Are We Seeing 2004 Prices?

While we all know that prices are dropping, Today’s Daily Stat Leader made me think that we are approaching pricing levels that are at the 2004 mark. Listed for $600,000, this 40-year-old San Jose home is priced just $25,000 more than it sold for in September of that year. While it is not specified as a foreclosure or bank-owned property, the last time this home changed hands (November 2006), it went for $739,000. And given the fact that the photos are devoid of any signs of life, save the notes on the refrigerator door, it may very well be vacant and under a cloud of some sort. Located in the Blossom Valley, this looks like a very nice home, well within Zillow and eppraisal estimates, close in price to similar listings, as well as recent sales. The only thing that bothered me was that there are 3 other properties on this street, within a one-block radius, that are for sale or have recently sold. Is it something in the water?

For some more doom and gloom, check out the front page of the SF Chron today. The headline screams at you, “How Low Will We Go?”

Recent Sweet Digs Posts:
Sales Drought on the Mid-Peninsula
Livin’ Large Near Downtown Walnut Creek