anything wrong with this property on Benavente St. in PQ?

[Scarlett]

I went today to this open house:
http://www.sdlookup.com/MLS-100014782-9668_Benavente_St_San_Diego_CA_92129

I kind of liked it. Pretty large, private yard, lots of kitchen cabinets, large master. Not that many upgrades, and a good part of the lot is sloped. BUT, knowing the market in PQ how it has been, I wonder why this one is still on the market – for 3 months, and they’ve already reduced the price to 55OK, which seems a relatively ‘reasonable’ LP for the current market. So I wonder if anything is wrong with it? I am kind of thinking to put a lowball offer on it. Maybe I am not seeing something.
Edit: Maybe the price is not as reasonable; I see that SDL lists similar closings nearby at or under 500K.

What do you think?
All comments are very appreciated! Thanks!

[Waiting to feel the magic]

Personally I think that the price needs to be under $500k. Here’s my reasoning:

A few minutes on Redfin shows three nearby sales between 1750 and 2250 sf in the last six months:

– 9712 Paseo Montril, $460k, $224/sf, 4/2.5, short sale, pool, bigger lot, looks nice inside

– 12716 Cijon, $465k, $225/sf, 4/2.5, lot was OK but nothing special, pretty plain inside, went pending in a few days and closed in a month

– 12707 Cijon, $500k, $266/sf, 3/2.5, clean inside with mostly white walls, lot had some views in the back, went pending in 7 days and closed in a month

The house in question is 4/2.5 on a corner lot, no views, no pool, nice but very fussy inside. I’m guessing 12707 Cijon got a premium for the view. It’s not a great view, but it’s something. The other two comps establish a $225/sf price point which would put this house at about $482k. It’s got nothing to move it up from that price like a big lot, a view, etc.

Very important: both of the equity sale comps went pending in a couple of days. Clearly buyers saw value.

For the house in question, the original price of $599k was crazy high (sorry if the owners are reading this). The $550k price ($257/sf) is still too high compared to the comps. Also add in that things have slowed down some, it’s competing with more and more inventory, and that the listing is stale.

And the market is clearly saying all of this based on the 109 days that it’s been on the market. Buyers are not seeing the value and taking a pass.

Those are my thoughts. Again, sorry if I offended anyone.

[Waiting to feel the magic]

Personally I think that the price needs to be under $500k. Here’s my reasoning:

A few minutes on Redfin shows three nearby sales between 1750 and 2250 sf in the last six months:

– 9712 Paseo Montril, $460k, $224/sf, 4/2.5, short sale, pool, bigger lot, looks nice inside

– 12716 Cijon, $465k, $225/sf, 4/2.5, lot was OK but nothing special, pretty plain inside, went pending in a few days and closed in a month

– 12707 Cijon, $500k, $266/sf, 3/2.5, clean inside with mostly white walls, lot had some views in the back, went pending in 7 days and closed in a month

The house in question is 4/2.5 on a corner lot, no views, no pool, nice but very fussy inside. I’m guessing 12707 Cijon got a premium for the view. It’s not a great view, but it’s something. The other two comps establish a $225/sf price point which would put this house at about $482k. It’s got nothing to move it up from that price like a big lot, a view, etc.

Very important: both of the equity sale comps went pending in a couple of days. Clearly buyers saw value.

For the house in question, the original price of $599k was crazy high (sorry if the owners are reading this). The $550k price ($257/sf) is still too high compared to the comps. Also add in that things have slowed down some, it’s competing with more and more inventory, and that the listing is stale.

And the market is clearly saying all of this based on the 109 days that it’s been on the market. Buyers are not seeing the value and taking a pass.

Those are my thoughts. Again, sorry if I offended anyone.

