What’s Hot and What’s Not

Before we get to today’s post, let me point out that Redfin rolled out its new version today. New fonts, new layout, much larger map, the addition of eAppraisal.com, as well as nearby similar listings and sales, and listing price history. Redfin got it right with these new additions. It gives you even more information to make an informed decision on homes and their potential sales price. So don’t forget to check it out, or just click on one of the links below, to see what’s been done to help you, the consumer.

As for what’s hot and what’s not, we had some big numbers on the Daily Stats board today, with three homes standing out from the pack with big viewing numbers. So what are you looking at and what is not on buyer’s radars?

hot2.jpgHOT: 25 Avenida Espana, San Jose. This 3/1.5 home on a slightly oversized corner lot is located in the Santa Teresa area. Priced at $499,000, this rancher has a gourmet kitchen, hardwood floors and several other upgrades/updates. On the market 77 days, it last sold in October of 2006 for $637,000, and was originally listed at $569,000, meaning a 12.4% drop in price. Sure wish there were more (and better) pictures and better listing

NOT: 7202 Lomas Via, San Jose. Also in the Santa Teresa neighborhood, this 3/2 corner home with a pool has been on the market 202 days and isn’t selling with the current price tag of $589,000. It started out in July at $710,000 and 17% in reductions doesn’t seem to be helping.

hot2.jpgHOT: 1733 Scott Street #2, San Francisco. This two-level townhouse has 2 bedrooms, 2.5 baths and is only 6 years old. Located in a 3-unit building in lower Pacific Heights, the price tag of $1,195,000 buys you a parking space, private deck with views, built-in office, and other high-end amenities. On the market 13 days, this unit last sold in 2005 for

NOT: 2021 Webster, San Francisco. This 3-story Pacific Heights SFR is charming (with 27 photos to prove it), but has been on the market for 182 days. Priced at $2,849,000, it has seen what the realtor calls “drastic price reductions”—three of them for a total of 18.5%. Still, no takers.

hot2.jpgHOT: 5896 Lean Way, San Jose. This 3/2 rancher is in Blossom Valley and very near to Highway 85. The best thing about this home is the backyard. There is an enclosed sun room and a backyard that looks like it belongs in a rural, bucolic setting along a creek, with its stone lined grassy area and shade trees. On the market 84 days, this home has seen one price reduction (just last week) of almost 17%, which means the sellers are serious. Last sold in February of 2006 for $725,000, which means a 30% fall in value in just less than 2 years. Ouch!

NOT: 5898 Pontius Court, San Jose. Also a 3/2 in Blossom Valley, this Spanish-inspired rancher has been on the market 220 days. Last sold in April of 2003 for $477,000, this home has undergone 4 price reductions, but for a total of only 17%, with each reduction being between 3-6%.

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