What is a reasonable price for a 5bd, 3bath, 2867 sq ft, built in 2006 in Morgan Hill, Ca? The listing price is $425k. Thanks

Asked by Julie Bekerman-Singh, Pleasanton, CA Sun Feb 7, 2010

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This question is about this property: http://www.trulia.com/homes/California/Morgan_Hill/sold/2766…

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6
Julie Bekerm…, Agent, Pleasanton, CA
Sun Feb 7, 2010
Thanks for everyone’s answers, I did write up the offer a lot over asking, and my clients have half in cash, so we will see tomorrow when the offers are going to be presented to sellers. I do know that this property has a lot of multiple offers.
0 votes
Cappy Myers, Agent, Morgan Hill, CA
Sun Feb 7, 2010
Hi Julie,

My wife and I are considering buying in Morgan Hill and we attended the open house this morning for this property. This particular property is a short sale. I believe the sellers bought the home in 2006 for about $700,000.00. $425,000 for this home is below market. I have not had time to do a market analysis on this but if you would like to discuss it further or just talk about what we found in this price range, please contact me.

Cappy
Web Reference:  http://www.TimelineRES.com
0 votes
Mike Walters, Agent, Hollister, CA
Sun Feb 7, 2010
Julie,

$425,000 is a very good price for a home of that size in Morgan Hill!

Depending on location, amenities and condition the prices range from $425,000 (16820 San Jose Ci.) to $799,000 (470 Maiden Springs). The CMA I just did averages them at around $699,000.

Hope that helps.

Mike Walters
Web Reference:  http://CaHomes411.com
0 votes
Julie Bekerm…, Agent, Pleasanton, CA
Sun Feb 7, 2010
Will, thanks for your help, the street of the property is San Jose ct, Morgan hill, Ca. The house is in a good condition.
0 votes
William Klopp, Agent, Morgan Hill, CA
Sun Feb 7, 2010
The area near San Pedro is not the high end district of Morgan Hill. But for the bedrooms and square footage I would comtemplate writing an offer on a property priced at $425K
0 votes
William Klopp, Agent, Morgan Hill, CA
Sun Feb 7, 2010
Julie, without knowing the specific location and condition of the property it is tough to answer the question effectively. However, in Morgan Hill condos go for about $290k and up. SFRs with the square footage you provided would typically go for higher than $425k. That is less than $150/sqft which is less than the typical cost to build in MH. If schools are a factor, then location would be important. The Morgan Hill Unified School District overall is pretty good with some schools like Nordstrom ranking higher than others. Good Luck.
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