Opportunity

 I started thinking about this post, and quite naturally Elvis Costello came to mind! Thus…a musical accompaniment. Just click that little button below and enjoy!

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There are, in fact, opportunities right now in Foster City. Interestingly, most are in the range under $1mil. The market seems to have reached the stage where buyers have a clear choice between well priced homes…and homes that will, most likely, be on the market for a long, long time. 19 of the 31 active single family homes on the market today in Foster City have experienced price reductions during their listing life. Since Foster City is a planned community it’s often relatively simple to compare properties since there are so many similar floorplans all over town. Here’s a sample of some places that I think are good opportunities:

1387 Tarpon listed for $969,000 by Mary Bee of Re/Max Today. This is a great house in really good condition and it’s listed for $126,000 less than a very similar house with the same floorplan listed elsewhere in town. It’s clean has got 4 bedrooms and it’s location is good too. Here’s some pics:

TarponPics

842 Grenada listed for $958,000 by Susan Lindstrom of Elite Properties. This 3 bedroom Plum Isle place is in terrific shape and this location is a really good one. It’s come down $40,000. There’s a waterfront listed down the street for $1,948,888…Susan’s listing seems like a pretty good deal in light of that. Here’s some pics:

GrenadaPics

1260 Ribbon listed for $915,000 by Jim Minkey (who?!!). A good opportunity is a good opportunity, OK? Seriously, this is a great buy on a 5 bedroom house especially when comparing it to another house with the same floorplan listed elsewhere for $143,000 more…and it needs more work. That’s Ribbon in the photo on top. It, too, is clean freshly painted and ready to go. Here’s the pics:

RibbonPics

It’s going to be an interesting end to 2008. There’s some buyers that should do very well.

 

Comments

  1. Interesting indeed that people still consider that a home in the 900k+ range is considered an “opportunity”… in Foster City where the median income is what? ~120k??

  2. Jim Minkey says:

    Look at it this way AR, there’s 30,000 or so people who live in Foster City. There’s 30 single family houses on the market. Wouldn’t it be a safe bet that there’s a bit more than 30 people who make a combined household income of more than $120,000? Now compare Foster City’s inventory under 900k to San Mateo, Belmont of San Carlos…you’ll be looking at alot of much smaller houses. Homes in Foster City have greater value than our neighbors. A 5 bedroom house for 900k does seem like an opportunity to me by comparison.

  3. what does the red mean? are those pending?

  4. Jim Minkey says:

    Not sure I know what you mean Goff. What “red”?

  5. some of the writing is in read on your listings

  6. Jim Minkey says:

    I’m thinking you mean the red lines on the charts? Yes, those are pending sales. Thanks Goff

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