California Condo Listed for a Dollar

Written by: editor   Tue, October 23, 2012 Beyond Today’s News

Condo values in pricey Mountain View, CA could take a dip Thursday when Realtor Ken DeLeon lists a property for one dollar to initiate a bidding war for the property, with a deadline of Thursday, November 8th.

Listing for a dollar “truly lets the market decide the value of the home, a new take on the standard listing approach in the competitive Silicon Valley real estate market,” states a news release DeLeon issued to announce his plans. Asking prices for condos currently listed on in Mountain View, home to Google, LinkedIn and other high tech companies, range from $55,000 to $2.795 million.

“There is no loan on this property, so whatever it goes for that day will be the sale price, even if it’s $1,” DeLeon stated.

DeLeon, named the top real estate agent in the nation by REAL Trends last summer, says he sold $275 million worth of homes last year. According to his Web site, he attributes his success nation to two things: the laser-like focus that follows two near-death experiences-being run down by an under-the-influence driver only to be recently diagnosed with cancer-as well as his innovative approach to sales. He is currently working on a memoir titled, “Why Do Bad Things Happen to Sexy People?”

Ken DeLeon, owner of DeLeon Realty, Inc., announced today that he will list a condo in Mountain View, CA, home of Google, LinkedIn and other tech titans for only $1 on Thursday, October 25 th.. DeLeon will have a “silent auction” for the property.

“I do not fear death, I fear living a mediocre life,” DeLeon states on his site.


2 Comments For This Post

  1. The Highland Group Says:

    Well, most likely the appraiser and bank will still determine the value of the home unless there is a cash buyer. It will be interesting to see how it ends.

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