On my last post, I mentioned about a house in the Lynbrook district of West San Jose that received 32 offers. I'm sure those who read it were just as curious as I was to discover how much over the asking price the winning offer provided. The answer is.......$112,000! The winning offer was $1,000,000, with no contingencies and 7 days close. Remember, the asking price was $888,000. The property was on Olmo.
I knew the prices as of the writing of my last post, but the deal had not closed yet, so I could not divulge the details. Do you still think the newspapers are correct in their assessment of the market place?
Steve Mun, Silicon Valley Realtor
www.stevemun.com
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