12777 Blue Jay Court, listed for $239,000 and a very similar home right next door at 10073 Schroeder Way, Listed for $145,000. What’s up with that!

12777 Blue Jay Court

10073 Schroeder Way

On 5/9/18 I wrote the following about the Blue Jay Court home… The math does not seem to work out.
The lot is a very nice property, but it located in a rather undesirable neighborhood. I estimate the lot is worth $100,000. Assuming the septic system and well are both in good operating condition, add $25,000 to the value. The double carport adds another $10,000. The home and deck, and everything else, maybe $60,000 to $75,000. That is generous. You still only get to $200,000, and yet, it went pending in just a few days at a list price of $239,000. Perhaps the seller saw good offer and took it. What matter is the settlement price, which will be known only after it closes. If it sells for something north of $225,000 then the needle for the price point really has moved up this spring. We will just have to watch this one and see what the actual price a buyer was willing to pay turn out to be.

Then a week later it fell out of escrow, I presume because the buyer figured out they had made a very bad decision about valuation! So, here we are less than 2 weeks later and the house right next door comes on the market, larger lot, nicer home, and it listed for $145,000. That price actually makes good sense to me.

Author: gordon

Nevada County Resident since 1988. Painting and Decorating Contractor 1985-2003 Nevada County Realtor Since 2004 Member of the Nevada County Masters Club (top producing agent) Every Year Since 2004

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