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Redfin Real Estate Forums :
Bay Area :
How negotiable are these new homes in Los Gatos?
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Re: How negotiable are these new homes in Los Gatos?
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JanelleS
Redfin Staff
Posts: 1262
Registered: 07-05-2007
Message 3 of 6
Viewed 3,497 times
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Kenji4861,
I think you are right on the money.
Although there is more wiggle room these days with new construction; as you surmised and Glenn reiterated, price is generally not where you will find it.
Reason being: sales prices become part of the public tax record. The next potential buyer has access to anything and everything on the internet these days (thanks, Redfin!) and so why would they purchase a home is the same community for $1.9M when a previous buyer got it for $1.5M?
However, we all know the housing market is not what it used to be, and there very well may be magic in the air.
And, we all know that all real estate agents are ethical. 
Janelle Saylor | Real Estate Operations
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08-04-2008 01:01 PM
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Re: How negotiable are these new homes in Los Gatos?
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Hibryd
Regular Contributor
Posts: 264
Registered: 04-15-2008
Message 4 of 6
Viewed 3,411 times
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I suspect the Realtor was just trying to get your attention. From what I can tell, the more expensive areas in Silicon Valley aren't taking a price hit because, while there may be fewer buyers, there's also fewer sellers. Neighborhoods in Los Altos, Saratoga, and Los Gatos never had a sub-prime problem so they're not suffering from excess inventory now.
Realtor David Blockhus actually has an interesting blog at www.siliconvalleyrealestateinfo.com. He's mostly a buyer's agent working with people buying $1-$2 million homes, and he's reported that demand is strong enough that, much to his dismay, some agents are getting away with bringing back "pocket listings" in upscale neighborhoods, where they don't list the home on the MLS and instead rely on someone in their own office to bring them a buyer for a super easy sale.
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08-05-2008 01:09 PM
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Re: How negotiable are these new homes in Los Gatos?
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JanelleS
Redfin Staff
Posts: 1262
Registered: 07-05-2007
Message 5 of 6
Viewed 3,387 times
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I suspect the agent wanted your business, not your attention.
Janelle Saylor | Real Estate Operations
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08-05-2008 04:44 PM
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