Home Buying in Mountain View>Question Details

mtview, Home Buyer in Mountain View, CA

Why not sold yet?

Asked by mtview, Mountain View, CA Wed Oct 17, 2012

why hasn't 1432 brookdale ave 94040 sold yet? Another home in the same neighborhood sold for similar price yet much older, not a complete remodel or fewer amenities. If you cannot answer, I understand.

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Juliana Lee’s answer
A quick search shows there have been 19 homes sold in Mountain View since 1/1/2009 which sold for over $1,800,000. Nearly all were either brand new or in Los Altos school district boundaries.

Only 8 homes were sold during this time period at $2M +. Six of them were brand new. Of the two which weren't brand new one had a nearly 16,000 sf lot, was a 1920 home in incredible condition offering a style seldom seen in Mountain View. One had 4,309 sf living space and a 19,400 sf lot. A ninth home sold at just under $2M, wasn't brand new but had Los Altos schools. The listed living space of the Brookdale home is 668 sf larger than the county records.

The asking price puts the home where it has to offer desired features that essentially no other home offers.

Juliana Lee, MBA LLB
cell: 650-857-1000
Top 3 agent nationwide at Keller Williams Realty

Over 20 years experience
Over 1,000 homes sold in Santa Clara and San Mateo Counties
Web Reference: http://julianalee.com
1 vote Thank Flag Link Wed Oct 31, 2012
This home is overpriced, and because it has been on the market so long the listing is "stale." Additionally, while this home is fully remodeled and would be lovely for some people, the home's floorplan is a bit awkward for many families; the floorplan is split with only the master bedroom and sitting area upstairs. The other bedrooms are downstairs and of course, there is the guest house in back. Many families with younger children prefer to have the children's bedrooms on the same level as the master. The garage access is also unusual.

For this price in the Mountain View school district families can purchase large homes with better floorplans for a lower price. While this home does have a lot going for it in terms of square footage, due to the location (Mountain View schools) and the floorplan, it is handicapped in it's appeal.

Lori Orion, Broker Associate
Orion Partners @ DeLeon Realty
650.539.LORI (5674)
Web Reference: http://www.opartners.com
0 votes Thank Flag Link Mon Dec 3, 2012
Normally, irf a house does not sell over a protracted period of time; I would immediately assign the label of OVERPRICED.

While that may still be the case; it is very possible that there are other factors:
There is a shortage of Buyers, who are qualified, in the higher priced category. And the Lenders are a little reluctant to lend a LOT of money on one house.

If you are interested in the house, you really have to be concerned with two things;
What does the CMA show/ (for Market Value), and,
What do the Inspections show?
0 votes Thank Flag Link Tue Nov 20, 2012
Hi Mtview:

Whenever a home doesn't sell there are one of three factors that can be attributed to slower sales:

1. Price
2. Price and condition
3. Price and location

All things considered, if a home is not selling, the culprit is most commonly pricing. The price is too high for the condition of the home versus that of other homes and the price may be too high for the location and the features of the location.

Pricing is one of the trickiest things to determine in any housing market (whether the market is going up or down). I know many sellers look to other homes and say, "my home is sorta like that one that sold for 'x' dollars...we should be able to get more than that...", but the truth is that the market changes almost daily depending on the time of year, the weather, the available competing homes, the changes in laws or taxes, etc. The smart sellers works WITH the agent to prepare and debut the home at a good price that both attracts buyers and obtains a good financial outcome for the seller.

So if a home doesn't sell, it's most often priced incorrectly.
0 votes Thank Flag Link Tue Nov 20, 2012
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