37 replies to this topic

[Dr. Folsom]

We are looking to move and the prices seem to be 100k less for what I expected for a 3500+ sf home . Is it because of small lots, poor construction, power lines or something else?

[bishmasterb]

We are looking to move and the prices seem to be 100k less for what I expected for a 3500+ sf home . Is it because of small lots, poor construction, power lines or something else?

I can't say I've noticed that at all, but haven't looked recently. The Parkway is a great neighborhood with plenty of trails, big oak trees and open space and an HOA (love them or hate them) that keeps things looking very nice. I think it's arguably one of the best neighborhoods in Folsom.

There are plenty of different builders, John Laing and Centex to name a couple. And I've not heard of any chronic construction problems.

In other words, if you can get $100K+ off on a comparable house, go for it!

[mylo]

$100k less compared to what?

[Dr. Folsom]

$100k less compared to what?

Are these great deals? They seem inexpensive to me!

1709 Bowen Dr $649,900
Bedrooms: 5 Bathrooms: 4
Square Feet: 3449 Lot Size: .158


1045 Sandwick Way $674,900
Bedrooms: 4 Bathrooms: 3
Square Feet: 3775 Lot Size: .224


1733 Bathgate Ct $700,000
Bedrooms: 5 Bathrooms: 3
Square Feet: 3721 Lot Size: .286


vs. SOLD



672 Henry Court, Folsom, CA 95630
Sold for $849,000 on Mar 16, 2007
4 br 2½ ba 3,037 sqft

259 Alabaster Point Way, Folsom, CA 95630
Sold for $850,000 on Jan 30, 2007

743 Sturbridge Drive, Folsom, CA 95630
Sold for $800,000 on Jan 2, 2007
4 br 3 ba 3,547 sqft

1048 Callander Way, Folsom, CA 95630
Sold for $865,000 on Jan 18, 2007
4 br 2½ ba 2,492 sqft

[Steve Heard]

Dr. F

The Folsom market, and the houses you are comparing, are all over the map; literally.

Sandwick is in Empire Ranch, Bathgate is in Broadstone.

Henry Ct is in Prairie Oaks, established neighborhood, really nice upgrades

Alabaster is a custom home in ARC and sits on half an acre

Sturbridge is in Empire Ranch, and had lots of upgrades, including out door kitchen and fireplace

Callander actually sold for $565,000 not $865,000

Lots of factors come into play, including tract vs. custom, upgrades, landscaping, view, lot size, neighborhood amenities, and the seller's situation. It's definitely a buyer's market right now, and some sellers are realistic, some are desperate, and some are dreaming.

This is a great time to be in the driver's seat. There are some relative bargains out there.

[Warren G]

A reason for the lower prices... The Parkway's HOA dues are around $320/month. That is the equivalent of adding about $40k to the price of a home without HOA dues. I saw some homes there last week and the quality of the fixtures, doors, countertops, etc. is well below what you'd normally specify in a nicer "custom" home, but if the price is more important to you, then the value will be good. Very nice trails around there along the creek. That's worth a lot to some people.

[Dr. Folsom]

A reason for the lower prices... The Parkway's HOA dues are around $320/month. That is the equivalent of adding about $40k to the price of a home without HOA dues. I saw some homes there last week and the quality of the fixtures, doors, countertops, etc. is well below what you'd normally specify in a nicer "custom" home, but if the price is more important to you, then the value will be good. Very nice trails around there along the creek. That's worth a lot to some people.

This is the kind of info I am looking for! Thank you!

[bishmasterb]

A reason for the lower prices... The Parkway's HOA dues are around $320/month.

The dues vary depending on the development within the Parkway. The condos for instance are higher (last I checked they were about $250/month but perhaps they have gone up).

The single family homes are less. The house I sold a year and a half ago was $96/month, although I did hear that it went up. I'm sure it's much less than $320 a month though.

[mylo]

ARCN's HOA dues are voluntary, and even then only ~$150/year in most areas

[Eeestll]

A reason for the lower prices... The Parkway's HOA dues are around $320/month. That is the equivalent of adding about $40k to the price of a home without HOA dues.

It is about $320/quarter for Parkway I, not per month.

I bet I can find houses in the MLS that would be cheaper than some in the Parkway, and vice versa. You need to compare apple to apple.

All I know, is that people who want to get out of their houses now need to list low to be able to sell fast.

[Steve Heard]

A reason for the lower prices... The Parkway's HOA dues are around $320/month. That is the equivalent of adding about $40k to the price of a home without HOA dues. I saw some homes there last week and the quality of the fixtures, doors, countertops, etc. is well below what you'd normally specify in a nicer "custom" home, but if the price is more important to you, then the value will be good. Very nice trails around there along the creek. That's worth a lot to some people.

$320 a month? That's unheard of! Where are you getting that figure? I don't think anyone would pay that much anywhere in Folsom.

As for the quality, remember that there were several developers who built in two different areas of town that we call 'The Parkway', and also keep in mind that buyers selected their own fixtures, countertops, etc., upgrading if they so desired.

I sold a house in the Parkway fairly recently that was top-of-the line throughout. I don't recall the HOA dues, but I don't recall it being more than $100 a month.

[firemedic238]

$320 a month? That's unheard of! Where are you getting that figure? I don't think anyone would pay that much anywhere in Folsom.

As for the quality, remember that there were several developers who built in two different areas of town that we call 'The Parkway', and also keep in mind that buyers selected their own fixtures, countertops, etc., upgrading if they so desired.

I sold a house in the Parkway fairly recently that was top-of-the line throughout. I don't recall the HOA dues, but I don't recall it being more than $100 a month.

HOA dues are 110 a month. The HOA can be a pain at times, But the Parkway always looks great. We have a Centex home and we have had no problems. Centex has been great about coming out and fixing the little things. I have been very demanding and Centex has always fixed anything I wanted done.

[bishmasterb]

HOA dues are 110 a month. The HOA can be a pain at times, But the Parkway always looks great. We have a Centex home and we have had no problems. Centex has been great about coming out and fixing the little things. I have been very demanding and Centex has always fixed anything I wanted done.

I second that. I had a Centex home and they fixed stuff that I had even broke (chipped tiles, molding) without question. They were great.

[Warren G]

$320 a month was on two different MLS listing printouts for houses that I looked at over there a week ago. Perhaps the Realtors for those houses were wrong. The houses were in the $570-$650k range. There were other listings nearby that were shown as $95- $200/month for HOA dues.

[Birdie]

My Parkway monthly HOA is $108. The $320 must be for a quarter.