[quote=bearishgurl][quote=UCGal] . . . Just on the surface – it appears that $627k was probably a fair price in my non-qualified, non expert opinion… but I’m not sure why you singled me out on whether I was qualified to state whether it was a fair price.[/quote]
Lol, just playing with you, UCGal, because you responded. You could have been living in Dulzura and I would have asked you because you are the Pigg who first responded to my question. Since I “have never been off this freeway exit,” I just feel I am unqualified to state whether $627K was a fair price. H@ll, I don’t even know whether the beach within walking distance of that property is full of litter, rotting grunion or just had new sand trucked in . . . lol! And I don’t want to be accused of pulling sold comps out of a hat in the “wrong subdivision.”
I don’t think bubble prices are comparable to now, but regarding your first link (402 “Parkwood”), I think that may be a good sold comparable at $765K for last year. It is on a 13K+ sf lot (3K sf more) and also has 300 more sf inside, though and was already ready to occupy at the time of sale. So, because it would take about a total of a $690K investment to make pem’s link “as liveable” as the “Parkwood” sold of last year, I would say it was “fair” but not a “killer deal” reimbursement for all the DIY work it would take to get there. If the new buyer hired all the needed work done, they WOULD have $765K (or close) invested in a slightly inferior property to 402 Parkwood. So, IMO, it WAS a good deal for a handy buyer who NEEDED a property in that particular locale.[/quote]
BG,
402 Parkwood (the colonial at the end of the cul-de-sac) had a less useable yard and was not in move-in condition at all. It just benefitted from better photography. Notice the green shag carpeting? Nothing had been done to it in decades. It took a long time to sell that one, too. It also had what even I would call a “functionally obsolete” floorplan without a full bathroom on the bottom floor (IIRC). Around here, at least, the single-story homes carry a premium over two-story homes.