beds / 2 baths 1924 sf
It is my opinion, in today's market, this home will sell for at least the listed price if not more and with multiple offers. By the way, offer deadline for this home is next Monday the 18th by 12pm.
This home has a lot of remodeling over the years. Who knows as to the quality of workmanship. I would recommend a potential buyer research the permit history prior to making an offer and then submitting any offers with a contingency to allow buyer at least 7 days to complete a thorough home inspection.
Andrea Wince - RE eBroker Inc. - 01439761
Thanks for you post. I agree with everything my esteemed colleague Charles Butterfield has already mentioned regarding this neighborhood. However, you should plan to discuss your specific concerns with your own Realtor.
Personally, I expect pricing in this area to exceed the $1 million mark especially given lower inventories and location. This home will also be on the market for two weekends, which can be a bad or a good thing...depending on how you view this.
So get yourself an agent to help you navigate this sale! Good luck!
Allison James Estates and Homes
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There are 6000+ Realtors in Santa Clara County alone. As with any occupation, law, medicine, etc... all Realtors are not equal in experience, skills, training and effectiveness. Take the time to learn about a few Realtors and interview a couple. Hire the best. Why not?
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