Mountain View Home sells for $ 1 million above asking price – NBC Bay Area
The Bay Area real estate market is once again making headlines.
A Mountain View home sold in just six days for $ 1 million more than its asking price.
âIt’s probably a little extreme, but it’s not really unusual,â said Jeff Lamont, real estate broker at Coldwell Banker. “I have properties that I have dealt with here in San Mateo County, 3, 4, 500,000, 800,000 more.”
The 4,300 square foot home in Mountain View‘s Waverly Park neighborhood was listed at $ 4.5 million. It comprises a main house and a guest house with a total of seven bedrooms in between.
Lamont, who was not the agent that sold the house, said it was an example of the Bay Area‘s hyper-competitive real estate market.
Jack Cormode, a longtime resident of the same Mountain View neighborhood, said this was great news for home sellers.
âWe are back to the point where prices are going up,â Cormode said. “But this price far above the asking price is, yes, surprising is a word you can think of.”
According to the California Association of Realtors, home sales in the Bay Area are up 101% from a year ago, with a median price of nearly $ 1.3 million.
Many of those who qualify for these loans are beaten by cash buyers.
Experts recommend finding an experienced broker and, most importantly, being patient.
âI tell my clients, ‘Don’t fall in love with any house,’â Lamont said. “You can fall like that, but if you don’t understand you have to be able to push yourself away and say, ‘Damn’ and move on to the next one.”