A lot of homes released by a developer that sold from 500K to 600K in 92129 and 92127 zip code in around 2002 and 2003 are now on market for sale. Currently, sellers are asking between low 800K to 1M.
Could you advise me what could be a FMV for those. I just want to know a ball park figure.
In 4 to 5 years later, they gained 300K to 400K on paper, but is it truly so? If I offer mid 600K to low 700K to a seller, am I simply stupid? If I go 4S Ranch or even Del Sur, I could buy a nice band new home from high 600K to mid 700K.
I really do not understand why so many million dollar houses (based on their asking price) are around my neighbor, but they do not look like worth even 600K at all.
