Thank you for your question:
With respect to this property, the property at 1349 Mich Bluff is described as new, and 1,721 Square Feet.
The most similar recent comparable sale in the neighborhood is 2216 Emerald Hills Circle. That property was built in 1985, and has 1,829 Square Feet. That property was listed on May 11, 2012 at $559,800 and bid up to $631,500 with multiple offers. The offer that was accepted by the seller, was accepted on May 17, 2012 and the close of escrow was on June 14, 2012.
With respect to the issue of lower priced homes in the neighborhood, I supect that these were properties with deferred maintenance and needed a great deal of work. For example several months ago I inspected a home for sale in that neighborhood for one of my clients. The home was listed for sale at $479,000 and finally sold and closed escrow at $465,000. However that property needed a lot of work. I had estimates of approximately $130,000 worth of work needed to bring that property back to reasonably good condition. My client declined to make an offer on the property because of the large amount of work that it needed.
I have not had the opportunity to inspect the property at 1349 Mich Bluff Drive, however, based on the photographs of the interior of the property, this property appears to be in excellent condition. Based on the sale of the property at 2216 Emerald Hills drive, the list price of $668,000 for the property at 1349 Mich Bluff Drive does appear to be a realistic price for a house of this size, new, and in excellent condition in this neighborhood.
I recommend that if you do make an offer on this property that you get a thorough property inspection and roof inspection to confirm the condition of the property and that you check with the San Jose Building Department to confirm that all of the work on this property was done with permits and that those permits have all of the required signatures on them and that they are all finaled.
I also recommend that you ask about the history of this property. The original house that was there was reported to be 846 Square Feet in size. The listing for this property claims that this house is new with 1,721 Square Feet, and was built in 2012. I recommend that you confirm that is true with the San Jose Building Department, and that this is not just a property that was refurbished on the surface, and just had some square footage added to it.
Charles Butterfield MBA
Real Estate Broker/REALTOR
Cell Phone: (408)509-6218
Email Address: firstname.lastname@example.org