Has this property been bank appraised? What did the appraisal come in at. I feel the asking price is more than it is worth? It must be underwater?

Asked by Beachedinpacifica, Daly City, CA Fri Feb 1, 2013

This question was asked from this property: http://www.trulia.com/property/3107508053-369-Gate-Way-Santa…

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Johanna Sand…, Agent, Santa Rosa, CA
Sat Feb 2, 2013
The property has not been appraised yet. The buyers lender will get one done. It is not a short sale so I don't know if it is underwater. They are reviewing offers on Monday 02-04-2013, if any. Please let me know if I can help you or perhaps I can find you something else?

Best Regards,

Johanna Sandev
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Terry Bell, Agent, Santa Rosa, CA
Sat Feb 2, 2013
The market is again picking up! If you are still waiting to hit bottom, it has come and gone. Recommend you find an agent on Trulia in your area that can sit down and go over your situation and help you get ready to know when the right property is available. Good Luck, Terry Bell, CPS Real Estate, Santa Rosa, CA
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Karen Fleming, Agent, Santa Rosa, CA
Sat Feb 2, 2013
Hi- the last sale in the complex sold for $145,000 in October 2012 and there is a 3 bedroom unit that was recently listed for $195,000 and the listing agent has received multiple offers so it would seem that $150,000 is a reasonable asking price. Also in this market with many many more buyers than properties I would expect there will be multiple offers on this homes too and that it may very well go above the list price. . It is an REO and the bank probably didn't do an appraisal but a broker price opinion and of course, the listing agent would have submitted a pricing strategy. I wouldn't worry about an appraisal coming in at list price or even higher. Hope this is helpful- if you are interested in seeing it please let me know.
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Michelle Moz…, Agent, Santa Rosa, CA
Sat Feb 2, 2013
Good morning Beachedinpacifica,

Remember, if you offer on this property, the only true indicators of value are:

1) your lender's appraisal and

2) the price you pay for it.

This is a very hot market. Lower priced property values are feeling intense upward pressure from all-cash investors willing to pay over market value. This, in turn, drive market values higher.

I just ran a county CMA. I am not an appraiser. I have a fill county report if you want to see those numbers.

The lister is asking that all offers be submitted by the 4th. Would you lke to preview?

Here is the MLS listing:


Please contact me anytime!

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I do not suggest that other agents cannot deliver competent service; I am stating that few others can deliver in every phase of the transaction the level of understanding, devotion to selfless fiduciary care and effective and protective completion of service (whether this is a successful close of escrow or a safe cancellation of the contract) as I do.

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