For the table listed below, I have to point out that it applies only to Gale Ranch and Windermere area (relatively new houses, better community). For houses in south San Ramon (close to Dublin and I-680), the sale price is typically 10% lower.
Another approach is to check the lowest listing price of similar house (most probably bank-owned or short sale), cut down at least 10% or 15%. Do not forget to compare your offer with the table listed below. It should be at least lower than that listed in the table. Otherwise you are overpaying and will regret later.
The key point is that you need to ignore the listing price, no matter how high it is (i.e., don't be fooled by the listing price). Good luck with your house hunting.
Darrell - Fri Apr 25 2008, 14:27
Here is the guideline:
Living Area (ft2) Offer Price (k) Price/sqft
1800 $586.1 $326
1850 $597.5 $323
1900 $608.6 $320
1950 $619.4 $318
2000 $630.0 $315
2050 $640.3 $312
2100 $650.3 $310
2150 $660.1 $307
2200 $669.6 $304
2250 $678.8 $302
2300 $687.8 $299
2350 $696.5 $296
2400 $705.0 $294
2450 $713.1 $291
2500 $721.0 $288
2550 $728.7 $286
2600 $736.0 $283
2650 $743.2 $280
2700 $750.0 $278
2750 $756.6 $275
2800 $762.9 $272
2850 $768.9 $270
2900 $774.7 $267
2950 $780.2 $264
3000 $785.5 $262
Subtract 5% is the house is more than 10 years old. Subtract 2% if the house is not in decent condition. Add 2% if the house has great upgrades.
The list is valid only for this month (April 2008). Subtract 1% each month until end of this year.
Darrell - Fri Apr 25 2008, 14:06