Segovia Way is in an area of mostly long-time owners and low turnover – people love the area! It makes it harder on buyers though because the comps are few and far between.
I mention in this video tour (with special guest!) that the house is worth $800,000, and the double-sized lot is worth a premium – I say 10%:
Here are my comps that suggest the house alone is worth $800,000:
The last model-match closed for $795,000 and went pending the first week of January, 2017 – two-and-a-half years ago. The San Diego Case-Shiller Index has gone up 10% since:
The last model-match sale was actually this house, but they had added a fourth bedroom without permits. It has the same formica kitchen and dirt backyard, but backed to a very busy six-lane Rancho Santa Fe Rd.
This larger 3br needed work (though everyone should have a toilet near their bed) and was on the main feeder street for the neighborhood – it closed six months ago for $833,000:
This was in original condition and had an old pool that took up most of the backyard. They had multiple offers, and it closed for $850,000 a month ago:
If the house at 3022 Segovia Way is valued around $800,000 in its current condition, how much is the premium for a double-sized lot? Five to ten percent should be reasonable.
Want to compare the other homes currently for sale?
A. Older kitchen, pool takes up most of the backyard. Listed for $925,000:
B. Slightly older look; pool takes up most of the backyard. Listed for $975,000:
C. Larger 3br nearby with pool. On the range $999,000 – $1,099,000:
My listing is the classic case of buyers expecting a discount just because the house is older – but every house is older in this neighborhood! Richard and I will be there 12-3pm this weekend!