[Waiting to feel the magic]

Personally I think that the price needs to be under $500k. Here’s my reasoning:

A few minutes on Redfin shows three nearby sales between 1750 and 2250 sf in the last six months:

– 9712 Paseo Montril, $460k, $224/sf, 4/2.5, short sale, pool, bigger lot, looks nice inside

– 12716 Cijon, $465k, $225/sf, 4/2.5, lot was OK but nothing special, pretty plain inside, went pending in a few days and closed in a month

– 12707 Cijon, $500k, $266/sf, 3/2.5, clean inside with mostly white walls, lot had some views in the back, went pending in 7 days and closed in a month

The house in question is 4/2.5 on a corner lot, no views, no pool, nice but very fussy inside. I’m guessing 12707 Cijon got a premium for the view. It’s not a great view, but it’s something. The other two comps establish a $225/sf price point which would put this house at about $482k. It’s got nothing to move it up from that price like a big lot, a view, etc.

Very important: both of the equity sale comps went pending in a couple of days. Clearly buyers saw value.

For the house in question, the original price of $599k was crazy high (sorry if the owners are reading this). The $550k price ($257/sf) is still too high compared to the comps. Also add in that things have slowed down some, it’s competing with more and more inventory, and that the listing is stale.

And the market is clearly saying all of this based on the 109 days that it’s been on the market. Buyers are not seeing the value and taking a pass.

Those are my thoughts. Again, sorry if I offended anyone.

[Waiting to feel the magic]

Personally I think that the price needs to be under $500k. Here’s my reasoning:

A few minutes on Redfin shows three nearby sales between 1750 and 2250 sf in the last six months:

– 9712 Paseo Montril, $460k, $224/sf, 4/2.5, short sale, pool, bigger lot, looks nice inside

– 12716 Cijon, $465k, $225/sf, 4/2.5, lot was OK but nothing special, pretty plain inside, went pending in a few days and closed in a month

– 12707 Cijon, $500k, $266/sf, 3/2.5, clean inside with mostly white walls, lot had some views in the back, went pending in 7 days and closed in a month

The house in question is 4/2.5 on a corner lot, no views, no pool, nice but very fussy inside. I’m guessing 12707 Cijon got a premium for the view. It’s not a great view, but it’s something. The other two comps establish a $225/sf price point which would put this house at about $482k. It’s got nothing to move it up from that price like a big lot, a view, etc.

Very important: both of the equity sale comps went pending in a couple of days. Clearly buyers saw value.

For the house in question, the original price of $599k was crazy high (sorry if the owners are reading this). The $550k price ($257/sf) is still too high compared to the comps. Also add in that things have slowed down some, it’s competing with more and more inventory, and that the listing is stale.

And the market is clearly saying all of this based on the 109 days that it’s been on the market. Buyers are not seeing the value and taking a pass.

Those are my thoughts. Again, sorry if I offended anyone.

[Waiting to feel the magic]

Personally I think that the price needs to be under $500k. Here’s my reasoning:

A few minutes on Redfin shows three nearby sales between 1750 and 2250 sf in the last six months:

– 9712 Paseo Montril, $460k, $224/sf, 4/2.5, short sale, pool, bigger lot, looks nice inside

– 12716 Cijon, $465k, $225/sf, 4/2.5, lot was OK but nothing special, pretty plain inside, went pending in a few days and closed in a month

– 12707 Cijon, $500k, $266/sf, 3/2.5, clean inside with mostly white walls, lot had some views in the back, went pending in 7 days and closed in a month

The house in question is 4/2.5 on a corner lot, no views, no pool, nice but very fussy inside. I’m guessing 12707 Cijon got a premium for the view. It’s not a great view, but it’s something. The other two comps establish a $225/sf price point which would put this house at about $482k. It’s got nothing to move it up from that price like a big lot, a view, etc.

Very important: both of the equity sale comps went pending in a couple of days. Clearly buyers saw value.

For the house in question, the original price of $599k was crazy high (sorry if the owners are reading this). The $550k price ($257/sf) is still too high compared to the comps. Also add in that things have slowed down some, it’s competing with more and more inventory, and that the listing is stale.

And the market is clearly saying all of this based on the 109 days that it’s been on the market. Buyers are not seeing the value and taking a pass.

