Home Buying in Warm Springs>Question Details

siaj_nad, Home Buyer in Fremont, CA

Warmspring condo , over priced ?

Asked by siaj_nad, Fremont, CA Mon Mar 18, 2013

There are quite a few SF homes coming out in the market in Warm spring area and are being listen in 700s, whcih makes sense. But condo are generally cheaper . Saw a condo in Fernald Cmn which seems over priced ? Since they are the last to go off the market as are not preferred over SF.

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Firsttimehomebuyer,

The most recent sale of a condo on Fernald Common in Fremont was a unit that listing for $425,000 and sold for $481,000.

This is the property that you thought was “overpriced.” Apparently the buyer did not agree.
0 votes Thank Flag Link Mon May 6, 2013
thank you all for the responses.Yea, I was referring to the 46914 Fernald Common.
I am anxious to now to find how much it ends up selling for ? Seemed like a prime location but then I hear there are new townhomes being build right across warm spring park. there are many would be buyers waiting for that and me too.
0 votes Thank Flag Link Mon Mar 18, 2013
Per the agent, offers were due today on the condo that is currently listed for sale on Fernald Common. I am willing to bet that there will be a few offers and the final price will not be below the asking price.
0 votes Thank Flag Link Mon Mar 18, 2013
As they say, location, location, location,

In this market, condos don't necessarily or always mean less value or cheaper than a single family home. If the condo is located in a new building downtown and has fabulous Bay views, it may be worth more than an older single family home near the railroad tracks.

Configurations, square footage, amenities are all factors.

If you aren't working with a seasoned realtor yet, you probably should engage one who can show you properties (and comps) in the area where you prefer to live, and explain how price ranges change depending on the area.

Good luck.
0 votes Thank Flag Link Mon Mar 18, 2013
Nothing is overpriced in this crazy market.if it is over priced,buyer will correct the price.Your agent should know the COMP for the home in the area.This is supply/demand thing.I hope it helps.Good luck!!!!
0 votes Thank Flag Link Mon Mar 18, 2013
Hi there,
Are you referring to 46914 Fernald Common in Warm Springs? If so, in all reality, it's not really over-priced. This is a larger 3bed/2bath condo.

That being said, the market will dictate the price when all is said and done. A home will not sell for more than the highest price a buyer is willing to pay. All buyers have a different motivation for wanting to buy a given home. Some buyers are much more motivated than others.

If you are really interested in this property, contact your agent ASAP, as offers are due today! Like Brian states, your Realtor should help you analyze the comps and determine a good market offer.

That's my 2.5 cents ;)

Good luck!
0 votes Thank Flag Link Mon Mar 18, 2013
The Warm Springs area is a very desired area. Great Elem. Schools and close to the San Jose / Santa Clara areas. As well as easy access to hwy's 880 & 680. And now with the Warm Springs BART station under construction, there will likely be more people looking at this area. That will create more demand for housing there. Sit down with a Realtor and look at the comps in the area and see what you think.
Brian
0 votes Thank Flag Link Mon Mar 18, 2013
Overpriced compared to what?
Condos have the advantage of maintenance and security.
But they have the disadvantages of No land, No garage, an HOA looking over your shoulder as well as HOA fees, and being harder to sell, (among other things.)
No matter what you are considering; you should enlist a Realtor to give you the facts and figures.
0 votes Thank Flag Link Mon Mar 18, 2013
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