Blogging Broker

Ok… I’m asking myself, what’s the deal?  Is the devil is turning my idle digits into his tools because the market is so slow ? I’m looking over the New Listings on the MLS today and I find myself being hyper-critical of what I see.

For example:

MLS# 309350  –  A 3 bedroom 2/5 bath home 1764 sq. ft. listed today for $349,000.

This is an nice area and I happen to live in this zip code so I know that the turnover of homes in 93711 is relatively low. For comparison, I look at the last 4 homes that have sold with 1/4 mile of this home in the last 6 months and the average list price is $177 per sq. ft. This new listing though is priced at nearly $198 per sq. ft and I can tell you folks, from looking at the pictures, there isn’t anything special about it. I looked at a home of similar size (MLS #295759) that sold for $322,00 and it was REALLY nice,  had dual pane windows and swimming pool. In fact, it was home I previewed one Sunday and mentioned on previous blog.

The listing agent states: “Seller said appraisal appraised for $450,000 a couple of years ago & sq ft approx 2,000 sq ft.”

I say:

WHO CARES WHAT THE HOME APPRAISED FOR A COUPLE OF YEARS AGO?  What is the home worth today? What will it appraise for today? I don’t think there is a chance in hell that this home would appraise for the ask price today.

As for the discrepancy in sq. ft. between the tax records and the what the seller says : where did those extra sq. ft. come from?

And you don’t say “appraisal appraised” together in the same sentence. No wonder we entertained with game shows like ARE YOU SMARTER THAN A FIFTH GRADER?

Don’t get me wrong folks, I want all the homes in my zip code (esp the ones close to mine) to sell for top dollar. I just don’t see it happening here and wonder what the listing agent is thinking. Oh, and apparently, even if you do put an offer in at the list price, its a SHORT SALE subject to bank approval.

Unfortunately, I’m just warming up  This one really takes the cake: MLS#309302

This is a 4 bedroom 3.5 bath -4516 sq. ft.- home at 4478 N College Ave listed for – are you sitting down? – $1,350,000.    YIKES!!!!

What is that agent thinking? I did a CMA and went out an entire mile in every direction from that home and the highest price home I came up with that SOLD was an absolutely beautiful home on 4903 N. Van Ness that went for $725,000.

If I was the listing agent pricing a home like that I would be afraid that someone might go after me for FRAUD! Based upon the numbers if that house fetched the same price per square foot as the one on Van Ness the home would be priced somewhere around $840,00 BUT — and this is a big BUT — the home on Van Ness appears to be much, MUCH nicer than this home in every way. HOW ARE THEY COMING UP WITH THESE NUMBERS??? Is the managing broker actually reviewing the agents listings (like they are supposed to) and APPROVING them?

Alright, enuf said. This is NOT the way to make friends in this business!

Need help buying of selling a home in Fresno? Call me: Lazarus @ 559-301-1647

(Somebody please call me and put me to work so I wont have idle time on my hands for useless blogs like this.)