Yesterday I went to an open house in Simi Valley. We looked at 1477 Branch Ave. We were given a flyer that had a price of $650,000, but that was crossed out with $639,000 handwritten underneath. Zip Realty says this house was first listed on 3/7/07. I was thinking that the $11k price drop was awfully generous, until I saw on Zip Realty that this was the 3rd price drop on this house. The original ask was $669,999. That $309/square foot price doesn’t seem all that bad, but to me this house really doesn’t seem worth $639,000. But then, I don’t think any average tract home is really worth much more than $500,000. Sales history on this one says it was sold for $208,000 in 1993 and $208,000 again in 1999. 6% appreciation per year says this house is worth about $330,000. But I think the pool is fairly new, so that should bump up the value a bit. Nothing else in the house seemed particularly new or exciting.

The floorplan of this house was a little bit odd, but it has a really nice pool in the backyard. We went upstairs and weren’t impressed. It felt like the floors were squeaky and the elevation changed as we went from room to room.

When this house sells, I will update the price here to see where it falls.