Within Forrest park are in Ardenwood I notice that townhomes sell for much less (per SQFT) than single family homes? Can someone please help?

Asked by ramkumar_rk, Fremont, CA Sun May 6, 2012

I am looking for homes (SF/Townhomes) in the Ardenwood/Forrest park schools. Is there a major price difference between these two schools areas? Also within Forrest park i notice that townhomes sell for much less (per SQFT) than single family homes? Is that true? Can someone please help?

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The Medford Team’s answer
The Medford…, Agent, Fremont, CA
Sat May 12, 2012
BEST ANSWER
You asked:

Q: Is there a major price difference between these two schools areas?
A: There is a minor price difference – Forest Park Elementary has an API score of 975, while Ardenwood is at 949 – many families, given the opportunity, prefer Forest Park over Ardenwood – even if there is a lottery-based admission system in place for both schools. Reflecting this, prices per square foot for detached single family homes are slightly higher in Forest Park ($364.72 per square foot) as compared to Ardenwood – including both the older and newer sections ($361.14 per square foot).

Q: Also within Forrest park i notice that townhomes sell for much less (per SQFT) than single family homes? Is that true?
A: That’s not just true of Forest Park (town houses come in at an average of $299.36) – it’s true in the Bay Area as a whole. Condos are even lower ($284.21). There are a number of reasons for this:
• Townhouses/condos don’t have the same amount of actual land as a detached single family home.
• There is an economy of scale when building a TH/condo community – these costs are passed on to consumers in lower overall values. This is also true of TH/condo operating and maintenance costs.
• Many developments have not been eligible for FHA financing – driving prices even lower.
0 votes
Thanks, Carl. Awesome response!!
Flag Sat May 12, 2012
Brian Ripp, Agent, Fremont, CA
Mon May 7, 2012
First, please make sure you are aware of the boarders of the elem. schools.
Second, with so many different sizes of homes and townhomes, pricing often depends if the home is attached or detached, large HOA fee or no HOA fee, backing up to hwy 880 or railroad tracks or nearby school & park.

Many things effect pricing, however - I find the pricing to be a bit higher in the Ardenwood area due to: age, good schools, nearby parks, and close to the bridge (hwy 84).

Take care,
Brian
1 vote
Jason Huang, Agent, Fremont, CA
Mon May 14, 2012
Most buyers prefer single family house if it's within their price range
0 votes
Ken Vasan, Agent, Fremonet, CA
Sun May 6, 2012
Hi Ramkumar :

Pricing between Ardenwood and Forest Park vary - Yes, that is the fact. How much depends on varied factors such as conditon / Age / Sq.ft / location. It is highly speculative to assign a certain percentage.

Within Forest Park area itself $/sq.ft between townhome and SFH varies significantly because you are not comparing like samples.
Web Reference:  http://www.kenvasan.com
0 votes
Thanks, Ken. Much appreciated. I am also not getting enough townhomes to compare in Forest park area. Please let me know if there is any suggestion. I checked Zillow/other websites.. Really not much to compare.. I don't want to be a monkey throwing darts.. Thanks !!
Flag Sun May 6, 2012
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