JudyBollinge…, Home Buyer in Foster City, CA

Is $560,000 a good amount to offer for 4108 Admiralty Lane???

Asked by JudyBollinger71, Foster City, CA Tue May 28, 2013

This question was asked from http://www.trulia.com/property/3119049185-4108-Admiralty-Ln-…

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There is more to making a good offer than just offer price. Your agent should be giving you better advice than you can get in a forum from people who do not know your circumstances. Work with a strong experienced agent and you will probably have more confidence in what you think than in the advice from strangers who know nothing about you or your situation.

For most people buying a home involves learning even if they bought a home perhaps 7 years ago. An experience agent will help you learn quickly and make a better offer than you could on your own.

Foster City real estate statistics at http://julianalee.com/foster-city/foster-city-statistics.htm

Recent Foster City condominium sales at http://julianalee.com/foster-city/foster-city-home-sales.htm

Give me a call and we can chat about the best steps for buying a home.

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650-857-1000

Over 20 years experience
Over 1,000 homes sold in San Mateo and Santa Clara Counties
Web Reference: http://julianalee.com
0 votes Thank Flag Link Tue May 28, 2013

You may know that today was "offer day". All offer(s) were due at noon. If you have yet to submit an offer, the smartest thing to do is contact me. 650-921-9855. I can help you understand where the Seller is at in the process. If no offers present...well, forget $560,000, true?

Best regards,
0 votes Thank Flag Link Tue May 28, 2013
The Admiralty has suffered some setbacks in the last few years, however it's never been a "dump". The new design of the exterior is a lovely "mid century modern" look. The units here take a bit longer to sell because of the lack of funds in the reserves. The best advice I can give you is to speak with your Realtor and have him/her pull comps and take it from there. I also predict that this complex will rise above the problems it's had and onec again become a popular place to purchase a home.

Another great thing about this complex is with the tennis/pool and other amenities, the neighbors are great. The ground floor units have a huge private yard too
0 votes Thank Flag Link Tue May 28, 2013
On 2nd glance:

Ok, I just opened the MLS for a look. 10 sales in the last 4 months, 6 of those were distressed, and not one of them sold for over $463k. I'd like to cancel my previous prediction and say that, unless you're competing against other offers and HAVE to have that place, I wouldn't offer any more than $500k for it.

contact me if you'd like me to explain any of this in detail, or send you a data sheet with the numbers.

0 votes Thank Flag Link Tue May 28, 2013
Just off the top of my head I'd say no... only because that place has been kind of a dump for the last several years, at least until they did a bunch of rehab work to it recently.

I'd honestly have to look at recent sales and see what an appropriate value should be, then let you calculate in your desire for the property (positive or negative).

However, all this goes out the window if you are competing against other offers. In the current Peninsula market, you'd be hard pressed to find anything around $550k that is a 3/2 with 1400+sqft. I'd frankly be surprised, with the current inventory shortage, if there weren't multiple offers on that place. When multiple offers occur around here, things tend to get out of hand.

If you are competing against multiple offers, I predict that unit will sell for around $650k... just based on the current activity and demand we are experiencing. If you don't LOVE this unit, I wouldn't compete against other offers for it. Something else will come along.

Hope this helps:)
0 votes Thank Flag Link Tue May 28, 2013
This is really not the correct venue to be asking a question like this - you buyer's agent should be running the comps for you and then advising on price. If you don't have a dedicated buyer's agent yet - it's exactly reasons such as this that you need one. Going direct with the listing agent? NOT a good idea.
0 votes Thank Flag Link Tue May 28, 2013
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