Home Buying in Alameda>Question Details

Oak916, Home Buyer in Alameda, CA

3022 Thompson is listed for $750,000. Do you think it'll go for that much? It's a nice house, but it seems over priced to me?

Asked by Oak916, Alameda, CA Sun Mar 6, 2011

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UPDATE:

Property closed escrow on April 12 at $725,000, or $25,000 (3%) less than list price.

Its near-twin at 3030 Thompson, a short sale, is still pending subject to lender approval. The list price on that was $689,50.....will be interesting to see how much it sells for. If it sells for under $700K, the buyer is getting a good deal which makes waiting for approval so very much worth it!
0 votes Thank Flag Link Sun Apr 17, 2011
The fact that it is already in contract after only 11 days on the market (where other parts of the city and neighboring cities can only dream of this activity) should tell you how attractive this home, this location and this price are to prospective buyers. Price was obviously not a deterrent. This illustrates that market value is based on what a buyer is willing to pay.

Some folks who look at trends on Trulia and Zillow don't always see the nuances of neighborhoods. One street separation can make all the difference in the world in terms of market value.

My guess is yes, it will sell to close to list price, especially since it has the popular configuration of 3 bedrooms/2 baths in the premier Fernside location that has always been one of the most sought after areas in Alameda.
0 votes Thank Flag Link Sun Mar 6, 2011
Oak916,

This property is in a High Cost Area which means you could ould consider a FHA loan for the financing with only 3.5% down payment.

FHA loan limit is $729,750 in Alameda https://entp.hud.gov/idapp/html/hicost1.cfm

Let me know if I can help.

Thierry

Thierry Abel
Senior Loan Consultant
All California Mortgage, Inc
P: (415) 464-8261
C: (415) 378-7508
F: (415) 464-2367
E: tabel@allcalifornia.com
0 votes Thank Flag Link Sun Mar 6, 2011
This home has been on the market for only 11 days. My guess is that the selling price is probably close to the listing price. Good area, obviously the seller priced it right.
0 votes Thank Flag Link Sun Mar 6, 2011
Hello Oak,

The home will sell for it's market value which may be more or less then priced. If you like, I can send you a list of homes sold in that area to help you decide on a offer price that's comfortable for you.

We are all here to assist you if you need. Good luck :)
0 votes Thank Flag Link Sun Mar 6, 2011
What price do you think would be a fair market value for the Thompson St house? Property is valued at what a buyer, (you), would be willing to pay. I will talk to you soon.
Web Reference: http://www.CerdaZein.com
0 votes Thank Flag Link Sun Mar 6, 2011
It's a nice house, in a nice area. In that neighborhood if a property is priced correctly and is marketed correctly it usually gets an offer quickly. My thoughts are if you like it talk to your agent (or if you don't have one talk to me) and write an offer that you will be happy with if they say yes. In that neighborhood if a property is priced correctly and is marketed correctly it usually gets an offer quickly. It does not cost anything other than time to write an offer. As for the market in general in that area there are not a lot of 3 bedroom 2 bath houses so if you find something you like its a good idea to pursue it because you might not find one you like again for sometime.

Thanks
Web Reference: http://www.troystaten.com
0 votes Thank Flag Link Sun Mar 6, 2011
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