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Old 01-29-2013, 05:27 PM
 
Location: Boulder Creek, CA
9,197 posts, read 16,839,999 times
Reputation: 6373

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Is there oil or gold on that property? Buried treasure? Nice place, but nowhere near $117 million nice.

Not a whole lot of subdividing space available on 9 acres, and they don't go for that stuff in Woodside, anyway.
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Old 01-30-2013, 12:25 AM
 
Location: In a bubble bath with a beer!
470 posts, read 1,073,662 times
Reputation: 218
Quote:
Originally Posted by pch1013 View Post
Per Zillow, a nearby house listed at $85M (but whose "Zestimate" is a mere $48M) would rent for a suspiciously low $6,438/mo. I think their numbers are a bit off.
That is why Zillow makes me crazy ... The numbers are always so off!

Homes in Malibu, etc. rent for over $10k a month and they're not even worth half of that one!

HUGz! Jules
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Old 01-30-2013, 12:27 AM
 
Location: In a bubble bath with a beer!
470 posts, read 1,073,662 times
Reputation: 218
Quote:
Originally Posted by pch1013 View Post
Hey, I could afford that! If I had 63 roommates.
ROFL .... Count me in!!!
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Old 01-30-2013, 01:31 AM
 
28,115 posts, read 63,659,938 times
Reputation: 23268
Taxes are based on fair market value at the time of transfer...

I've been caught on this twice... both were arms length transactions that were listed on the MLS.

Homes needed work and I was able to buy right... after many visits by Assessor Staff... both ended with assessment slightly higher than what I paid... and so it is in Alameda County.
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Old 01-30-2013, 09:17 AM
 
Location: San Jose, CA
7,688 posts, read 29,149,957 times
Reputation: 3631
Quote:
Originally Posted by Ultrarunner View Post
Taxes are based on fair market value at the time of transfer...

I've been caught on this twice... both were arms length transactions that were listed on the MLS.

Homes needed work and I was able to buy right... after many visits by Assessor Staff... both ended with assessment slightly higher than what I paid... and so it is in Alameda County.
The one and only time I tried to buy a house, the assessment came in low and that caused the financing to fall out. The funny thing is, it came in low because the lending bank used the listing itself as a comparable and the lister (another bank) had slashed the price $25K despite having multiple offers on the table, before it went pending. Then they turned down my counter-offer to match the appraisal only to turn around and sell it for even less. Amazingly dumb.
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Old 01-30-2013, 09:36 AM
 
28,115 posts, read 63,659,938 times
Reputation: 23268
Quote:
Originally Posted by sonarrat View Post
The one and only time I tried to buy a house, the assessment came in low and that caused the financing to fall out. The funny thing is, it came in low because the lending bank used the listing itself as a comparable and the lister (another bank) had slashed the price $25K despite having multiple offers on the table, before it went pending. Then they turned down my counter-offer to match the appraisal only to turn around and sell it for even less. Amazingly dumb.
I remember... we would have been neighbors

I doubt I will ever understand the world of banking especially when the property ultimately changes hands at a later date for less.

My brother had found a home for his family... he made a good offer that was rejected... during the 7 weeks that bank was screwing around... the home was vandalized and copper taken. The result was the bank received even less... significantly less.
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