True or False Friday: Answers
Here are the answers for last week’s True/False trivia:
(1) Palo Alto is not known for its affordable homes, but in today’s climate the prices have dropped. There are currently 3 homes for sale in the city of Palo Alto (not East Palo Alto) for under $1mil. All have been on the market less than 10 days. They range in size from 692 sf to 1640 sf and in price from $825,000 to $950,000.
ANSWER: Amazingly enough, this is true. The homes are located at 109 Webster (2/1.5, 692 sf, 2178 sf lot, $825,000), 3217 Greer (3/1, 1004 sf, 5662 sf lot, $920,000) and 612 Palo Alto Avenue (2/2, 1640 sf, 2178 sf lot, $950,000). However two of these appear to be on the same lot (109 and 612) and will require a TIC agreement.
(2) A modern 5-year-old home in Pacific Heights goes on the market in mid-October for $3,600,000. It has 3 bedrooms, 2 baths, high-end kitchen, and decent views, not to mention a two-car garage. Within two weeks it is pending, and when the deal closes in December, the final sales price is $3,900,000, which is $300k over asking.
ANSWER: True. The location is 4924 17th Street. Oh, and did I mention the buyers paid cash? I am wondering if this can only happen in SF and in high-end homes? Thanks to The Front Steps for finding this gem.
(3) A twenty-year-old Traditional home on Christmas Tree Lane (I won’t mention which city) came on the market just last week. A 3/2 with 1840 square feet, the home is listed for $1,225,000. Well landscaped, with additional bonus room and a pool in the backyard, the home has been well maintained, although not updated. Do you think they are taking advantage of the season with this one?
ANSWER: False. But I thought I was clever making up the price to coincide with the actual date of Christmas!
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