We could not make a deal on this house, as the builder was firm on the listing price and ddint negotiate.
The house are good though.
good luck.

Hi NItu,
We recently saw model homes (not the one you are looking) at ironwood too. We are thinking of the Willow plan, anyway, any luck with the price negotiation? Did you end up buying?

Hi Nitu, there are two words that I see on Trulia that frustrate me the most: RealtyTrac and Zillow!

Zillow is nothing more than an Automated Valuation Method (AVM) website. Accuracy varies WIDELY by County. Here's Zillow's Median Error for the following Bay Area/coastal counties:

Alameda - 8.8% Contra Costa - 9.5% Marin-14.1% Monterey-16.7% San Francisco-10.1% San Mateo-8.2% Santa Clara-7.6% Santa Cruz-14.2%

What the data shows is that estimating value based solely on numbers does not work because it completely discounts the qualitative aspects of a home, and that's a huge mistake because while price is important in buying a home we all know location, amenities, look and feel play a large role in determining market value as well.

If you are serious about Real Estate and accurate information/valuations you must be working with a licensed Realtor/Appraiser. Since the Seller pays the commission to the Buyer's Agent there really is no reason not to get professional guidance when purchasing a home, after all, the Seller has full professional representation – you should too!

An individually performed Comparative Market Analysis is the "gold standard" for approximating market value - period. A Comparative Market Analysis (CMA) gives you the best representation of market price/activity/trend direction - for the specific property details you search on. Just because a property sells right next door to another does not mean that it's a comparative match. DO NOT rely on median and average-based statistics, these measures are meaningless for targeted selling/purchasing as they have no regard for any of the specifics you may be comparing and can be skewed by segments of market activity not matching your individual situation (for example, the lower end of the market has heated up). A buyer/seller should look specifically at the targeted segment of properties that match their search criteria for the information to be meaningful. Generalized stats are easier to come by, but that doesn’t mean they should be used to make one of the most important financial decisions of your life.

My suggestion: Interview a few Realtors, pick one, and then team to develop a purchase strategy based on what sector of the market you are interested in.

Best, Steve

Hello Nitu,

Very interesting. The listing says it's a model home with 2,746 square feet of living space "per the builder". The builder is offering to pay for buyer representation. Purchasing a model home can bring on some unique challenges in perspective and representation. I know from personal experience...and professional of course.

If you're not working with a good buyer's agent, check out my website and give me a call at (925) 407-7987.

Kindest Regards,
Vickie Nagy
Realtor® - ABR, CRS, e-PRO, GRI, SRES
Specializing in "GETTING YOU WHERE YOU NEED TO BE"
(925) 407-7987 cell
http://www.VickieSellsHomes.com
http://www.BestTriValleyHomes.com
Vickie Nagy | Keller Williams | 760 Camino Ramon Suite 200, Danville, CA 94526

It's all a matter of preference. If you can get NEW in San Ramon for a better price than you can get in Pleasanton and San Ramon suits the needs of you and your family just as well as Pleasanton, i.e., schools, shopping, medical, freeway acces, etc., then you should go with San Ramon. I think the house on Ironwood is overpriced and will not go for 1million. Again, Zillow is NOT accurate and will only confuse you. You'd do yourself a favor by choosing a professional and taking their advice. Hope that helps.

I was confused : why pay near 1m for this house when we can get new house with approx same footage and features in San ramon for around 800k?
is there any other factor ( besides the downtown pleasanton ) that we are overlooking?

Nitu:

Zillow is a joke. Zillow values have absolutely no connection with the real market. Sit down with your Realtor, have them run a comprehensive CMA (Comparative Market Analysis), and then make an offer based on real data. Lowball offers are dead in the current market.

See the following posts:

http://www.trulia.com/blog/carl_medford/2009/05/the_perfect_…
http://www.trulia.com/blog/carl_medford/2009/04/new_flood_of…

Hello Nitu,

I would reccomend an offer closer to 899k. I think this property as listed is overpriced.

Best regards,

Adam

PS: Feel free to shoot me an email with more detailed questions

Hi Nitu,

I ran a search via a title company for the property profile. The profile on the county records shows the home to be 4 bedrooms, 3.5 baths and 2,746 sf. Zillow is not always a true accurate source, so glad you asked the question here. I'd be happy to help you with a purchase price for the home.

If you're getting ready to buy and would like to attend my free home buyer seminar tomorrow evening, please let me know. We will be discussing the first time homebuyer federal credit of $8,000 and more! It's a great time to get your questions answered. It is at 6:30 at the Rose Hotel in Pleasanton. Please register ahead of time as space if very limited. You can register by sending an email to Kurt@Pleasantonmortgage.com. Hope to see you there!!
Respectfully,

Rhonda Fee, Realtor, ABR (Accredited Buyer's Rep)

$850K will turn into $400K inside 12 months. Whatever floats the boat.

Nitu:

If you send me an email, I can send you back an actual info sheet from the MLS - this will contain all of the data for the property and will be the most comprehensive.

carl@carlmedford.com

and how about the estimated sale price , its listed over a 1 m, should we offer at around 850k as per zillows estimate?

Hello Nitu,

On the MLS it states the approx sq. ft. to be 2,746. Let me know if you need anymore information.

Best regards,

Adam