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$399,000 for 87 SOUTHSEA Ct, San Jose, 95138

By supersunken   Follow   Wed, 11 Apr 2012, 10:27am   2,453 views   11 comments
In San Jose CA 95138   Watch (0)   Share   Quote   Permalink   Like   Dislike  

3 bedroom, 2 bath single family home. From the history on Redfin it seems like someone purchased it just a month ago for $295k and from the photos it seems like a complete remodel on the inside. House built in 1981 so the foundation is decent.

I've seen several houses in this area on the short sale market or selling for around this price. I actually bid on a house on Silver Leaf Rd for $385k but I later decided to back out as the area is questionable. From Silver Leaf Rd I could hear the traffic noise on 101 standing in the front of the house. In terms of freeway access it's close to 101 but it's a trek to get to 85. There is not much around except for a Walmart. Walmart only caters to certain population. The schools suck.

The only winner here is the flipper.

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

   1   10:54am Wed 11 Apr 2012   Share   Quote   Permalink   Like   Dislike   How do you know about the previous sale date and price? Realtor.com has it as "Last sold for $485,000 on 4/26/2004" but of course their integrity is, uh, questionable.

2. CrazyMan Follow Befriend 449 comments Boulder Creek, CA

   2   10:55am Wed 11 Apr 2012   Share   Quote   Permalink   Like   Dislike   On the bright side someone will never have to pay it off. They'll be long dead from cancer by then.

3. Nobody Follow Befriend 10 threads 274 comments San Jose, CA

   3   12:38pm Wed 11 Apr 2012   Share   Quote   Permalink   Like   Dislike   Patrick, Check the Redfin. Let's wait and see if they can find a sucker. There seems to be enough of them around.

4. supersunken Follow Befriend 6 threads 18 comments Cupertino, CA

   4   1:04pm Wed 11 Apr 2012   Share   Quote   Permalink   Like   Dislike   On Redfin they listed the sell price just a month ago for $295k. Probably a group of investors bought it at the court house.

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

   5   2:11pm Wed 11 Apr 2012   Share   Quote   Permalink   Like   Dislike   Patrick, the problem with Realtor.com is not integrity, it is competence and integrity. Redfin and Trulia are both better (And both have much better functionality than the MLS).

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

   6   2:30pm Wed 11 Apr 2012   Share   Quote   Permalink   Like   Dislike   Yes, I should have checked Redfin and Trulia. They are better. But of course, they're still tied in to the whole commission-based sales thing, so they're still not on the buyer's side.

7. E-man Follow Befriend (31) 34 threads 2,554 comments San Jose, CA Premium

   7   9:28pm Wed 11 Apr 2012   Share   Quote   Permalink   Like   Dislike   Protected   How much do you think the flipper spent on remodeling & staging the house? How much do you think it will sell for?

8. berational Follow Befriend 5 comments

   8   10:13pm Thu 12 Apr 2012   Share   Quote   Permalink   Like   Dislike   Silverleaf should be a nice neighborhood. I lived there for a few years, but landlord wanted more rent than I felt it was worth. Too many shopping carts showing up and a few sidewalk peddlers. Nearest shopping was Walmart and Lucky but I always opted to drive further. Now that Lucky is a FoodMax. When I drove down Monterey a few months back, there was a encampment along the highway on the west end of Silverleaf (I took a photo), and a few weeks later there was an even bigger one beside the ramp between Monterey and Bernal on the east end of Silver Leaf. Blight. I think there are a lot of houses in that area filled with people who over-bought and 'own' but lack 'pride in owning.' Also, there is a mobile home park on the west end and then further east is a pretty yuk area on Monterey.

9. berational Follow Befriend 5 comments

   9   10:14pm Thu 12 Apr 2012   Share   Quote   Permalink   Like   Dislike   berational says When I drove down Monterey a few months back, there was a encampment along the highway on the west end of Silverleaf (I took a photo) I don't think I selected Upload....

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

    10   1:31am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike   fairly priced home... if you consider 1998 prices plus inflation 30-35% near by home at 95 SouthSea Ct which is similar on the block was sold for $280K back in 1998 so factor in inflation from 1998 to 2010 gets you to $372K.. if you accept the upgrades you see as value added, then your fine. But always negotiate, knowledge is king so they will have their profit and you can squeeze them by 20-30K downwards. http://www.zillow.com/homedetails/95-Southsea-Ct-San-Jose-CA-95138/19810233_zpid/ I see that 76 SouthSea sold for $265K back in 1998. http://www.zillow.com/homedetails/76-Southsea-Ct-San-Jose-CA-95138/19810243_zpid/ 75 SouthSea sold for $247K in 1997.. 67 SouthSea sold for $339K in 1999.. already in a bubble.

11. Andy S Follow Befriend 6 threads 17 comments Seattle, WA

    11   9:54am Fri 13 Apr 2012   Share   Quote   Permalink   Like   Dislike   If I had to put an accurate price on this property it would be $307K A similar property sold for $340 in Feb this year: http://www.zillow.com/homedetails/65-Southpine-Ct-San-Jose-CA-95138/19810304_zpid/ Same s/ft lot size, Its a staged home with furniture that will not stay, the bathroom and kitchen upgrades are not particulary outstanding, I would estimate that less than $15k was spent upgrades, as it still has the standard 2-3" baseboards. That said, I am sure someone will fork out close to the asking price for this property, as it is turnkey ready, but still $50k overpriced..!!