Those are my thoughts. Again, sorry if I offended anyone.

[SD Realtor]

Hard to say Scarlett because I have not been in the home. At 550k pricing still looks high to me. I toss out Montril as a comp because anyone that knows PQ knows the noise from the freeway for Montril homes. Correct me if I am wrong but this home is on the hillside not the freeway side correct? Downside is a small yard but upside should be less freeway noise. I am not thrilled with this part of PQ although if you go down to La Tortola there is a neat little cul de sac (La Tortola Place) that is nestled in there that I like.

As always though market determines price and if buyers are passing on this one at 550k then that is an indicator that you should as well or wait awhile and lowball it. Will it get under 500k? One never knows! It might.

[SD Realtor]

Hard to say Scarlett because I have not been in the home. At 550k pricing still looks high to me. I toss out Montril as a comp because anyone that knows PQ knows the noise from the freeway for Montril homes. Correct me if I am wrong but this home is on the hillside not the freeway side correct? Downside is a small yard but upside should be less freeway noise. I am not thrilled with this part of PQ although if you go down to La Tortola there is a neat little cul de sac (La Tortola Place) that is nestled in there that I like.

As always though market determines price and if buyers are passing on this one at 550k then that is an indicator that you should as well or wait awhile and lowball it. Will it get under 500k? One never knows! It might.

[SD Realtor]

Hard to say Scarlett because I have not been in the home. At 550k pricing still looks high to me. I toss out Montril as a comp because anyone that knows PQ knows the noise from the freeway for Montril homes. Correct me if I am wrong but this home is on the hillside not the freeway side correct? Downside is a small yard but upside should be less freeway noise. I am not thrilled with this part of PQ although if you go down to La Tortola there is a neat little cul de sac (La Tortola Place) that is nestled in there that I like.

As always though market determines price and if buyers are passing on this one at 550k then that is an indicator that you should as well or wait awhile and lowball it. Will it get under 500k? One never knows! It might.

[SD Realtor]

Hard to say Scarlett because I have not been in the home. At 550k pricing still looks high to me. I toss out Montril as a comp because anyone that knows PQ knows the noise from the freeway for Montril homes. Correct me if I am wrong but this home is on the hillside not the freeway side correct? Downside is a small yard but upside should be less freeway noise. I am not thrilled with this part of PQ although if you go down to La Tortola there is a neat little cul de sac (La Tortola Place) that is nestled in there that I like.

As always though market determines price and if buyers are passing on this one at 550k then that is an indicator that you should as well or wait awhile and lowball it. Will it get under 500k? One never knows! It might.

[SD Realtor]

Hard to say Scarlett because I have not been in the home. At 550k pricing still looks high to me. I toss out Montril as a comp because anyone that knows PQ knows the noise from the freeway for Montril homes. Correct me if I am wrong but this home is on the hillside not the freeway side correct? Downside is a small yard but upside should be less freeway noise. I am not thrilled with this part of PQ although if you go down to La Tortola there is a neat little cul de sac (La Tortola Place) that is nestled in there that I like.

As always though market determines price and if buyers are passing on this one at 550k then that is an indicator that you should as well or wait awhile and lowball it. Will it get under 500k? One never knows! It might.

[Waiting to feel the magic]

Good catch on the Montril comp regarding the freeway. Yes, the Montril comp is on the non-freeway side. Noise level does make a difference, so you’d have to go check it out yourself.

[Waiting to feel the magic]

Good catch on the Montril comp regarding the freeway. Yes, the Montril comp is on the non-freeway side. Noise level does make a difference, so you’d have to go check it out yourself.

[Waiting to feel the magic]

Good catch on the Montril comp regarding the freeway. Yes, the Montril comp is on the non-freeway side. Noise level does make a difference, so you’d have to go check it out yourself.

[Waiting to feel the magic]

Good catch on the Montril comp regarding the freeway. Yes, the Montril comp is on the non-freeway side. Noise level does make a difference, so you’d have to go check it out yourself.

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