Why is this property 1434 Fremont Ave, Los Altos still on market after 20 days?

Asked by Bob, Los Altos, CA Sun May 5, 2013

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7
Lindy Latham, Agent, Los Altos, CA
Mon May 6, 2013
You know the old real estate adage - location,location, location. Well this holds true for this property. It fronts Fremont Ave. Fremont has always been a busy street but over the past few years it has become extremely congested during commute and school opening/closing times.

The next factor is condition This home is in rough condition. The majority of buyers want a home they can move right in to.

Finally there are the bones of the. home. If you have looked at houses on the west side of Fremont, you will find plenty of this style with a single room comprising the second story. In this particular house, this room is a little claustrophobic. At the bottom of the very narrow staircase leading to this room,there are even pipes sticking out of the wall from a bathroom. This house also has no master bedroom.

What this home does have going for it is a large lot (over 12,000 SF). For someone who wants to build or do a major remodel, this might be the property. During a rebuild, it might be possible to make the entrance to the house on Austin rather than Fremont. Adding in a fence along the Fremont Ave side for both sound and visual privacy would also help.

At the right price, this property will sell.
1 vote
David Blockh…, Agent, Los Altos, CA
Mon May 6, 2013
Bob,

The home probably hasn't sold for a couple of reasons: (1) tough location - Fremont avenue can be quite congested especially during morning commute times. (2) Some of my buyers have told me that Parkhill neighborhood homes are difficult to effectively remodel without doing a major reconstruction. Their footprints don't lend to an easy add-on. They don't have a master bedroom and the upstairs room is difficult to reach - steep stairs (3) Lastly, the backyard on this home is effectively a side yard that fronts Fremont avenue - again noise and traffic issues.
If you look at the history of the home, it has proven to be a difficult home to sell. It has been on the market 6 times in the last 13 years (totaling over 700 days of actively being on the market) and has sold once (2002). Because of its drawbacks, price is going to be the reason someone buys it. It must be priced low enough to entice a buyer to take a look. If it isn't sold in the next week or so, the market is telling us that it is overpriced.
FYI - in our low inventory pro-seller's market, homes with incurable defects (location and/or footprint) are more likely to sell because there isn't a variety of options for buyers. Just wait, the home will eventually sell but it is not a location I would recommend to my client's if they want to stay long term.

David Blockhus
Coldwell Banker - Downtown Los Altos Office
161 S. San Antonio Road
Los Altos CA 94022
650 917-4250
Http://www.LosAltosHomes.com
1 vote
Susan Sweeley, Agent, Los Altos, CA
Thu Oct 17, 2013
The home listed for $1,478,000 on April 10th. Sold for $1,450,000 on May 14th.

Yes the market was really moving fast then with multiple offers after one weekend on the market. This home took a little longer due to it facing onto a fairly busy street. Cute home.
0 votes
Juliana Lee, Agent, Palo Alto, CA
Sat May 18, 2013
The home sold 34 days after being offered for sale. It was priced near the average Los Altos per square foot price. Basically it took somewhat longer for the "right buyer to make an offer at the right time".

Los Altos real estate statistics http://julianalee.com/los-altos/los-altos-statistics.htm

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650-857-1000

Over 20 years experience
Over 1,000 homes sold in Santa Clara and San Mateo Counties
.
Web Reference:  http://julianalee.com
0 votes
Terri Vellios, Agent, Campbell, CA
Mon May 6, 2013
Lindy gave you an excellent answer.

Everything eventually sells. If it isn't sold it usually comes down to price. If you are interested in the home. write an offer which you feel is of value to you, before the reduce the price or before someone else writes an offer.

Have an amazing day!
Web Reference:  http://www.TerriVellios.com
0 votes
John Souerbry, Agent, Fairfield, CA
Mon May 6, 2013
Perhaps the property is already in negotiation, only the listing agent can answer your question with authority. But the property is offered "as-is" and the inspection disclosures include three pages of Section 1 termite damage, fungus, water damage, exposed wires and lots of other stuff that says this may be a major remodel or tear-down project.
0 votes
Thomas Feng, Agent, Cupertino, CA
Sun May 5, 2013
It looks like the home has not sold yet Bob so it is currently still active on the MLS.

For further questions please call at (408) 840-3852 or Thomas.Feng@gmail.com
Web Reference:  http://BayAreaConnect.com
0 votes
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