Deal or No Deal RESULTS: San Diego in San Ramon
Tuesday, August 11th, 2009Cirios Verdict: NO DEAL (Click here for the original Deal or No Deal post)
The subject is a well-maintained home on a cul-de-sac in San Ramon. The property is on a decent sized lot with a patio and a gazebo. The kitchen looks like it has been updated over the last few years. The broker does not provide any pictures of the bedrooms which is concerning because the house is on the small side. Also, the only bathroom pictured only has a bath tub.
San Ramon is an upper middle class suburban neighborhood in the East Bay. The schools are well above average and pride of ownership is very high. Values have been falling as the area was out of reach for most middle class buyers during the boom. As home values fall at our below FHA loan limits, we expect values to begin to stabilize.
Positives: Good location, desirable area.
Negatives: Somewhat smaller home and no photos of bedrooms, could be small.
Verdict: NO DEAL
The subject immediate neighborhood has very few properties listed which only increases the desirability of the home. S2 is the most comparable and relevant property to this analysis and we expect the subject to sell for close to the same level.
While a desirable home, we do believe it is a little over-listed.
Address: 470 San Diego Pl., San Ramon, CA 94583
List Date: 7/27/09
Current List Price: $649,000
Cirios Value: $630,000
List Price vs. Cirios Value: 2.9% over-listed
For a complete Cirios Valuation, click here for our CLEAR report, or on the image to the right.
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