[IHB] Same Floorplan, Same Village, Very Different Price

The is the classic example that the Unicorn city does not benefit all sellers. These detached condos are no longer being built and there is no new home benchmark pricing to save the declining value ratio. The tabulation from one San Simeon neighborhood is a great way to track the value by comparing apples to apples. This should teach all of us a lesson to never to buy any home far from the standard set up. Homes oriented to a motor court will not hold value like the standard single family home where the driveway crosses over the sidewalk.
 
interesting that both are listed by same agent.  i wonder how much input he provides the sellers on how they should price and if the sellers know about the other exactly same listings?

not that it is worth $60K but you are getting a living room fireplace and an island.  we personally dont care for the fireplace but do value the island.  if it costs $10K to set up similar island, then thats what i figure the difference in price should be. 

CZ - are you sure that the secondary bedrooms are big as the masters of the stonegate houses?  assume you are thinking of san marcos and not maricopa...
 
RKP- yes, more in line with houses with the same sf area. Capistrano- the secondary bedrooms are so small, you have to ask the teen child to curl up and sleep.. Master had a queen bed + dresser + accent chair (small one). San Simeon houses in North Park easily fit a queen with a dresser and accent chair.

Fireplaces are romantic, but the placement also matters. I don't like it in the Modesto house..
Last week an agent had listed two houses in the same neighborhood and he had put the same pictures.. I think I posted the link somewhere in this section.
 
http://www.garyfallis.com/img/floorplans/npfp/sansimeon_p3.jpg

Comparing to San Mateo/Sienna plan 1 and plan 2 which have similar square footage:

plus:
1 extra living area downstairs
larger secondary bathrooms
front door on the side, less chance for toddlers to be run over by cars driving on the motor court
extra storage in the garage

minus:
laundry in the garage
single sink in secondary bathroom
smaller "Great" room
smaller kitchen with less counter space
no side door between garage and yard
no windows for secondary bathroom and powder (Asians like fresh air for the bathrooms)


As for the $60k difference, the seller that is asking for the higher price is on some kind of drug. The fireplace is on the same and only wall logically to put a TV on - this is a BIG negative so he should price $60k lower instead. The island does not make any difference because you can easily buy a mobile one.
 
the double posting was a builder and they were just showing pics of the model for the 2 units.  in this case, gary is representing 2 sellers with almost identical properties with very different prices.  if a buyer comes to the higher priced one and wants it but for a discount of $20K, does gary present the offer to the seller or steer them to the other property?
 
The island does not make any difference because you can easily buy a mobile one.

maybe to you but i think it makes the kitchen much more functional and creates a nice divide between the kitchen & the dining table.  mobile unit is different and isnt the same.  i think many people value islands...they are very popular in all the new builds and i imagine most people would pay a small premium for them.  not $60K but something reasonable
 
Gary Fallis of Northpark is a good friend of the San Simeon plan 3 owner on Modesto. He is using the high price as a shill to sell the lower priced identical plan 3 home on Meadow Valley. This trick has worked many times before.

rkp said:
the double posting was a builder and they were just showing pics of the model for the 2 units.  in this case, gary is representing 2 sellers with almost identical properties with very different prices.  if a buyer comes to the higher priced one and wants it but for a discount of $20K, does gary present the offer to the seller or steer them to the other property?
 
The buyer realtor would show both houses to the client anyway.
Assuming even after looking at both the houses, the client wants to pay 40k for the Island and Fireplace, Gary will take the offer to the seller. He will try to sell the higher priced one first. That way he has a better comp for his lower priced one. He can ask the owner to jack up the price a bit :) More commission to Gary. Good news for North Park stats.
 
irvinehomeshopper said:
Gary Fallis of Northpark is a good friend of the San Simeon plan 3 owner on Modesto. He is using the high price as a shill to sell the lower priced identical plan 3 home on Meadow Valley. This trick has worked many times before.

how the heck do you know this stuff?  thats an interesting strategy...
 
rkp said:
irvinehomeshopper said:
Gary Fallis of Northpark is a good friend of the San Simeon plan 3 owner on Modesto. He is using the high price as a shill to sell the lower priced identical plan 3 home on Meadow Valley. This trick has worked many times before.

how the heck do you know this stuff?  thats an interesting strategy...

I was wondering too... is there anything IHS doesn't know?
 
Cubic Zirconia said:
rkp said:
irvinehomeshopper said:
Gary Fallis of Northpark is a good friend of the San Simeon plan 3 owner on Modesto. He is using the high price as a shill to sell the lower priced identical plan 3 home on Meadow Valley. This trick has worked many times before.

how the heck do you know this stuff?  thats an interesting strategy...

I was wondering too... is there anything IHS doesn't know?
He doesn't know how to speak Polish.  haha
 
ihs speaks several languages - Chinese, English, French, Vietnamese and BS

Cubic Zirconia said:
rkp said:
irvinehomeshopper said:
Gary Fallis of Northpark is a good friend of the San Simeon plan 3 owner on Modesto. He is using the high price as a shill to sell the lower priced identical plan 3 home on Meadow Valley. This trick has worked many times before.

how the heck do you know this stuff?  thats an interesting strategy...

I was wondering too... is there anything IHS doesn't know?
 
Yes, I do not why would people want to live behind the 7th largest trash dump in America.

Cubic Zirconia said:
rkp said:
irvinehomeshopper said:
Gary Fallis of Northpark is a good friend of the San Simeon plan 3 owner on Modesto. He is using the high price as a shill to sell the lower priced identical plan 3 home on Meadow Valley. This trick has worked many times before.

how the heck do you know this stuff?  thats an interesting strategy...

I was wondering too... is there anything IHS doesn't know?
 
Don't forget Greek and Russian.

The Motor Court Company said:
ihs speaks several languages - Chinese, English, French, Vietnamese and BS

Cubic Zirconia said:
rkp said:
irvinehomeshopper said:
Gary Fallis of Northpark is a good friend of the San Simeon plan 3 owner on Modesto. He is using the high price as a shill to sell the lower priced identical plan 3 home on Meadow Valley. This trick has worked many times before.

how the heck do you know this stuff?  thats an interesting strategy...

I was wondering too... is there anything IHS doesn't know?
 
IHS is one of the few people on this board who actually understands real estate from a perspective that doesn't involve fantasies, emotion, and unicorns.
 
Sorry, speaking polish has no financial advantages or prospect.

USCTrojanCPA said:
Cubic Zirconia said:
rkp said:
irvinehomeshopper said:
Gary Fallis of Northpark is a good friend of the San Simeon plan 3 owner on Modesto. He is using the high price as a shill to sell the lower priced identical plan 3 home on Meadow Valley. This trick has worked many times before.

how the heck do you know this stuff?  thats an interesting strategy...

I was wondering too... is there anything IHS doesn't know?
He doesn't know how to speak Polish.  haha
 
The Motor Court Company said:
ihs speaks several languages - Chinese, English, French, Vietnamese and BS

Hey, I did not realize BS is a language!  I guess I am trilingual...  :p
 
USCTrojanCPA said:
Cubic Zirconia said:
rkp said:
irvinehomeshopper said:
Gary Fallis of Northpark is a good friend of the San Simeon plan 3 owner on Modesto. He is using the high price as a shill to sell the lower priced identical plan 3 home on Meadow Valley. This trick has worked many times before.

how the heck do you know this stuff?  thats an interesting strategy...

I was wondering too... is there anything IHS doesn't know?
He doesn't know how to speak Polish.  haha

Teach us a word in Polish! I like to learn bits and pieces of exotic languages.
 
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