[quote=AN]
Those are not even close to the same league. If you know MM, you’ll know they’re not. Let me break it down.
Embry – small, old, not-updated. Original house was ~1200 sq-ft and they added a 300 sq-ft family room. If the Banister house and its direct comp sell for $300k, I expect this house to sell in the low to mid $200k.
Flanders – Have you driven on Flanders? You DO NOT want to be on that street. That alone would be a good reason why it sold at the price it did. Look at its 2003 sold price. You’ll see that because of its location, the discount has always been there. Again, if the Banister like property sell for $300k, I wouldn’t touch this one unless it’s in the low to mid $200k.
Goleta – Same explanation as Embry. I would expect this house to sell in the low to mid $200k as well, if houses like Banister sell for $300k.[/quote]
AN, thanks for the break down. Got to admit that I am no MM expert ( what’s up with the “insider joke” ? )
So, your point is these above are overpriced at least by 20-30%? If this is the case, would you agree that the house in OP post is somewhat overprice?
btw, it’s not 10% +/- lost, don’t forget 6% commission + other cost.
