Market Conditions in Fremont>Question Details

Shonaa,  in Fremont, CA

3870 carol ave fremont 94538. What's the right price that house? I like that property but asking price is too high. Give me some advice.

Asked by Shonaa, Fremont, CA Mon Jun 17, 2013

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Hi Shonaa, you are right that area is doing extremely well in the last few months ... The area around Hirsch elementary school is so popular! Have you been looking for some time? Let me know if you'd like me to send you comps? Please email me at rinirealtor@gmail.com
Web Reference: http://Www.rinirealtor.com
0 votes Thank Flag Link Tue Jun 18, 2013
Here is my advice:

Find a good buyer’s agent, have them run the numbers for you and then take their advice for price. As you’ve noticed from the responses below, Realtors who are following the Code of Ethics cannot give you a price in a forum such as this.

It’s a crazy market and in reality, the price of any give house is not the real issue. Whether or not you want the home is, in fact, what you should be thinking about. If you want it, you need to figure out what you need to do to get it. Haggling about the price will not do it. If the house is above your maximum price point or you feel it’s worth too much, then have your agent submit an offer at the price you are willing to pay and see what happens. Truthfully, I can probably predict the outcome with 99.9% accuracy.

In an increasing market such as this, if the home sells at the list price or higher, then it will be the new comp for the area and the next home will sell for even more.

Here is a post that may be helpful:

Current Bay Area Market NOT A Bubble: Top 5 Buyer Recommendations
http://www.trulia.com/blog/carl_medford/2013/04/current_bay_…
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1 vote Thank Flag Link Tue Jun 18, 2013
Shonaa,

You have already said that the price is too high. What kind of advice do you expect that will be meaningful to you when you have already made your decision? My advice: move on.

Or…take the advice of several others and hook up with a local Realtor who can give you solid guidance for a possible fair price for this house…or others if this one does not work out for you.

By the way…this house was on the market in 2005 for $898,000 for 3 days and was withdrawn from the market.
0 votes Thank Flag Link Wed Jun 19, 2013
750K does seem like a lot of money for a home with less than 1,300sq.ft. You should sit down with your Realtor and review the market and the recent activity in this area. Although the market is very hot in this area, it still might be higher than someone is willing to pay.

If you don't have a Realtor, pick three and meet with them and discuss your needs and price range.

Brian Ripp
0 votes Thank Flag Link Tue Jun 18, 2013
Shonaa, This is seller market and even seller ask lower prize,buyer will push that prize higher. I recently holding open house in union city and seller asking $700k range even similar home sold in $800K range.Finally it sold close to $775K for cash.I checked recent sales in the area you area referring and most of them sold in $700K to $750K range.Ask your realtor to check comparative market analysis in the area and help guide you to prepare for good offer.I hope it helps!!!Good Luck.
Web Reference: http://www.joesellshome.com
0 votes Thank Flag Link Tue Jun 18, 2013
Shonaa, the current market is like that. Many prices seem high. However, a good Realtor working with a good loan officer can help you determine the ongoing COST of owning that home. With low interest rates, sometimes higher prices can still work. Because there are not as many houses on the market as there are buyers right now, most homes receive multiple offers above list price. Buyers often have to make many offers before one gets accepted. You need to decide if you like the house enough to pay that price or if you need to find a house at a price you are willing to pay. As Rini and Larry suggest, work with a Realtor, have them ask those questions and then decide what you want to do. The "right price" is whatever someone is willing and able to pay. A good Realtor can help you think through this. Feel free to contact me if you have further questions.
0 votes Thank Flag Link Tue Jun 18, 2013
Shonaa,

Have your agent communicate with the listing agent to get all the information possible, how many offers are there, has a deadline for offers been set, do they have inspections, etc.

Then have the agent you decide to represent you run the comps for you to show you what the value is lately in the Irvington High School area.

You must make a decision through knowledge, then you can make an informed offer.


Best Regards,

Larry Gallegos
Real Estate Collaborative Specialist-Divorce

Broker Consultant, e-Pro Certified
CRS-Certified Residential Specialist
Luxury Home Specialist
ASR-Accredited Seller Representative
GRI-Graduate, Realtor Institute
SRES-Seniors Real Estate Specialist
ABR-Accredited Buyer Representative
ASP-Accredited Staging Professional

Better Homes and Gardens Real Estate, Mason-McDuffie
43430 Mission Blvd., Fremont, CA. 94539
(Corner of Mission & Mission Tierra)
Direct (510)-492-4872, Fax (510)-217-4249
mailto:Larry@LarryGallegos.com
Visit my Website at http://CustomBayHomes.com
dre license # 01253795
0 votes Thank Flag Link Tue Jun 18, 2013
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