Home Buying in 95035>Question Details

Priya, Home Buyer in San Jose, CA

Zillow shows recent Sold home sold for 40K in Milpitas is it true?

Asked by Priya, San Jose, CA Tue Jan 6, 2009

Zillow says that the below mentioned home was sold for $40 K........Is it true?
There are many homes in recently sold category which were sold for less than 100 K ....I simply cannot believe it

Eg:
Crater Lake Ave Milpitas CA 95035
3 beds, 2.0 baths,3,000 sq ft

What are the other/hidden costs?
OR
Is this the total amount one needs to pay to own this house in Milpitas?

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Answers

5
Priya,
Given that the lowest price home sold on Crater Lake last year went for $535,000 it's fair to assume that this is a missleading item.
If you really want to track property values the best source is http://www.Realtor.com. This is the only site that mirrors the Multiple Listing Services and is subject to the same standards of accuracy required by those services.
Bill
1 vote Thank Flag Link Tue Jan 6, 2009
In Milpitas, there are all listings that are under$400K See bellow:

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Street Address List Price 1 Beds Baths Bldg SqFt Lot Size Range Age City Class Status MLS Num
721 COYOTE ST $399,000 3 1 1,248 SqFt 4,500+ to 6,500 SqFt 45 Milpitas 1 80937729
1514 BRALY AV $380,000 3 2 1,288 SqFt 4,500+ to 6,500 SqFt 49 Milpitas 1 80908791
1680 ARIZONA AV $379,900 3 1 1,064 SqFt 4,500+ to 6,500 SqFt 54 Milpitas 1 80939210
206 N PARK VICTORIA DR $375,000 3 2 1,348 SqFt 4,500+ to 6,500 SqFt 47 Milpitas 1 80937875
305 BIXBY DR $374,900 3 2 1,102 SqFt 4,500+ to 6,500 SqFt 49 Milpitas 1 80936772
915 BIG BEAR CT $363,900 2 2 1,271 SqFt 1 to 4,500 SqFt 28 Milpitas 1 80939404
601 HEATH ST $350,000 3 1 980 SqFt 4,500+ to 6,500 SqFt 49 Milpitas 1 80938282
348 SYLVIA AV $345,000 3 1 1/2 1,040 SqFt 4,500+ to 6,500 SqFt 54 Milpitas 1 80936467
1259 ABERFELDY WY $325,000 3 2 1,015 SqFt 1 to 4,500 SqFt 25 Milpitas 1 80817269
1256 ABERFELDY WY $299,000 3 2 1,015 SqFt 1 to 4,500 SqFt 25 Milpitas 1 80919350
79 POLARIS CT $288,800 3 2 1,010 SqFt 1 to 4,500 SqFt 40 Milpitas 1 80936380

305 BIXBY, seller has picked an offer, and waiting for final conformatin.
206 N park victoria is in countering now.
Zillow is offering a gengeral information. I think the price you looked there that was the 1st loan,
or the cost lender took back. $400K cannot buy even 1000SQFT house.
My client just bought one at$450K Park Brook(1250SQFT), and other client bought 2119 Seacliff(2000SQFT) from 23 offers. asking price at $507K, but final price is $590K. COEHLE ST $430K(1200SQFT)
Realty World-Blue Property
Jerry Zang
408-930-4684(Cel
jerryzangrealtor@gmail.com






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Web Reference: http://jerryzangrealtor.com
0 votes Thank Flag Link Sun Aug 16, 2009
I was looking at that house on Crater Lake, and our realtor told us to back off because there were several offers, which were driving the price above what they were asking for. I forgot exactly what it was listed for, but it was somewhere in the $400,000 range. Maybe Zillow left off a 0 :)

I've only been on Zillow a little bit, but I've noticed that when they don't have records for houses, they just plug-in abnormally low numbers, which are nowhere near accurate.
0 votes Thank Flag Link Sun Apr 19, 2009
You couldn't get a vacant lot in Milpitas for $40k. Most likely it's a second loan trustee sale.
0 votes Thank Flag Link Mon Feb 16, 2009
Priya:

IF it's too good to be true ... it is. This could be a number of things, but it is not the amount of a real sale nor is it an amount for which this type of home would be available for sale. More than likely it is a RealtyTrac notice of default on a second loan.

See the link below:

http://www.trulia.com/blog/carl_medford/2008/12/when_is_the_…
Web Reference: http://www.carlmedford.com
0 votes Thank Flag Link Tue Jan 6, 2009
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