Nice jab Bugs! But what I and most experienced agents use is not a standard of a willing buyer/willing seller but rather a willing AND ABLE buyer / willing AND ABLE seller.
Gotta run to take the kiddies to the waterpark but I’ll have more on the “able” portion later.
SD R, my reference to the Arbusto property was not a dig at the price your buy paid but rather a comparison to help show that if a 30 yr old 1900 sq ft 4/2/2 car property in 92009 was worth 730K, than surely a 5BR/3ba/3 car that is 10+ years newer in 92130 should be worth a heckuva lot more than 800K. BTW, I saw/showed the property several times including when it was a FSBO. It was the unmotivated seller dictating the price not the agents. My clients didnt make an offeer on it because even though it had a very nice kitchen remodel, the secondary BR’s were tiny, the built-ins were overdone in the FR, it had no yard which is a major draw for Rancho Ponderosa (most have 8K to 10K lots) was very substandard even more so with the pool they shoe horned into it. Hopefully they put that nice rebate into an account to address the fireplace issue they have a very good chance of running into in the next several years which would cost about $25,000 to replace.
Regarding the use of the 20% bigger home. Both are 5BR/3BA/3car homes. There are alot of buyers that only want 5BR’s or 4BR+office. I would never look at anything less myself. SO it comes down to what is an extra 500 sq ft spread around a home worth, at $100/sf thats 50K and at 200/sf thats 100K. I cant see it being worth anymore than that.
