This property at 858 DORCHESTER ST in Thousand Oaks just listed a couple of days ago. Here is the Redfin listing. The house is listed for $489,000 on Zip Realty. There are no photos online yet, but it’s a 3 bed, 1.5 bath, 1,016 square footer. The Zillow sales history says this was purchased on 4/4/2006 for $550,000. That’s a $61,000 loss in a little over a year. And I bet it sells for less than $489,000.
If anybody knows Zillow well, maybe you can help me with something. Prior to the 4/4/2006 sale there is a 2/1/2002 sale listed for just $74,000. What’s that all about? Why so low? Is it an error? Was the house damaged? Every once in awhile I run across listings like this. The only other sale history on this is 1/13/2000 for $220,000.
Judging by the size of the house and the neighborhood, that $220,000 figure sounds about right. If we calculated a 3% appreciation per year since 2000, that puts the current value of the house around $270,000. That’s a $1,500/month mortgage (assuming 6.5% interest and 10% down). I think that sounds about right.
July 29, 2007 at 5:11 pm
1000 sq ft for 489k? No way!
The property description trys to play-up the size of the lot, but if I look at the overhead image on ZipRealty, it looks like most of the backyard is on a hill and unusable.
July 30, 2007 at 8:03 am
Yeah, but it’s a PRIVATE hill! hehe
April 28, 2008 at 12:24 pm
The price has dropped to $399,000. Still $150k+ overpriced.