Property Q&A in Saratoga>Question Details

Mukesh, Home Buyer in 95054

What is the deal with this home. It was sold at 480K in 2007 and 750K in 2004. Insight?

Asked by Mukesh, 95054 Tue Dec 30, 2008

What is the deal with this home. It was sold at 480K in 2007 and 750K in 2004 and 1200K in 2006. Such a fluctuation. I am little concerned. Would someone provide some insight on this please.

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This question is about this property: http://www.trulia.com/property/1069532874-14215-Worden-Way-S…

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Answers

7
Mukesh,
I think Roland is correct. Some additional information may be helpful: The property was originally listed with an Intero agent on 10/27/08 at $1,199,000 and the price was dropped to $980,000 on 12/3/08. The Assessed Value of the property is currently at $1,250,000, mostly land value of $1,150,000. The land is nearly a third of an acre, although probably not all buildable. I is sometimes helpful to have a structure on the land for lending purposes.
Rick Bonetti
Alain Pinel Realtors
Saratoga North office
408-857-8800
0 votes Thank Flag Link Thu Jan 1, 2009
Appreciate your answers Roland. I am deeply thankful to you and Rebekah for the insight and input.
0 votes Thank Flag Link Tue Dec 30, 2008
Roland,

Wow, you're right! 12/19/08.
I got thrown off track by the MLS. The listing is still in place since 10/07/08.
I wonder if the agent knows that PLM owns it now!

This market is CRAZY!

R
0 votes Thank Flag Link Tue Dec 30, 2008
The most recent sale was for $1,25 mil. in 4/07. The adjacent parcel was purchased by the same party for $1.6 mil. Considering the age and size of the house(s), it was probably a builder intending to tear down and rebuild and got caught up in the housing and building collapse. Poor timing. The bank foreclosed in Dec. '07 and the reported transaction cost of $480K does not represent a sales price, but a valuation placed on the loan default. The current asking price is more or less in line with the value of a 1/4 acre lot in Saratoga.

Roland
0 votes Thank Flag Link Tue Dec 30, 2008
Mukesh,

This property has had the same owner since 4/6/06.

What "entry" are you talking about? What's your source?

R
0 votes Thank Flag Link Tue Dec 30, 2008
Yes , We are planning to make a move. There is one more entry for December 2007 for this property where it is mentioned that it was sold for 480K. Anything you can tell us about this that will shape our decision.
0 votes Thank Flag Link Tue Dec 30, 2008
Hi Mukesh,

I don't know where trulia gets their info. Public records show it selling 12/12/03 for $750K and 4/6/06 for $1,250,000.

Saratoga has been relatively stable. It's a desirable neighborhood, especially in the small town community of the village.

How has Santa Clara been for you? Thinking about making a move?

Where do you think trulia gets their info?

Rebekah
0 votes Thank Flag Link Tue Dec 30, 2008
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