A few from Hollister, which is about 45 miles south of San Jose. It's a bedroom community that built too much, too fast in the '90s and early '00s. I lived there for almost ten years. The market has now tanked to around 1998/1999 levels.  Some examples of the tanking market there...
Cookie-cutter development, a la K&B (not sure if K&B built it, though) Small house, small lot, which is insane since Hollister is out in the boonies where land is plentiful. There is no excuse for a 6,000 sq ft lot in Hollister.
Last sold in 2005 for $510K, now on the market for $255K.
The Dunnville area is north county, up near highway 152. All homes are on an acre. The homes are nice and big, and due to a sweet water deal with the county, they get almost unlimited water, PLUS, since the water bill is paid via their property taxes, they can deduct it. However, north county is isolated. It's a ten to fifteen minute drive to either Hollister city limits or Gilroy.
This house is on the market for $599K. They already dropped the price twice. By my estimates, this development has probably dropped down to 2000 levels if this house sells for this price. But I don't think it will. I'm thinking more like $350-400K, which would definitely drop it to around 1997 levels.
Tevis Trail is snootyville, although "snooty" and "Hollister" don't have any reason to go together. But that's the best way to describe it. Five and Ten acre parcels with varying quality of homes. This house is about five acres. Five acres in Hollister during the bubble could mean well over a million bucks, but now you can get five acres for in the mid-300's.
This house sold for over a MILLION back in 2007. Late last year it went on the market for $800K, and it's been sitting. They've dropped it over $200K down to $590K, yet still nobody cares. Even if the house was in top condition, which this one apparently isn't, I'm thinking mid $400's, but this one could go even lower depending on what's wrong with it.
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A few from Hollister, which is about 45 miles south of San Jose. It's a bedroom community that built too much, too fast in the '90s and early '00s. I lived there for almost ten years. The market has now tanked to around 1998/1999 levels.  Some examples of the tanking market there...
620 Randys Circle...
http://www.redfin.com/CA/Hollister/620-Randys-Cir-95023/home/14970628
This is in a faux-upscale area of Hollister. Gated community, two golf courses, south end of town.
Last sold in 2007 for $705K, now on the market for $312K.
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850 Talbot Drive...
http://www.redfin.com/CA/Hollister/850-Talbot-Dr-95023/home/14968070
Cookie-cutter development, a la K&B (not sure if K&B built it, though) Small house, small lot, which is insane since Hollister is out in the boonies where land is plentiful. There is no excuse for a 6,000 sq ft lot in Hollister.
Last sold in 2005 for $510K, now on the market for $255K.
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6450 Dunnville Way...
http://www.redfin.com/CA/Hollister/6450-Dunnville-Way-95023/home/14966642
The Dunnville area is north county, up near highway 152. All homes are on an acre. The homes are nice and big, and due to a sweet water deal with the county, they get almost unlimited water, PLUS, since the water bill is paid via their property taxes, they can deduct it. However, north county is isolated. It's a ten to fifteen minute drive to either Hollister city limits or Gilroy.
This house is on the market for $599K. They already dropped the price twice. By my estimates, this development has probably dropped down to 2000 levels if this house sells for this price. But I don't think it will. I'm thinking more like $350-400K, which would definitely drop it to around 1997 levels.
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400 Tevis Trail...
http://www.redfin.com/CA/Hollister/400-Tevis-Trl-95023/home/14976434
Tevis Trail is snootyville, although "snooty" and "Hollister" don't have any reason to go together. But that's the best way to describe it. Five and Ten acre parcels with varying quality of homes. This house is about five acres. Five acres in Hollister during the bubble could mean well over a million bucks, but now you can get five acres for in the mid-300's.
This house sold for over a MILLION back in 2007. Late last year it went on the market for $800K, and it's been sitting. They've dropped it over $200K down to $590K, yet still nobody cares. Even if the house was in top condition, which this one apparently isn't, I'm thinking mid $400's, but this one could go even lower depending on what's wrong with it.