Every now and then I come across a listing that tests and even potentially defines the market, and I'd like to start sharing those with you, Dear Reader.
First up: There's a new listing on Brookdale Avenue in Mountain View that has captured my attention. It's a 4 BR, 3.5 BA, 3385 sq ft home on a large 10,560 sq ft lot with excellent Mountain View Schools, listed at $2,195,000.
The main reason I find this listing so intriguing is because the last time it changed hands in 2005 it sold for $1,335,000. Now 2005 was not the absolute peak of the market, but I think we can all agree that it certainly was the heyday of the Housing Bubble.
Granted, some improvements have been made since then, including new roof and gutter system according to the listing. There is also new exterior paint/shutters, new flooring throughout the main level, painted cabinets, new countertops/backsplash and all new appliances in the kitchen and new french doors out to the backyard. And you may be wondering: how do I know this? Because even though only a facade photo was used in the MLS in 2005, the virtual tour is still live. Here are some side by sides:
So while this is not an apples to apples comparison by any means, appreciation of $860,000 (64%) from the near top of the housing boom to today, even with the (mostly cosmetic) improvements made, would be quite something. That's why this listing is One to Watch! Offers are due on Tuesday, 12/12, and I will have an update shortly after that.
Side note: If they do get near the asking price, let this also be a case for staging and professional photography. This property is very nicely presented this time around.