1025 Tournament Dr, Hillsborough, CA 94010 Hide Map Show Map
By Patrick on Wed, Nov 4th, 2009 at 2:54 pm | 4598 views | rss | email this | add commentGoogle this address
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6 comments on “1025 Tournament Dr, Hillsborough, CA 94010”
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Joined: April 3rd, 2005
Posts: 365
Comments: 824
Wants 3/2 for $500K in 94025
Posted for reader D.
This Hillsborough home was bought for $4.1M at the peak of the market in October 2007. It’s large but not a mansion — 5br and 4,620 ft2:
http://www.redfin.com/CA/Hillsborough/1025-Tournament-Dr-94010/home/732595
It’s now bank-owned and was listed at $1.98M in August. In September the price was dropped to $1.88M. It finally pending without release, probably for around $1.7-$1.8M.
So that’s roughly a 55 percent drop in just two years.
-D
Joined: December 4th, 2008
Posts: 16
Comments: 81
You either need to be able to pay cash, or make about $600,000 per year to legitimately afford that. The buyer pool with those resources isn’t really that big these days.
Joined: August 27th, 2009
Posts: 0
Comments: 38
Patrick, Boy, we taxpayers took it in the seat on this one -eh?
“The buyer pool with those resources isn’t really that big these days.” BTW: I disagree with you. There are plenty of wealthy people around that would snap it up if it were a great piece of property. It’s been on the redfin for 79+ days. Must NOT be that bitchin. Something I suspectis real wrong. There are tract 4/3 .25 acre tract houses in my old neighborhood selling for that and more 94024 - Los Altos. Some I know of do not even get listed and they are sold for full asking - seriously.
Joined: June 9th, 2009
Posts: 1
Comments: 3
Here’s another one:
http://www.redfin.com/CA/Los-Altos/12590-Miraloma-Way-94024/home/1662816
2007 price: $6.3m
2009 price: $3.0m
Joined: August 26th, 2007
Posts: 11
Comments: 126
It is owned by JP MORGAN CHASE BANK. Net assessed tax assessor’s value is $2,800,000. Sold at a trustee’s sale $3,583,755.68 in 2008, that may be what was owed.
Joined: April 3rd, 2005
Posts: 365
Comments: 824
Wants 3/2 for $500K in 94025
I copied the last two comments over to the entry for 12590 Miraloma Way, Los Altos:
http://patrick.net/property/honesty.php?p=18430
Note that it’s now super easy to create a new Property Honesty posting. Just click on the map and it automatically gets created! Or, do a search in the box above the map. Same thing.