1500 sq-ft house in MM just sold for $500k, did I miss the memo?

[sdrealtor]

It absolutely is different but I’m not saying its a reasonable price. I’m just saying that its different from YOUR house in that someone will dramatically overpay for something like that which doesnt mean they will for yours also.

BTW, 1 story homes live bigger than 2 story homes because they have less wasted space for hallways and stairs. A good rule of thumb is to add 15 to 20% to the sq ft of the 1 story when comparing to a 2 story. For example, if I couldnt find comps for a 1500 1 story I would use 1800 to 1900 sq ft comps on a 2 story.

[an]

[quote=sdrealtor]It absolutely is different but I’m not saying its a reasonable price. I’m just saying that its different from YOUR house in that someone will dramatically overpay for something like that which doesnt mean they will for yours also.

BTW, 1 story homes live bigger than 2 story homes because they have less wasted space for hallways and stairs. A good rule of thumb is to add 15 to 20% to the sq ft of the 1 story when comparing to a 2 story. For example, if I couldnt find comps for a 1500 1 story I would use 1800 to 1900 sq ft comps on a 2 story.[/quote]
That’s my whole point, I must have missed the memo. The other one I’ve posted seems to sold at a crazy price as well. I thought MM is heading for 2001 price, not 2004 price. These premium you’re talking about has always been there and will always be there. I totally agree with them as well. I do prefer one story over 2 stories as well. I’ve also noticed people will overpay for move in ready vs fixer too. This house is clean but kitchen is dated. I always thought appraisal will be the final hurdle and I’m surprised that it actually appraised for $500k.

[an]

[quote=sdrealtor]It absolutely is different but I’m not saying its a reasonable price. I’m just saying that its different from YOUR house in that someone will dramatically overpay for something like that which doesnt mean they will for yours also.

BTW, 1 story homes live bigger than 2 story homes because they have less wasted space for hallways and stairs. A good rule of thumb is to add 15 to 20% to the sq ft of the 1 story when comparing to a 2 story. For example, if I couldnt find comps for a 1500 1 story I would use 1800 to 1900 sq ft comps on a 2 story.[/quote]
That’s my whole point, I must have missed the memo. The other one I’ve posted seems to sold at a crazy price as well. I thought MM is heading for 2001 price, not 2004 price. These premium you’re talking about has always been there and will always be there. I totally agree with them as well. I do prefer one story over 2 stories as well. I’ve also noticed people will overpay for move in ready vs fixer too. This house is clean but kitchen is dated. I always thought appraisal will be the final hurdle and I’m surprised that it actually appraised for $500k.

[an]

[quote=sdrealtor]It absolutely is different but I’m not saying its a reasonable price. I’m just saying that its different from YOUR house in that someone will dramatically overpay for something like that which doesnt mean they will for yours also.

BTW, 1 story homes live bigger than 2 story homes because they have less wasted space for hallways and stairs. A good rule of thumb is to add 15 to 20% to the sq ft of the 1 story when comparing to a 2 story. For example, if I couldnt find comps for a 1500 1 story I would use 1800 to 1900 sq ft comps on a 2 story.[/quote]
That’s my whole point, I must have missed the memo. The other one I’ve posted seems to sold at a crazy price as well. I thought MM is heading for 2001 price, not 2004 price. These premium you’re talking about has always been there and will always be there. I totally agree with them as well. I do prefer one story over 2 stories as well. I’ve also noticed people will overpay for move in ready vs fixer too. This house is clean but kitchen is dated. I always thought appraisal will be the final hurdle and I’m surprised that it actually appraised for $500k.

[an]

[quote=sdrealtor]It absolutely is different but I’m not saying its a reasonable price. I’m just saying that its different from YOUR house in that someone will dramatically overpay for something like that which doesnt mean they will for yours also.

BTW, 1 story homes live bigger than 2 story homes because they have less wasted space for hallways and stairs. A good rule of thumb is to add 15 to 20% to the sq ft of the 1 story when comparing to a 2 story. For example, if I couldnt find comps for a 1500 1 story I would use 1800 to 1900 sq ft comps on a 2 story.[/quote]
That’s my whole point, I must have missed the memo. The other one I’ve posted seems to sold at a crazy price as well. I thought MM is heading for 2001 price, not 2004 price. These premium you’re talking about has always been there and will always be there. I totally agree with them as well. I do prefer one story over 2 stories as well. I’ve also noticed people will overpay for move in ready vs fixer too. This house is clean but kitchen is dated. I always thought appraisal will be the final hurdle and I’m surprised that it actually appraised for $500k.

[an]

[quote=sdrealtor]It absolutely is different but I’m not saying its a reasonable price. I’m just saying that its different from YOUR house in that someone will dramatically overpay for something like that which doesnt mean they will for yours also.

BTW, 1 story homes live bigger than 2 story homes because they have less wasted space for hallways and stairs. A good rule of thumb is to add 15 to 20% to the sq ft of the 1 story when comparing to a 2 story. For example, if I couldnt find comps for a 1500 1 story I would use 1800 to 1900 sq ft comps on a 2 story.[/quote]
That’s my whole point, I must have missed the memo. The other one I’ve posted seems to sold at a crazy price as well. I thought MM is heading for 2001 price, not 2004 price. These premium you’re talking about has always been there and will always be there. I totally agree with them as well. I do prefer one story over 2 stories as well. I’ve also noticed people will overpay for move in ready vs fixer too. This house is clean but kitchen is dated. I always thought appraisal will be the final hurdle and I’m surprised that it actually appraised for $500k.

[PadreBrian]

Nice canyon view…but yeah a lil on the high side for MM…one positive thing is that it has ZERO mela roos.

[PadreBrian]

Nice canyon view…but yeah a lil on the high side for MM…one positive thing is that it has ZERO mela roos.

[PadreBrian]

Nice canyon view…but yeah a lil on the high side for MM…one positive thing is that it has ZERO mela roos.

[PadreBrian]

Nice canyon view…but yeah a lil on the high side for MM…one positive thing is that it has ZERO mela roos.

[PadreBrian]

Nice canyon view…but yeah a lil on the high side for MM…one positive thing is that it has ZERO mela roos.

[Sandiagon]

Lot size is quite big (almost half acre). I believe land value may be important factor for this house. You cannot calculate per square feet for this house because of the bigger lot.

[Sandiagon]

Lot size is quite big (almost half acre). I believe land value may be important factor for this house. You cannot calculate per square feet for this house because of the bigger lot.

[Sandiagon]

Lot size is quite big (almost half acre). I believe land value may be important factor for this house. You cannot calculate per square feet for this house because of the bigger lot.

[Sandiagon]

Lot size is quite big (almost half acre). I believe land value may be important factor for this house. You cannot calculate per square feet for this house because of the bigger lot.

[Author]

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