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Diamond Bar-Walnut's Priciest Homes: 1848 Derringer Lane

Every week, we feature one of the most expensive homes on the real estate market in Diamond Bar or Walnut.

At $3.498 million, this seven-bedroom home is one of the pricies homes on the market in Diamond Bar this week.

The 7,800-square-foot house features eight bathrooms, according to the listing. Other amenities include a pool, a gazebo, and scenic views of the San Gabriel Valley.

The property has been on the market for 21 days as of Sunday, according to the listing.

For more information and pictures on the home, view the listing on AOL Real Estate.  

This is article is part of an ongoing series profiling some of the most expensive properties in Diamond Bar and Walnut as determined by AOL Real Estate. Want to be notified every time we post a new article in this series? Click the "Keep me posted" button in the box below.

Vito Spago February 04, 2013 at 05:50 PM
OMG. Another $1.8M house going for twice what it is worth. Greed of these sellers is amazing. Realtors who like to waste their time. If you notice the RE listing it is the houses less that $300k that are selling like hot cakes. Not the McMansions. How do $30k property taxes sound. http://www.zillow.com/homedetails/1848-Derringer-Ln-Diamond-Bar-CA-91765/21672365_zpid/
Neighbor February 05, 2013 at 09:58 PM
Are you a real estate agent or broker, Vito? If not, how do you know that the $1.8 Million house is worth half that? BTW, Zillow is notorious for being WAY off the mark on property values.
Vito Spago February 05, 2013 at 10:06 PM
Neighbor. No I am saying that that house is worth $1.8M and they are trying to sell it for $3.5M. I am even going higher than the Zillow quote. Realtors very seldom disclose what houses sell for. I mean you can ask any amount you want. What you ask means nothing. Let's see if AOL RE lets us know what this house finally sells for and how much down from this asking price it will be.
Diana February 05, 2013 at 10:19 PM
As a real estate appraiser I can tell you that this home in this city is worth the listing price or close to it. There is no way a home can be listed at a price and then receive an offer at that price and be sold at it if its not worth the value. All home sales require an appraisal and if that appraisal comes in considerable lower the bank will not fund the loan at the higher asking price. There are so many checks and balances in effect today that do not allow an owner or realtor to just throw a house on the market at any price they wish. Market research of closed comparable homes and current homes for sales is done with much diligence before a home goes on the listing service. So I would have to say your assessment is incorrect as this is not about greed at all but a result of the current market and increasing home values, especially in Diamond Bar.
Neighbor February 05, 2013 at 11:25 PM
Vito, apparently you are not aware that ALL real estate sale prices are listed in the tax records of the county in which the properties are located and are available as public information. Further, it is not a function of Realtors(R) to disclose sale prices. That is a government function.
Vito Spago February 06, 2013 at 01:02 AM
Tax roles show appraised value which is typically way less than what the property is actually worth. Under prop 13, your taxes are approx 1% of the purchase price and can only increase at 2% per year. So the appraised value lags behind the actual value. Appraised value is posted on Zillow so you do not need to access the tax assessor files. Actual value of a house can only be estimated from recent comparable sales in the neighborhood and educated guesses. However with this house, it is an educated wish.
Neighbor February 11, 2013 at 09:36 PM
You are totally wrong, Vito. Tax records do show sale price. There is no requirement or mechanism for showing appraised value. That is a private matter between the buyer and his/her source of funds. Neither does Zillow have a mechanism to show appraised value.
Vito Spago August 11, 2013 at 05:36 AM
August and this overpriced turkey is still languishing on the market. Realtor and seller must be retarded. I love to come back to these articles on overpriced houses for sale and watch them continue to sit as the seller hopes a stupid buyer will come by. No one is as stupid as the seller, sorry.

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