Wednesday, November 29, 2006

Paying More for Less in Mill Valley

...Adding to the ambience inside are many of the original finishes...
Yes, in other words not much has been done to this Mill Valley POS. It comes in at 2 br 1 ba, 971 sq ft, built in 1925. The "wishing price" of $899,000 puts this one well into POS territory as that works out to about $926/sq ft.

Is it just me or does it seem that in Marin the smaller the house, the greater the $$$/sq ft statistic? If so, why are people willing to pay a premium for smaller? I mean, this is America! Supersize me for chrissakes!

Thanks to the reader who found this one.


Anonymous Anonymous said...

You're right about the high dollar per square foot of the house, but Zillow says it sits on a large lot (0.14 acres) by Mill Valley standards. They might get close to wishing price. Somethings else stinks about this place though; Zillow shows it has been sold five times in the last ten years. Bad neighbors, mold, that hill sliding in winter rains, huge gardener bills, who knows what, but people buy and then split in two years.

November 29, 2006 7:10 PM  
Anonymous Anonymous said...

MMM,did this already slip down the hill - or is just half way? Because if it's half way, then maybe I'll buy it...

November 30, 2006 4:21 PM  
Anonymous Anonymous said...

1/10 of 1 acre is a large lot? (hillside acreage no less).

December 01, 2006 10:29 AM  
Anonymous Anonymous said...

That's such a small lot, you'll be able to hear your neighbors cough. Yikes.

December 08, 2006 10:30 AM  
Anonymous Anonymous said...

Lower the sqft - higher the $$$ always.
My house in charlotte NC is 2723 sqft 2 storey and cost me 151K. My neighbors is 2297 sqft 2 storey and cost them 140. We bought almost the same week and they were both discounted ~the same by the builder. They have 6K options, I have 10K. Essentially I paid 4K more for 500 sqft. Or $8 a sqft for that added area. Here is why. Our Lots are the same size, garages, driveways, number of bath rooms and other extraneous bits are all the same size. As is the kitchen and all the cabinets and fittings. That's where much of the $$$ is.
Of course these marin ones and others in the Northern CA area are true POS'es. 1925 built - can you say lead and asbestos. I'll bet inspections of these houses are going to be fun.

December 11, 2006 6:39 AM  
Anonymous Anonymous said...

Yikes - how bad is my math. 2723-2297 is 426 not 500. but somehow they dont count closet space or some like that and ours counts smaller and theirs counts larger (but still not 74 sqft).

December 11, 2006 6:41 AM  
Blogger mizerock said...

More like: price = constant + price per sq foot. So for a small place, the constant term dominates the price.

December 14, 2006 11:01 AM  

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