Think housing prices are skyrocketing in Las Vegas? Here’s a story about a Bay area home, a typical four-bedroom, two-bath home under 2,000 square feet, sold for $782,000.
That’s $782,000 over asking price.
The home, with a small front and back yard but a large side yard was listed for $1,688,000. The buyers, who work in tech, offered and paid 2,470,000.
The house is about a mile from Apple new spaceship campus, and most of the homes in this highly priced area are bought by tech workers, according to a story in the San Jose Mercury News.
And the listing agent said that price wasn’t even an outlier for a Bay area home. They got 20-some bids on the place.
Dave Clark, the listing agent, described the property as “nothing special, just a typical Sunnyvale house in a nice Sunnyvale neighborhood.”
The article noted that Realtors in hot markets often list houses under market to attract bidders, who will drive the price way above asking. These buyers had put in multiple offers before getting this property.
In Las Vegas, the median priced home goes for about $240,000. You think people who sell properties like these could improve their lot by moving to Nevada (where there also is no state income tax, compared to California’s, which tops out at above 13 percent)?
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