Price Estimates - Menlo Park edition


#41

In 1989 I paid the highest price ever for a 8300sf lot in West Menlo.$500k…johnson is prime but it ain’t PA…
It comes down to how big…Basement makes it 3 stories…could go for $10m if 6000sf…But for $10m wouldn’t you rather live in PA?


#42

For 10M, i would live in MP, but not on valparaiso for sure. A lot of noise there. I would live on Orange, Sherman etc maybe. I am a MP person, not seeing the appeal of PA yet, but i acknowledge that’s not a common viewpoint :slight_smile:


#43

For reference, this is about half the lot size, on sale for 5.2M. I’d cost less to buy johnson + build 5Ksqft home.


#44

Also:

This still didn’t sell, the other home on the same street (listed at 2.9 ish) sold. Curious if this one will sell - it’s larger home too.


#45

Curious if this one will sell ==> Hmmmm, you must understand the dynamics of sale, esp at seller’s market.

If good homes (and attractive) are not pending, after two or four open houses, this means they have got enough offers and multiple rounds of negotiations going on before finalization.

The only way to find out is ask your realtor to talk to Listing agent whether you can submit an offer. If the listing agent says “offer timeline over”, then you can assume “multiple rounds of negotiations going on”.


#46

1868 will sell. The market likes what this builder produces.

I’d guess that the fully loaded cost of a 5k sqft highend spec home is more than 1.95M. If you are doing this for the first time, it’s going to cost you a lot more!

Just confirmed from someone that wrapped up a highend 5k sqft home that it went above the 2M (listed value on the permit) starting point as expected. This was their largest and 3rd project.


#47

Price drop in menlo park:


#48

Looks like next to high speed road


#49

yeah valparaiso is very noisy.


#50

When properties with flaws are treated accordingly, I assume the market is rational. Much ado about nothing.

378 Felton mentioned on another thread closed at 2.9M above initial ask after a price cut. I’ve seen this happen a few times.


#51


Goes pending.