The text of the article says the price was $770K, but the photo says the price was $1,600,000. Which is correct? I'd actually be surprised if a home in Old Palo Alto was selling for under a million unless it was a real dump.

Hello, is anybody there? The houses do not have to be a real dump to sell at cheaper prices, people are thinking twice before moving their kids to Palo Alto schools. The school district is getting a bad reputation. Buyers are no longer making higher offers to get the house before someone else gets it.

The illustration is wrong; it should be 823 Oregon. The sale prices are accurate. Google "823 Oregon" and you can see for yourself.

Yeah, it's a dump with weird add-ons--i.e. two one-car garages; one with a banged-up corrugated metal door, weird little yards, a falling-apart sun porch. It was on the market before and then went into foreclosure.

So, basically a tear-down in a flood zone. Whoever bought it, bought it for the land. I do think the tear-down market has dropped.

Who actually knows what is going on behind any property sale?
Look at 1404 Bryant,allegedly sold for 300K in December 2002.

Web Link

Bargain, tax scam, or something benign??

It was a complete tear-down. The previous owner did not get the permits for the rebuild and got stalled on the project. The house has looked like it does in the Google street map for 2 years or more - just studs and plywood.

FYI OhlonePar - this area is in Flood Zone X, which is what all of Palo Alto is except for the Specail Flood Hazard Areas. You can look it up on the City's website by specific address. I don't think the buyer should be worried about flooding. I'm certainly not.