Hi Everyone,
I am trying to determine the fair market value of this home:
http://www.redfin.com/CA/Irvine/1-Primavera-92614/home/4659917
Although a desirable property, this listing has been on the market for 80 days already, with a current price of $754,500 ($395/sqft). It doesn't help that the house next door, a bigger and more upgraded property, recently sold for only $750,000 ($350/sqft) back on 3/31:
http://www.redfin.com/CA/Irvine/3-Primavera-92614/home/4659900
Nearby similar sales the past 6 months have also averaged only $366/sqft.
The owner seemingly thinks that the big backyard (one of the largest in Westpark) carries a premium, thus justifying the premium price. Does the extra large backyard here justify the additional cost per square foot?
Any feedback from the knowledgeable community here would be greatly appreciated. Thanks!
- Randy
I am trying to determine the fair market value of this home:
http://www.redfin.com/CA/Irvine/1-Primavera-92614/home/4659917
Although a desirable property, this listing has been on the market for 80 days already, with a current price of $754,500 ($395/sqft). It doesn't help that the house next door, a bigger and more upgraded property, recently sold for only $750,000 ($350/sqft) back on 3/31:
http://www.redfin.com/CA/Irvine/3-Primavera-92614/home/4659900
Nearby similar sales the past 6 months have also averaged only $366/sqft.
The owner seemingly thinks that the big backyard (one of the largest in Westpark) carries a premium, thus justifying the premium price. Does the extra large backyard here justify the additional cost per square foot?
Any feedback from the knowledgeable community here would be greatly appreciated. Thanks!
- Randy