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YourRealtor4Life! Working always in the very BEST interest of her clients, Buyers, Sellers and investors alike. Covering for @Properties the city of Chicago, all N and NW suburbs of N. Illinois, and the fine homes of the North Shore and with my partner agents I cover all states of the US and properties worldwide.
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It does not matter if it is "fair" for today's real estate market is driven by what a buyer is willing to pay. Do you have a realtor? Your realtor should be creating a Comparable Market Analysis showing you the sale prices of comparable homes in the area. Then you can decide what price YOU want to pay and make an offer.
Here are some numbers for you.
A 4 bedroom/4 bath single family home on 832 34th Ave. sold for $1,225,000 on 01/03/12 after 61 days on the market. Square footage unavailable. It did sell for the asking price. It was built in 1922 and based on the pictures looks completely renovated.
Then we have a 2440 sq. ft. 4 bedroom/3.5 bath home on 878 35th Ave. that sold on 12/09/11 for $1,050,000 after 19 days on the market. Asking price was $989,000. Also looks completely remodeled, built in 1925.
There was also 530 34th Ave that sold for $865,000 on 01/27/12. It has 5 bedrooms, 3.5 baths, 2768 sq.ft. Asking price was $875,000.
747 35th Ave. is the only 6 bedroom home on the market in that neighborhood at the moment. There is another property listed for sale just down the street from there on 735 37th Ave. It has 5 bedrooms and 3.5 bathrooms, 2800 sq.ft. Asking price $1,398,000.
Without having seen 747 35th Ave it is hard to say if the price is fair. Asking price is just that- asking.
Let me know if you have further questions or need any help with your search.
I have seen this spectacular house twice, and it is stunning. As to its value, I would not post my thoughts on a public site about a specific houses list price. You need to work with an agent to determine what you as a buyer think it is worth by looking at comparable sales and the specifics of the property.
If you need help then please call me to arrange a face to face meeting.
If you are willing to spend this much money I would think you could find other options closer in to town (unless you want to be that far out). Contact info below for expert help.
Lance King/Owner-Managing Broker
The ultimate market value is determined by how much a willing and able buyer agrees to pay for this house under normal market conditions. Are you looking for an evaluation? What's your agent's professional opinion of value?
Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.