Friday, May 25, 2007

Run, don't walk! Price reduced by a buck.

Update: Now we're talking. The price has actually been dropped a reasonable amount. Price is now 565K...but stay tuned for 564,999 if it doesn't move soon.

Yes, this is the second one of these that I've seen and I just can't believe people do this. What is the point? Is it the ever enticing "999" that you think will surely bring in those buyers who have been holding out? The sad thing is, this particular home looks pretty nice and might be worth visiting. I'm not keen on its proximity to Hwy 12, but I haven't actually driven the street for a first hand impression. It has 4 bedrooms, 3 baths, is just over 2000 square feet and has been updated with lots of fresh goodies.

The home has been on the market for 67 days and I would suggest that this agent come up with a realistic price reduction strategy and not pull this kind of ridiculous stunt. The current cost per square foot is only $289, which is good, so drop the asking price by at least 3-5K if you're trying to generate interest based on a reduction. Then again, maybe it's the homeowner and they've seen too many $9.99 ginsu knives infomercials. Sheesh...

Wednesday, May 23, 2007

The man in the mirror...

UPDATE 2: The price on this house has been reduced to 463K. It's now $405 a square foot, which is still too high in my opinion.

: The price on this house was just reduced to 499K. That's still $436 a square foot, so I wouldn't call it a bargain. My guess is that this one will not sell until it's around 450K.

Feeling a bit cranky today so I'm going to vent my frustration on this listing :)

"Beautifully remodeled W. Petaluma Home" - Let me start by saying that this home is technically in West Petaluma due to its proximity to 101, but it resides in that sort of in between area that's most people do not associate with the quaint, we're-near-the-new-theatre-district, West side of town. It's just off of Payran near the river, where all that construction is going on. Granted, Payran will be "comp repaved by end of
year", but until then, cone zone baby. Personally, I used to live in this area and didn't really like it. To each their own.

"Price reduced for quick sale!" - It shows as being on Redfin for a day, so I assume it was listed, pulled off the market, the price was lowered and then relisted. Anywho, they are currently asking 535K for this 1,144 square foot home that was built back in 1960. They mention a "beautiful remodel", but that still comes to $468 a square foot. That's a bit steep for this location in my opinion and the house doesn't really look that nice to me. Maybe I "must see to appreciate", per the
listing, but I'm not motivated at this price.

And finally, a bit of advice to the man in the bathroom mirror -- if you step to the side and just kind of point the camera in at an angle, we wouldn't have to witness your summer duds and be blinded by the paparazzi flash of your camera.

Monday, May 14, 2007

100K Price Drop - Includes Rented 1Bed Apartment

UPDATE: This home is no longer on the market...

As the listing for this home states, "Seller is serious!". This is a southwest Santa Rosa home that was built in 2004 and is now listed for 599K. Based on the price per square foot ($274), this looks like the best deal in this particular neighborhood. It's only been on the market for 46 days, so it appears something has come up to warrant a quick price reduction to get out. If you're looking in this area, check this one out. The price seems good and you get some rental income as well, which could be good or bad...Mr. or Ms. Landlord.

Tuesday, May 8, 2007

Home in a "fluffing good area"

UPDATE: This home is now listed for $499,900 or $264 a square foot. Unfortunately, the agent hasn't bothered to look at their description and make it 10K less laughable.

Punctuation is very important, but it still doesn't save this listing from being ridiculous. Here's the unedited description, including both of the periods at the end:

Tremendous opportunity for this fixer sold as is needs interior paint, carpet, fluffing good area well designed and large lot. price is king here absolutely will not last at this price. .

And what exactly is a "fluffing good area"?

A) A misspelling of an inappropriate word that proves this listing was posted in a drunken stupor after a
broker party or liquid lunch.

B) Lacking the ever critical comma in a very strategic location.

C) Even if lacking the aforementioned comma, who in the world refers to updating or fixing up a house as "fluffing"? Fluffing is reserved for pillows, silly little dogs with expensive haircuts and the new age groupies who claim your aura requires it on bad days.

Mr. Agent, I would also suggest that the next time you take a picture of the kitchen and it's wonderfully tangerine-dream colored formica, you may want to remove the slew of business cards scattered on it from previous agent visits. The cards give it that "this home is a dog that no one wants" look, which is best avoided.

OK, enough of these foibles and follies (...dropping silly sounding words that begin with "f" into my posting to get into the spirit).

Based on what I can gather, this home had an offer at 535K and it fell out. It's now listed at 510K, which puts it at $270.00 a square foot. Not bad, especially for a 4 bedroom, 2 bath home with nearly 1900 square feet. The lot is also nice sized at 7,318 and there appears to be some grass mixed in with the tall weeds in the backyard picture. Grab a jug of Roundup and a good mower and you should be ready to play ball.

At this price and specs, this could be a good bargain, and hopefully you will have enough cash left over to give it a proper fluffing.

Friday, April 20, 2007

Prices dropping faster than subprime lenders.

Trying to keep up with the price adjustments on some of the previously covered homes is becoming a job in itself. I have two of them today, so I'm going to hit them both in one post.

The first home is 4517 Earhart Ave. in Santa Rosa. The neighbors house that was listed at a higher price of 469K (vs. 465K for this one) appears to have an offer. Who knows if it will stick, but this seller must be wondering what's up. I think the 469K house was in better shape based on the pictures, so that may be the determining factor. To the point, the price for this home has been dropped to 455K, which is right there where I suggested you make an offer (blatant self promotion...sorry). In fact I suggested you offer 445-455K and feel pretty confident you could get away with 440-445K at this point. If you're the homeowner, you may want to stage this house and take some new pictures. I'm making a broad assumption here, but the current pictures make it look like it's a rental, which does not help your position, in my opinion.

The other place is the townhome at 1406 Marylyn Circle in Petaluma. I thought it was already a good deal at $434K, but the price was just reduced to 419K (265.00 per sq. ft.). At Nearly 1600 square feet with 3 bedrooms, 2.5 baths and a 2 car garage, this seems like a good deal to me. I've driven this neighborhood and it seems fine. The HOA is a bit high in my opinion at 255.00 per month, but at least you get a pool and tennis courts for you money. There is another townhome right across the street for sale as well, but they are asking 459K (UPDATE: Price has been reduced to 425K). If there is something wrong with this one (which is not mentioned in the listing),the price difference of 40K could buy you some nice improvements.

Wednesday, April 18, 2007

Price reduced by One Million Dollars

UPDATE: Price has been reduced to 3,350,000

Now THIS is what I call an aggressive price reduction! It's still listed at a lofty $3,599,000, but lopping a cool million off the top
sure sweetens the offer. If this San Anselmo home had only been on the market a day or so, I would have thought it was a typo by the agent, but it's been listed for over 23 days. What would inspire someone to drop the price this dramatically?

Eyebrow raising adjustment aside, take a look at the views and interior shots for this place. Really amazing! The house has 5 bedrooms, 4 baths and is listed at 4,342 square feet. The lot is ginormous, clocking in at 175,939 square feet, which is right around 4 acres if my math is correct. That's a heap of Marin County dirt. If this home is in your price range, it's probably worth a look...if for no other reason than to solve the million dollar mystery.

The little house that couldn't sell.

UPDATE: As far as I can tell, this house did not sell and was pulled from the market.

In the ongoing saga of the little home that
just won't sell, they have lowered the price once again. They are now down to 499K, which is 46K off the original 545K. I feel a bit sorry for these folks at this point, but frankly, I think the home was really overpriced when it listed. Stop by, take a look, and offer them 475K-485K -- I bet you can snag this place.