Thank you for your question homebuyer:
This was an intrafamily tranfer. This was not an arms length transfer.
This a good example of one of the reasons why you cannot rely on the internet for accurate information with respect to home sales.
This transaction is not reported on our Multiple Listing Service, although it was recorded with the Santa Clara County Recorder's Office back in April, and was reported on the internet. However part of the information is that it was an intrafamily transfer, not an arm's length transfer..
For an intrafamily transfer the price paid for the property is influenced by many other factors other than the true fair market value of the property. That is one of the reasons that we do not use intrafamily transfers to determine the true fair market value of a property.
Charles Butterfield MBA
Real estate Broker/REALTOR
Cell Phone: (408)509-6218
Email Address: firstname.lastname@example.org