Looking at the info provided; yes, it looked like it is overpriced:
Being in a HOA, there doesn't appear to be much land with it; which would help.
The one "clue" would be that it was built in 2008, to very high standards:
It might mean that the owners have almost that much in the house and land, and they don't want to do a Shortsale to sell it.
Your Realtor could confirm this.... more
It's funny how a whole bunch of broker tell you that Salinas is a "small town" or "nice place". Go see it yourself. It's the equivalent of Oakland. Shooting, break in, robbery happen weekly, if not daily.... more
Even though there may be a shortage of housing inventory in Salinas the overall economy is still a bit uncertain and we are in the trenches of a Buyers Market. REO's are on the decline and short sales are still very much a part of the market inventory. If you are a Buyer, it is a good time to purchase. If you are a Seller, the market is stabalizing and higher list prices are on the rise. When you hear the market has recovered it does not suggest that home prices are going back to inflationary prices; not by a long shot. Our current market data shows that List and Sales prices have increased from the largest decline in RE market history.... more
Many bank owned homes are slightly or seriously distressed. Do your best to make your house shine - it will stand out among the bank owned if the condition is significantly better and the appraisers and buyers will notice.... more