I wish I could add comments to home listings to save folks the time of visiting properties that are insanely overpriced... oh wait, I guess that would be ALL houses in the bay area.
Well here's an example It's a 4/2 that sounds nice in the description, has a very large lot, very desireable. So why has this listing not sold in over 100 days despite several price cuts???
I think the listing has had plenty of traffic, but once you discover you have to walk down a steep path to the house, look around the tiny main floor with low ceilings and itsy bitsy rooms, then eventually you still have to ASK the realtor how to get to the lower level.
That's when she'll tell you to go BACK OUTSIDE, and around the side of the building, and then into a bizarre basement in a strange configuration. Now you'll decide this is more than a fixer. This is a teardown. The land value of the place is maybe $500k. The garage is probably salvageable, and the deck too, so what should the asking price be??? Not more than $600k in today's market. And that's before accounting for the price falls that are starting in the peninsula.
Belmont has never commended the prices of Palo Alto or Burlingame, but the owners seem to think so. They need to get real.
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