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Look at this: What is next and what to be expected

 
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Guest
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PostPosted: Fri Jul 25, 2008 1:28 pm GMT    Post subject: Look at this: What is next and what to be expected Reply with quote
Came across this house in Natick-- Purchased in the fall of 2006 for 430k.. They are looking to sell today for 410k. No updates since 76-- so just with case shiller that hous should be worth at most 380k...

5 Cheryl Rd Natick MA 01760 3 beds, 1.5 baths, 1,868 sq ft

Close For Sale: $410,000 See listing website
Bought in 10/31/2006 for 430,000

Home Description FINAL PRICE REDUCTION DUE TO RELOCATION. All reasonable offers over list price will be considered... Desirably located multi level at end of quiet cul-de-sac. FP in living rm w/ cathedral ceilings. An open formal dining area. 1st floor family rm leads to patio. Hardwood floors in bedrooms. Playroom in partially finished basement. NEW Roof! Large level lot ideal for recreation, gardening and entertaining. Great commuter's location. Walking distance to Natick Mall & close to Brown Elementary.


Residence: Single family --
Bedrooms: 3
Bathrooms: 1.5
Sq ft: 1,504 1,868
Lot size: 16,204 sq ft / 0.37 acres 16,204 sq ft / 0.37 acres
Year built: 1950 1950
Year updated: 1967 --

Zillow Home ID: 56296109
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admin
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Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston
PostPosted: Fri Jul 25, 2008 1:52 pm GMT    Post subject: Re: Look at this: What is next and what to be expected Reply with quote
Guest wrote:
All reasonable offers over list price will be considered...


Huh? How could they consider an offer above their asking price to not be reasonable? Hey, maybe they used the Case-Shiller Index like you and will be rejecting people who offer too much.

- admin
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steverino
Guest
PostPosted: Fri Jul 25, 2008 2:11 pm GMT    Post subject: Reply with quote
Where is that cool tool that lets you calculate correct home prices based on C-S data? I lost track of it.
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steverino
Guest
PostPosted: Fri Jul 25, 2008 2:11 pm GMT    Post subject: Reply with quote
Where is that cool tool that lets you calculate correct home prices based on C-S data? I lost track of it.
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admin
Site Admin


Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston
PostPosted: Fri Jul 25, 2008 2:26 pm GMT    Post subject: Reply with quote
steverino wrote:
Where is that cool tool that lets you calculate correct home prices based on C-S data? I lost track of it.


Is this the one you're thinking of?:

http://www.papereconomy.com/Calculator.aspx

Here's the data from the house in question plugged into the calculator:

http://www.papereconomy.com/Calculator.aspx?id=BOXR&date=10/01/2006&price=430000

There's a nice graph at the bottom.

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StallionMang



Joined: 29 Apr 2008
Posts: 54
PostPosted: Mon Jul 28, 2008 4:10 pm GMT    Post subject: Nearby $/SF Reply with quote
For what it's worth-pretty high PSF for nearby house sales (241) according to RedFin.. this one is 219... so maybe it's a posh neighborhood. But something tells me it won't be the FINAL PRICE REDUCTION Smile

Nearby Similar Sales

Closest homes of similar size and type, and sold within the past six months:
$441,000
23 Sherwood Rd
Sold on Feb 21, 2008 0.11 miles
3 bd / 2 ba
1,653 Sq. Ft.
$469,000

13 Barnesdale Rd
Sold on Feb 19, 2008 0.16 miles
3 bd / 2 ba
1,682 Sq. Ft.
$466,000

26 Hampton Rd
Sold on Jan 29, 2008 0.21 miles
4 bd / 2 ba
1,948 Sq. Ft.
$600,000

7 Ridge Ave
Sold on Jun 26, 2008 0.24 miles
4 bd / 2 ba
2,148 Sq. Ft.
$235,000

1 Possum Hollow Rd
Sold on Feb 12, 2008 0.25 miles
4 bd / 4 ba
1,688 Sq. Ft.
Range: $235,000 - $600,000

Average: $241/Sq. Ft.
This home at $241/Sq. Ft.: $449,590
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