Good Detective Work, Watson

sherlock.jpgYou Redfin fans are bloodhounds, to be sure. Putting us to shame, you are. Lately you’ve been finding the homes that have the biggest reductions, like the home I wrote about on Tuesday in San Pablo, which had endured 8 reductions for a total of 57%. Today’s home atop the Daily Leader Board, while not quite the cut-rate “bargain,” is in that same category. Down in Santa Clara County, there is a 4/1.5 rancher that went on the market in September for $660,000 (having last sold in 2005 for $580,000). The home is typical of the Evergreen area of San Jose, with 1,120 square feet on a slightly larger-than-standard lot. Although there is only a picture of the exterior, the listing description notes a remodeled kitchen, new interior paint, new front lawn and fence. Despite the fact that this is not a trashed home (like this one last week), it has sat unsold for over 5 months. During that time it has been reduced 3 times for a total of 43%. So what started out at $660,000 is now $390,000. That’s just $348/sf, which is about $150/sf lower than other comps in the area.

Recent Sweet Digs Posts:
Darn Good Deals in Danville
It Could Have Been Us…
Ridin’ the Waves
Morgan Hill – Far Enough to Get Away, Close Enough to Commute