Patrick.net

701 Middle, Menlo Park, CA 94025

By Patrick   Follow   Sat, 31 Mar 2012, 10:28am   2,088 views   10 comments
In Menlo Park CA 94025   Watch (0)   Share   Quote   Permalink   Like   Dislike  

Another insanely overpriced house in Menlo Park. This one is on a busy street, a bit too close to Safeway and El Camino Real.

Though 3br, its busy location probably means this one would rent for "only" $3K/mo, so it's at least half a million dollars overpriced relative to rental-equivalent value.

See http://www.701middle.com/ for the usual spin.

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1. rootvg Follow Befriend (8) 1 threads 792 comments Danville, CA Premium

   1   11:33am Sat 31 Mar 2012   Share   Quote   Permalink   Like   Dislike   Protected   Patrick, you need to get out of there. That's insane.

2. Patrick Follow Befriend (54) 5,191 threads 6,158 comments 46 male Menlo Park, CA

   2   4:32pm Sun 1 Apr 2012   Share   Quote   Permalink   Like   Dislike   Those are three excellent points (price, lot size, no apts near) but I think the busy location cancels out the advantages, at least for me. I know that area and it's just too much traffic. And you might say I'm paranoid, but the gas station at the end of the block would worry me too. There were some statistics that showed proximity to a gas station is a major factor in cancer risk.

3. bg Follow Befriend (13) 42 threads 313 comments Pacifica, CA Premium

   3   7:57pm Mon 2 Apr 2012   Share   Quote   Permalink   Like   Dislike   Protected   That is a super crazy price. Just because you nicely stage a dinky house you are going to get 1.2 MILLION DOLLARS??? Those are some nice pillows and a cute lamp. Are those included? Crazy talk.

4. Tom Stone Follow Befriend 34 threads 62 comments Sebastopol, CA

   4   8:20am Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike   Nice staging and photography. Both are important in getting potential buyers to set foot in a home and that's what sells a place.

5. thomas.wong1986 Follow Befriend 16 threads 4,426 comments

   5   10:53am Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike   There is a sucker born every minute.. or in another words 'How to make 300K in 60 days" ... someone cleary did. Today HO clearly taking a loss on their mistake. Property History for 701 MIDDLE Ave Date Event Price Appreciation Source Mar 23, 2012 Listed (Active) $1,149,000 -- MLSListings #81210999 May 24, 2007 Sold (Public Records) $1,169,000 403.5%/yr Public Records Mar 13, 2007 Sold (Public Records) $850,000 -- Public Records

6. Patrick Follow Befriend (54) 5,191 threads 6,158 comments 46 male Menlo Park, CA

   6   11:46am Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike   Good find!

7. jvolstad Follow Befriend (4) 996 threads 1,128 comments San Antonio, TX jvolstad's website

   7   2:51pm Tue 3 Apr 2012   Share   Quote   Permalink   Like   Dislike   Check out the slimy looking Realtard for this property. http://www.zillow.com/profile/bmcnair/ I see he was a CEO of a former "dot-bomb" company. http://techcrunch.com/2008/03/25/peerflix-proscranating-on-customer-refunds/ Trying to strike it rich with other peoples money. I can see now why he went into the RE business.

8. anon12366 Follow Befriend (2) 61 comments Palo Alto, CA

   8   11:39am Fri 6 Apr 2012   Share   Quote   Permalink   Like   Dislike   "this one would rent for "only" $3K/mo" That is crazy. I understand people in the bay area have higher salaries, but people making 6 figures don't deserve to be put into a situation where they must live and raise families in housing designed for people making minimum wage.

9. gary275 Follow Befriend 1 threads 17 comments

   9   8:59am Sat 7 Apr 2012   Share   Quote   Permalink   Like   Dislike   Patrick, maybe you should include a section in comments about whether it would sell or not and what would be a fair price. I know I am going to get a lot of comments along the lines of "plenty of suckers born everyday" but seriously if it sells for that price who really cares about people who are left out. No one cared in past and no one will care in future. Bay area has always been flooded with easy money whether its IPO's or hedgefunds or wahtever the flavor of the year is.

10. anon595 Follow Befriend 1 threads 12 comments Menlo Park, CA

    10   2:42pm Sun 8 Apr 2012   Share   Quote   Permalink   Like   Dislike   And yet this house went pending after 2 weeks. It is across the street from a great playground, dog park, walk to the grocery store, etc. And it's an above avg size lot for the town. Frankly, I this was a fair listing price, and I'll be interested to see the final sale price.