Thank you very much for all of your truely advise!!
I just got a house in FC back in Jan. The price is the one that we could afford...with the low interest rate! I really like my house. My son just got to his kindergarden on time too!
The inventory starts to build up again. Some of the houses over 2000 sq are really good deals. Some of them are only mid-900. To me, I may not care if this is only short term fluctuations...even in next couple years... Becuase I try to commit to this house for at least 15 years this time!
Thank you very much again for your opinions! I will try to keep you all in my contacts in case I need further help :)
First congrats on adding on and updating the most valuable room of a home. Knowing foster City I will assume you did it with permit. It is very difficult ot put a value on an updated kitchen. They are all done differently. Here is a quick reference. http://www.pruvoices.com/2010/05/remodeling-dont-do-it-to-resell-2/
The return might be different when you are ready to go to market. Several years ago almost all updating got the cost back and more. Now paint and flooring are about the only two guarantees. An updated kitchen in any market it makes your home sell considerably faster and that in it;'s self money.
Your home being 200 sq. ft smaller is not a major concern. The floor plan is more important.
If you want give me your address and I will check what the county records shows for your home. No cost and no obligation.
NOt sure where you found out your neighbors home sold for $1,300,000 but sometiems the published sales price can be misleading. The factors that will affect the real value are the termite report, owner financing, seller credits to the buyer, rentbacks, etc. A good real estate agent can track down most of that info for you.
Good Luck but remember markets change and marketing activities need to change with that.
Sorry for your bad experience.