Is a 2b condo in masonic ter, warm spring area worth around 415K?

Asked by bakul_jain, Fremont, CA Mon May 6, 2013

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The Medford…, Agent, Fremont, CA
Mon May 6, 2013
In the current market it's not so much an issue of what any given property is worth - it's what someone else is willing to pay for it. If you want to get a home, you have to figure out what you think others may be willing to offer and then go a bit higher. And it goes without saying that appraisals are a huge problem right now - it helps to have enough cash so that a low appraisal will not be an issue.

As suggested by Brian, make sure you are working with a buyer's agent - this is not the time to try to go it alone.
1 vote
John Juarez, Agent, Fremont, CA
Mon May 6, 2013
Is it worth $415K to you, bakul_jain? Because if you want it, that may be what it will take to put your name on the ownership deed?

Will it appraise for $415K? I doubt it. As Carl has already pointed out, appraisals are a huge problem in this rapidly escalating market. If you are ready to make the offer that will be sufficient to secure the property be sure that you can swing it financially. Not only must you be preapproved for a mortgage but you better have extra reserves to make up the difference between the appraised price and the contract price.

One more thing…if you do manage to buy the condo do not second guess the price. You won the contest! You got the condo! That is what you are trying to do…right?
0 votes
Michael Tess…, Agent, Fremont, CA
Mon May 6, 2013
Dear Bakul,
As the others have stated it doesn't matter if it is worth it only you can decide if it is worth it for YOU and your situation. With the shortage of properties currently for sale I would bet that this property may even sell for more than they are asking but NOT in every case; location, condition and the ability to obtain financing are always things that can affect the value of any property however if the property is the right home for you then you may wish to consider an offer and it's one you feel is the best you may wish to add just a little bit more to the offer to hopefully have yours be the one accepted by the seller.
Wishing you the very best in your home search and should you have any further questions don't hesitate to email, call or text I would welcome your questions
0 votes
Joe Patel, Agent, San Ramon, CA
Mon May 6, 2013
It's supply/demand thing about how much buyer wants to pay for any given home.I recently sold condo in fremont to buyer and it was originally listed at $317K but sold at $50K higher than asking price.I hope it helps.just like Carl and Brian suggested
0 votes
Brian Ripp, Agent, Fremont, CA
Mon May 6, 2013
Hello Bakul,

If you have an agent, they should be able to show you the comparable sales for this area.
Likely it is worth there price as the market is still very active. And many families like the Warm Springs area.

Let me know if I can help - thanks,
0 votes
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