We've got word back now from the readership, and it's good news/bad news for the builder/sellers of 815 2nd, a new Cape Cod in the Hill Section.
The good news: A third of voters in the poll (34%) think it's now priced within 10% of its likely final sale price or, in other words, its market value. Given that our…
We've got word back now from the readership, and it's good news/bad news for the builder/sellers of 815 2nd
, a new Cape Cod in the Hill Section.The good news:
A third of voters in the poll (34%) think it's now priced within 10% of its likely final sale price or, in other words, its market value. Given that our polls run to the bearish side, that's still a good vote of confidence.More good news:
A solid majority (61%) think it's now priced within 15% of its market value.Bad news:
Very few (12%) think $4.5m or so is the right price.
The largest response, a healthy 37% plurality, thinks this one goes between $3.75m-$4.0m
, which would mean the start price of $4.795m
was high by nearly $1m.
Still, if a sale closes in that range, you have to imagine that the builder still clears a tidy profit. The lot was purchased for $1.8m
near the peak in Sept. 2006 – a warning sign. But if the costs of construction came out below $2m ($439/PSF), this one's likely to be in the black, and that's more than we can say for the newbies lingering and selling in the Tree Section these days.
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Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of May 30th, 2023 at 10:16am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.