1671 Bush Street
It wasn’t the quick $130,000 price reduction (after less than a week on the market), or even the Los Gatos broker’s pre-reduction note (“fixup cost $250,000.00 Possible resale value would be $1,700,000.00”) which caught our attention.
No, it was simply the vintage Wedgewood stove which conjured up warm thoughts of a traditional Thanksgiving dinner. And of which we can’t stop thinking (and counting down).
UPDATE: And yes, since publishing this morning (and after two weeks on the market) the broker’s statements about “fixup cost” and “possible resale value” have been removed from the online property description.
∙ Listing: 1671 Bush Street (4/2) – $995,000 [MLS] [Alain Pinel]

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Comments from “Plugged-In” Readers

  1. Posted by gh

    Gotta love the broker math!! Especially from someone in Los Gatos. I’m going to run out and snatch a subprime loan to cash in on that upside…yeah.

  2. Posted by scorpio

    writing from Kansas City. this place looks like a bargain, compared to places i’m seeing on sites like Pacific Union, Hill, etc. what’s the problem?

  3. Posted by Michael L.

    If that isn’t a prime RESPA violation I don’t know what is….
    “fixup cost $250,000.00 Possible resale value would be $1,700,000.00”

  4. Posted by Michael L.

    Must be a Peid A Tiere

  5. Posted by kathleen

    Hello Kansas, This is a very busy street.

  6. Posted by Jimmy (Bitter Renter)

    I love the decor on this place! You could turn it into a gold-rush era themed whorehouse. Imagine the possibilities!

  7. Posted by scorpio

    thnx. busy is good compared to KC. somebody’s going to make a nice place out of it. i imagine it’s hard to find 15 ft ceilings, even in SF.

  8. Posted by bushstreet

    Not just one busy street, but on the smack dab in the middle of two of the busiest streets in the city, Bush and Gough streets. Though, personally, I prefer living on a busy street, it is the city after all, people who like quiet have the burbs to live in.

  9. Posted by fluj

    Maybe the upside is having a nice place to live in a great city? Maybe the mortgage structure makes sense vis a vis money down, deductibles, etc. Why does the upside have to be 10 percent appreciation? All you armchair economists miss the boat on that, every time.

  10. Posted by Anna

    “Maybe the upside is having a nice place to live in a great city? Maybe the mortgage structure makes sense vis a vis money down, deductibles, etc. Why does the upside have to be 10 percent appreciation? All you armchair economists miss the boat on that, every time.”
    I do have a great place in a great city, I just chose to rent it, invest in assets that do appreciate at 8-10% and let my landlord spend his free time dealing with maintenance while I take advantage of living in the city and travel. I don’t think I’m missing a thing.

  11. Posted by fluj

    There’s nothing wrong with that. I don’t begrudge renters. What would any city be without renters ? It’s just that buying makes sense to some people, and 10 percent annual appreciation expectation is only a new phenomenon.

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