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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Sea Otter who wrote (105503)	2/17/2008 7:18:51 PM
From: Lizzie Tudor	Read Replies (4) \| Respond to of 306849

I completely agree with you, I see no apparent downturn, except in the marginal things like condos, houses on major streets and marginal areas. I know, because I am looking to buy a dirt cheap house in a marginal area, but what I am looking at is not marginal enough, because those are still selling well. In fact, today I went to a house that you couldn't tell on Redfin but backed up against highway 17. The term freeway noise really couldn't describe this place- it was unbelieveable- but to make matters worse they actually had a POOL back there (I am sure the pool was in before 17). Anyway this place went for ask with multiple offers. They priced it right which might have been 50K down from the absolute peak but it was hardly a firesale. I talked to the agent that told me 100 properties had sold in the past month in this particular area... apparently a lot. what I am trying to say is the "sales are slow" thing might change. anyway on your listing... just odd that they mentioned "menlo park schools", normally you don't mention it unless they are good. Same in my area, Willow Glen has a bunch of distinguished elementary schools but by the time you get to high school you need to get over to Saratoga or Los Gatos. Doesn't seem to affect property appreciation though- the schools are pretty good and the wealthier it gets the better the schools will get I suspect.