Oakridge Estates - Newbury Park

Where sunset arrives a bit early

April 2006 Newsletter Puzzle Solution

Question:

How many Oakridge homes does Zillow.com value at over $1 million?

(a) 1, (b) 3, (c) 5, (d) 10?

Where are these homes?


Answer:

Note:

The statements below were true on March 3, 2006, when the newsletter was published. Prices dropped almost immediately right afterwards. This appeared to be the market peak, at least the way Zillow saw it. Three months later, Zillow valued Oakridge homes up to $973,269, about a 4% drop from the peak. On December 5, 2006, the home with the highest Zillow-rated value had dropped further, to $947,885.

Clearly, the market is still digesting the huge home appreciation numbers of recent years. It's likely our home values will once again surpass $1 million at some point, great for us but challenging for our kids should they go home-hunting in the area. Given that as of December 5, 2006, no Oakridge home has sold for more than $860,000, Zillow's numbers must be viewed skeptically.

(b) 3—photos below are from the Zillow Web site.

  1. 3924 Calle Valle Vista: $1,016,761
  2. 803 Cayo Grande Court: $1,014,323
  3. 3870 Lesser Drive: $1,011,184

3924 Calle Valle Vista: $1,016,761

803 Cayo Grande Court: $1,014,323

3870 Lesser Drive: $1,011,184