Saturday, April 08, 2006

Reduced Real Estate

Last week there were 322 real estate listings listed for sale by real estate agents using the word reduced on San Francisco Bay Area CraigsList.

Does it mean anything? Every day I walk by the line of small furniture stores I see the ubiquitous chant "reduced prices", "blowout sale" and etc, during summer season they scream about "hot summer sale", the winter goes by "winter sale our only sale" or how about "under new management" every few months. The hordes who have taken up the "Reduced" slogan actually never change the furniture prices.

Let's take a look for some deals on reduced housing listings for example the rare opportunity for an investor or contractor real estate agent in north San Jose (Berryessa) condo with all the amenities!

$359950 - Reduced Price! Berryessa Condo with All the Amenities (San Jose North)

This 2 bed/ 1 bath 903 sq ft condo is in a beautiful neighborhood worth amenities such as pool, clubhouse, tennis courts and more. This unit comes with a shared two car garage. HOA fees include water, garbage, roof, exterior and landscaping. The unit sits in quit spot in development.

The address of this property is 917 Gilchrist Walkway, San Jose, CA and it easy very easy to find the sale history if this decent condo: 08/31/2005: $334,000; 12/06/2001: $325,500.

[COUGH]

After holding condo for just for eight months the real estate agents asked almost five percent more and they called it "Reduced price"? May be the condo location is perfect. The work is close; condo is not far from famous Golden Triangle (Cisco, Broadcom, BEA and etc) of Silicon Valley. The food is close; San Jose Flea Market is just a few steps away. But why the price is reduced?

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