Market Conditions in 94568>Question Details

Genzeb, Both Buyer and Seller in 94550

I'm making an offer on a 4bd house in Tassajara Meadow, Dublin. Price is great but 'am concerned about decline

Asked by Genzeb, 94550 Mon Oct 8, 2007

I am making an offer on a 4bdr house in Tassajara Meadow, Dublin. The price is great but I am concerned about three other identical houses practically on the same block that have been on the market for months. Will those sellers follow suit and lower their prices losing me equity from the get go? What is the real estate outlook for that area of Dublin given all the new development going on? Please include a "go" or "no go" on your responses on making an offer.

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Go get a copy of the recent issue of Business Week and read the cover story. Your situation is similar. The inventory of new homes in the area is going to impact property values as builders slash prices and offer incentives to move inventory.

The more important question is not the sale price and what may happen in the short term. California real estate appreciates better than most of the country. If you are planning on living in the house for 5 to seven years or more - make the best deal you can and move into your dream home. Be prepared to live through a year of influence from existing factors.

Another thing to consider is the end of the year is approaching. Sellers that need to sell for the current tax year are going to be pressured to make a deal. If this is not your dream home, you may want to watch the market for another month or so.

We update current MLS trends and market details weekly
3 votes Thank Flag Link Tue Oct 9, 2007
Hi Genzeb,
Tassajara Meadow is a very nice new area of Dublin. However you are right to be concerned about property values dropping. Once one seller takes a low offer the others usually do follow suit because the last sale becomes the new benchmark. Appraisers will use the latest sales in thier comp calculations so even if the new sales are above the last sales they may not appraise. The key here is how long do you plan to live in this house? If you can hold it for at least 5 years you should be fine. This is NOT a market to buy and turn homes. Tassajara Meadow is a great place to live. The area has really developed very well and will always attract buyers who want a nice family neighborhood that is affordable.
I would say go ahead and put in your offer but plan to wait out this market.
Let me know if you would like an assitance with your offer or recent comps of the area..
3 votes Thank Flag Link Mon Oct 8, 2007
Sorry, wrong link, This is the correct one.

http://www.movoto.com/real-estate/homes-for-sale/CA/Dublin/5…
0 votes Thank Flag Link Wed Jul 2, 2008
Dublin's market is deteriorating very fast. Look at this property: http://www.trulia.com/homes/California/Dublin/sold/2849825-5…

If I were you, I will low ball this one at $750. That will be less than $200/sqft.
0 votes Thank Flag Link Wed Jul 2, 2008
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