Home Selling in Elk Grove>Question Details

Tracy Tran,  in Cupertino, CA

I have a rental at 9718 parktree way in elk grove, 95624. Can you give me an idea of how much we can sell it for? Thanks Tracy

Asked by Tracy Tran, Cupertino, CA Fri Jun 28, 2013

Help the community by answering this question:


Hello Tracy

Wow! Lots of responses.

Within a mile radius of your rental, the sold comps are coming in from $220K on the low end to $270K on the high end. I stayed within a mile radius because that is the indusry standard and appraisal standard.

There were only four sold comparables. In addition, there is only one new comp llsted (one day on the market as of the day of my post) at $300K - it has a pool and spa and has been updated Assuming your property is in average condition, because inventory is low and buyers are still interested (trying to get in before interest rates go up and fall sets in), you should be able to get the higher end pricing for your property, $270K.

Hope that helps!

Keisha Mathews, REALTOR®
CDPE®, HRC®, HAFA® Certified
SAR Masters Club Member 2012
SAR Masters Club Steering Committee
Mathews & Co. Realty Group
@ Century 21 Landmark Network
(916) 370-1803 cell
lic#: 01439130
1 vote Thank Flag Link Sat Jun 29, 2013
Hi Tracy,

From the input from my esteemed colleagues, I think you already have a good idea of how much your property will fetch in today's market.

Just want to share with you though, since this property is a rental, you might want to invest some $ in fixing up the property inside and outside including the landscaping. This will ensure you will get many offers and get the maximum price for your property.

When you put your property on the market, you will get a number of FHA offers, another set of conventional and some others in cash. Since appraisal values are lagging behind, higher offers will not appraise. Make sure that buyers have the cash to pay for the difference. Of course cash offers are the best, but they tend to be lower, especially if they come from investors.

Make sure you get an experienced listing agent who knows how to market the property and are familiar with elk grove.

Good luck,

James Tan
Bethany real estate and investments
916 230 5250
1 vote Thank Flag Link Fri Jun 28, 2013
Hi Tracy,

I just sold a home that is closing escrow this Wednesday that is less than a mile from your rental. It was a 3 bed 2 bath, 1504 sq ft, move in ready condition but dated, and it sold for $230K, or $153 per sq ft. Based on these figures and all things being equal, your home would probably be in the range of $$275K-295K . After viewing your property I could have a better idea of its value.

The market is hot! I had over 20 offers on my listing and almost all of them were over list price

Please feel free to call me at 916_806-6912 to review and discuss a game plan.

Best wishes, Steve
1 vote Thank Flag Link Fri Jun 28, 2013
Hi Tracy
The value is in the 240 to 260 range but as everyone else has said that is depending on condition.
Give me a call and lets meet to review your goals and then get it sold. Thanks.
1 vote Thank Flag Link Fri Jun 28, 2013
Hi Tracy, Your house is approx. 1862 sq. ft. Depending on condition of property and any updates, it could sell in the $250,000 range, give or take. Of course, previewing the property and comparing it with recent sold properties in similar condition will give us a more accurate number. If I can be of assistance to you, please give me a call. Lonnie Cox, Real Estate Masters, Elk Grove, CA 916-601-8260.
1 vote Thank Flag Link Fri Jun 28, 2013
Raw data shows comparable sales at around $262,000. I can send you the report that shows that using the data from realist. I'm assuming the other respondents are pulling data from metrolist which only uses sales data that went through the MLS system.

However, I caution you on selecting a listing agent based on promises that may or may not be fulfilled. (How about if I promised you $350K?...I'd be lying...) I pride myself on having a unique marketing approach, that provides you the best price and terms for the market. I will not share it here but my 2by2 marketing is honed by years of marketing experience outside of real estate.

Condition of the home, and surrounding homes might affect value. If you put a sign in the yard, you'll get offers all day long. There's no inventory!! Buyers will come. But if you want the best price and terms, the smoothest transaction with the best outcome, then you need to interview experienced agents and learn what approach they would use to meet your goals.
1 vote Thank Flag Link Fri Jun 28, 2013
Your rental property could list for anywhere from $225K to $250K depending on condition and updates.
1 vote Thank Flag Link Fri Jun 28, 2013
Hi Tracy
Your square footage is 1862. In the current market your home would appraise for about $240,000. I would recommend a list price of $249,000. Id be happy to assist If you need my help, contact me anytime.

Thank you

Gabe Davidson
Broker Associate
1 vote Thank Flag Link Fri Jun 28, 2013
It will depend on when you put the home on the market...its changing weekly. The condition of the home and if there are any updates will also help determine price. Are you a For Sale By Owner? LOL!
0 votes Thank Flag Link Sun Jun 30, 2013
Nine agents answered with estimates ranging from $225, $240, $249, $250, $260, $262, $270, $275-$295. I added all those estimates together, then divided by the nine experts. If an expert gave a range, I included both the low range and the high range. The average estimate from the nine experts was $258,444. The median estimate was $260,000. If you do list your house, please come back on the thread, let us know what you list at and when it sells come back and tell us what the final sale price was. You will be doing the industry a great favor by giving us this feedback.
0 votes Thank Flag Link Sat Jun 29, 2013
Jim Walker, Real Estate Pro in Carmichael, CA
Hi Tracy,
You and I both have rentals in that area. My rental is about 1/2 mile away on Melodic and I'm about to put that on the market also. Your house is in a desirable area and in this hot market it should sell for about $145 sq.ft. at the upper end of the market in that area with prices still rising. As of today $141 sq. ft.t is the high sale, but with the investors back in the market the price is whatever they are willing to pay. The fact that your home is a 4br/3ba gives it some extra value. 4 bedrooms in that area are even more valuable because many families in that price range love that area because of the proximity to EG High and Joseph Kerr Middle School. I've lived in the area for 22 years and I've owned a few rentals around the area, all rented by familes with 2 to 3 kids. I have sold homes on Meadowdale, Meadowsweet, Tralee and Melodic and all were to families who bought here because the kids could walk almost everywhere they needed to go. I'd like the opportunity to show you what I can do for you. I'm available 7 days a week and my phones on till about 10pm 916-416-8600. Most everything we would need to do can be handled over the internet with electronic signatures.

Hope you have a wonderful weekend,
Mark Forster, #1 RE/MAX Gold
0 votes Thank Flag Link Fri Jun 28, 2013
Hi Tracy,
Contact my office if you would like to schedule an appointment for a true market valuation on your property.

We can also discuss if selling your property makes sense and helps you with financial goals.

I'd prefer to leave your answers off the public forum.
0 votes Thank Flag Link Fri Jun 28, 2013
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