I think I also know the home you are talking about, but I don't want to guess. Please call or email me the address so I can do the exact research and be certain of my answer. 303.919.0309 cell or firstname.lastname@example.org. Thank you.
I just ran some quick numbers and the average price that homes have sold for in the neighborhood over the past couple of years is $183 per sq. ft. Just running some over-simplified numbers, puts the value closer to $440k.
Price per sq. ft. is a ROUGH indication and is in no way an exact measurement. For example, properties with only 2 car garages are included in the figures so, this property would demand a bit more. Same goes for home backing, or siding to Potomac (the main street connecting to Arapahoe Rd), granite counters and other upgrades in the house, etc.
My best advice would be to have your agent go through the home, do a current market analysis for YOU, and then see if the seller would sell at a price you are comfortable with.
If you are currently working with an agent, then good luck with the home. If not, my team is very experienced and would love the opportunity to assist you with your purchase. We can provide all the statistical data, and help you understand the short and long term ramifications of buying in a particular location at a particular price.
Please let me know if you have other questions.
Lot size is 10,000sf and facing east. There is an old house with huge lot facing each other, but it is remote. The size of the house is 2,400sf with 3 car garage. Built in 2005. Maybe this property is the same property as Bob was talking about below...It is currently listed @469k, but do you think it is worth that much?
I have sold many homes in the area (Valley CC Estate, Algonquin Acres) and would be happy to share insite as to some other issues. (Water Districts, School Re-zoning, etc.)
The location west of Parker Road is a huge bonus, as you don't have to fight nearly as much traffic!
It depends on the lot, how big is it (square feet)? what does the lot face or back up too? But in this market I agree that seems high. Do you have negotiating help with the Builder? Would you like help?