Sunday, August 27, 2006

Reduced Real Estate - 2

Not long ago I wrote about Reduced Real Estate and on Friday I noticed on Craigslist the following post :

$358000 Listed at $40,000 below last closed sale! (San Jose - downtown)

nearly new (10 mo. old) 1br/1ba condo w/balcony has it all! granite counters, maple cabinets, central a/c, full-size washer/dryer, refrigerator. located in the beautiful sonora complex, minutes from downtown, restaurants, and freeways. enjoy the peaceful pool & spa, barbeque area and state-of-the-art gym. last closed sale for the exact same unit (2 doors down) was at $398,000! check the comps... go to mlslistings.com and enter mls #645093. don't miss this great opportunity to own your own home!

Unfortunately the listings mentioned above is not currently active on mlslistings.com and buyer cannot check the price of sold condo unit, but I decided to take a look to the recent real estate transaction in Sonora condominiums published in Mercury News. One of sale records shows that exact the same unit was sold last month at 1550 Technology Drive for $315,000. Bingo!

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