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Just around the corner... with sale price history of similar home.
1571 S Wolfe Rd Sunnyvale CA 94087
3 beds, 2.0 baths, 1,456 sq ft
http://www.redfin.com/CA/Sunnyvale/1571-S-Wolfe-Rd-94087/home/1455462
Sale History
11/26/2003: $550,000
11/20/1997: $288,000
We got past reasonable prices after 1998 as prices doubled by 2000.
Certainly $800K today is way way way out there. And I agree, buy this and go into
foreclosure.
1997 prices adjusted for inflation... comes to $384K or so..
so, Camping number comes close near $360K
What cost $288 in 1997 would cost $384.84 in 2008.
http://www.westegg.com/inflation/infl.cgi
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Listed for sale: $825k. Also listed for rent: $1650. Not too much disparity there... I guess the only problem with renting from them is that in a few months you'll probably have to move when they are foreclosed on. (just my guess)