Haves and Have Nots

We’ve reached that point in the marketplace where the available listings in Foster City, as far as single family houses go, are really a have and have not game. There’s plenty of active buyers out there, but the majority of active listings leave something to be desired. In fact, most of them have significant defects of one kind or another. right next to the 101 sound wall, the big high tention power line in the back yard, house is a mess, house is a mess and is in a terrible location. You get the picture…certainly you get it if you’ve been out there looking at homes lately!

Since this is the 2011 market and not the 2005 market, buyers are understandablyhesitant to jump at a house with some major flaws. Having said that, when a house comes up right now with all, or most, of the right ingredients it goes off like a rocket. Multiple offers insue and the price goes up. It really is a great situation of you’re the owner of a upgraded, gorgeous home. It’s also a great scenario if you’ve planned well, staged your home and it’s in perfect showing condition.

in the last week or so we’ve seen homes like that around here. First of all, the house at 312 Pompano came up listed at $1,179,888 by Carmen Miranda of Alain Pinel. It’s stunning…especially in comparison with like properties around here right now. It got 4 offers and went pending today. I can’t wait to see what it closes for. It will be higher than $1,179,888. Following that gem we then saw the house at 121 Spinnaker listed by Mary Ficklin of Alain Pinel for $998,000. Take a look at that link…$998,000! This same floor plan…in basic fixer upper form sold on Biscayne in October for $1,070,000. To put it mildly and with respect to hyperbole…121 Spinnaker might have been the best deal I’ve ever seen in Foster City. Needless to say…it didn’t last long. It went pending today as well. It’s safe to say it went over asking too.

All this to say that if your a buyer and you want a nicely, redone finished product…get ready to compete for it. A house that looks like these two is going to get multiple offers. At this point, an unfinished product in a good location without major flaws could get multiple offers as well. If your about to sell…plan well and don’t hesitate to spend a little getting the house in top showing condition. It’ll be worth it.

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