One is 2200 sq the other 2400 sq., that tract has gone down 20-50k in the last ninety days, a nicer model match was 489k just 60 days ago (went foreclosure)and the comps support 450k, but one is now for rent at 1650 so it still doesn’t support investment numbers. Probably 10-20% of the ones in that little four street are for sale and in months, I don’t know of one sale. They are the smallest and have the smallest lots of the four development gated subcommunity built by the same builder.
Woodside just released 2200 sq ft homes at 350-370k 1.5 miles away with in Wolf. I wouldn’t be so skeptical of your landlord, he’s going for convenience, the sure thing and trying to avoid the bad press of the dissapointing spring/summer sales without taking any chances he gets out intact, he had to make it a win for you to make it happen. Sounds like he is probably more informed than the average seller who is basing their price on what they need to sell for and quickly seeing neighbors list for less, chasing the rabbit down the hole. In a crude analogy, it’s getting close to closing time, very few women are left in the bar, rather than go for the best looking one remaining, drop to the third best looking and avoid ending up alone or with the ugliest. Bar strategy can almost always be applied to life.
He knows what is happening, he knows he can list for 430 but it wont sell, he could list for 400 but will probably get lowballed and pay realtors. Why would anyone pay even 400 when they can get more sq ft for less in a comparable area like redhawk. He probably knows this and he is giving you a fair deal but you’ve said before it is smaller than what you really want and you shouldn’t buy temporary housing in this market, get what you want even if it means waiting.
