This listing just got posted ...

http://www.redfin.com/CA/Emerald-Hills/423-Hillway-Dr-94062/home/1462463

2-1 in Redwood City.  Asking $949k.  Last sale was $840k in 2005.  Sale before that was in 2004 for $600k.  The listing says nothing about any meaningful expansion or upgrades done in the intervening years.

Average listing in RC is $100 less per sq. foot.  Average sale for past 6 mos. $120 less per sq. foot.

Even for that immediate neighborhood, sales are at $100 less per sq. foot over the past year.  Not even the notoriously optimistic Zillow thinks its worth more than $888k on the high side.

So the only basis for listing this house at such a ridiculous price must be blind faith that there are still some idiots out there.

Of course, I'm sure this all part of the "marketing plan" by the broker.  It's only a matter of time before the listing is updated for the "HUGE $50k PRICE REDUCTION!" that still makes it wildly overpriced. 

The sad part is, I could write something similar about 9 out of 10 listings that go up in any given week. 

Sooooo frustrating.