This Mountain View Home's Sale Requests Showcases Value of Silicon Valley Property
Recently, an infamous house listing in Mountain View highlighted the increasing demand of owning Silicon Valley property near neighborhoods where companies such as Google, Apple, and LinkedIn are expanding.
Check out what the home looks like here.
When the 1920-built house at 623 Palo Alto Ave. came onto the market, the location couldn’t have been more ideal for an investor who wants property close to Google’s ever-expanding campus. Not much to look at, the 976 square-foot home, located on a 7,500-square-foot lot, listed for a whopping $1.6 million.
Before homebuyers were able to take the plunge, the listing noted a few specific demands required by the current owner:
- Seven years of rent-free living for the current owner, post-sale.
- Repairs made before escrow is completed.
- No open house available, only external viewing (no inspections).
According to NBC Bay Area, the requests may be odd but by no means a deal-breaker to those looking to own in Mountain View. It just goes to show how much power sellers have in the current market.
And just in case you thought the offer seemed unreasonable, the house is already pending after nine days on the market.
Just last month a Sunnyvale home near the new Apple campus sold for $800,000 over the asking price, and a Palo Alto home sold for $1 million over the asking price.
With the demand of housing continually increasing near large tech company campuses, competition — and prices — just keep rising.