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Market Insights – August 26, 2017

Well you are hearing it here first, some very exciting sales this week: The Mossbrook Eichler had something like 18 packages out which turned into 7 offers.  It ended up at about $1.7m — yes, $300k over list price and where 2 doors down I just sold in January a brand new rebuild Eichler at $1.556m.  Crazy?! The Fairorchard Willow Glen Eichler, which was completely updated (with Blomberg sliders by the way) had offers that pushed it up to $1.75m where the highest sale in that neighborhood was about $1.5m last year.  Crazy?! So, what I think is happening is the ripple effect.  People who were thinking they could get into Sunnyvale or Cupertino around $1.8m+/- have accepted that won’t happen, so they are being pushed to their next tier choice which will be Mossbrook and Willow Glen.  That means they have a lot more ability to drive up prices in those areas from $1.5 to where we see them now.  Is it sustainable?  Probably.  Just because one person offers $1.75m for Fairorchard doesn’t mean there is another one who will do it again on the next house, but it does make a statement. Just my take on it.

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Stunning Ultra Modern Eichler for Rent in Mountain View

A stunning remodel that must be seen to appreciate.  Ultimate chefs kitchen featuring Pedini cabinets and Miele appliances.  Open living room, kitchen, and dining room for the best family experience.  Huge glass doors opening to finished patio to enjoy indoor/outdoor living and entertaining.  Convenient location for cycling to work or nearby Caltrain. You won’t want to miss this one! $4,950 […]

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