If a house is listed for 177,000 what is a resonable opening bid ?
Answers: I would say 155,000 that way you've got a lot of room for negotiation! Trust me I'm a woman
All of the answers are wrong.
This isn't just a numbers game or finding the sweet spot, but about the market and the circumstances.
What are similar homes selling for in the area? Notice how I did not say "listed" but SELLING PRICES. Big difference here.
What are the circumstances of the owners? Do they need to get it sold quick and move? Are they taking their time? How long has it been listed?
What's your status? Are you pre-approved? How much down will you be putting down? Have you met the other agent or owner?
All of these factors play a role. It's easy to shoot a number and say offer this or offer that, but that's not how it works. Consider all of the above and then make an offer. Don't be afraid of lowballing if circumstances are in your favor.
The answer is a HUGE it depends.
It depends on what comparables have SOLD for in the neighborhood. RECENT comparables.
It depends on how long the house has been on the market (my offer would be a lot lower on a house that has been on the market for 9 months compared to one on the market for 9 hours).
It depends on the motivation of the sellers. Are they relocating for a job? Has the person started their job? Is the house empty? It is bank owned? It is owned by a relocation company? Are you prepared to walk away if you don't get your price?
Two scenarios (extremes, but scenarios):
#1 - the home is owner occupied. The house just went on the market. Fair comparable value is $182,000. You love the house and the neighborhood, the colors, the amenities, etc., it is your dream house! You can afford a $250,000 house, but this one is perfect. I'd offer a full $177,000.
#2 - the house is bank owned. The comparable sales in the neighborhood are $172,000. The bank has had it for 4 months. There is some work you'd need to do to get in the condition you would like to live in it. You can really only afford $170,000. The area has a sales price/list price ratio of 95%. I'd offer $150,000 in the second scenario (It's too expensive, over-valued, institution owned, out of my price range, I am not emotionally attached to it, etc.)
See, it depends. Guidance from your realtor can help, but ultimately, it's up to you.
good luck!
The Realtor is correct. A listing price is merely a starting point. Listing prices compared to selling prices vary widely by geographic area. You need to find what comparable homes have sold for recently, and then be guided by that figure. It's entirely possible that the home is grossly overpriced, and it's just as possible that the home is fairly or even UNDERpriced.
In my particular area, I've seen a fair share of homes go ABOVE the starting list price. Engage the services of a qualified buyer agent, and ask that person for written evidence of recent comparable sales.
Thoughts & Comments on the Raleigh, NC nouns?
We are considering a move to the Wake County area - Raleigh, Cary, Apex...I would appretiate any thoughts from those who live or call round there! Schools, shopping, taxes, job. whatever!
Answers: please do urself a favor-dont move!! it be charming 15 years ago.now,the roads are choked near traffic,the commutes to work are awful.its like driving surrounded by manhatten.food prices are high,as hi almost as surrounded by nyc-my uncle,visiting just now was surprised.because of massive growth and not adequate schools,our kids are self bussed,or forced into year round schedules-with the older and younger kids tracked out at adjectives times,making family vacation difficult to plan.we have be in the grip of intense drought for months,hose is going to be more expensive,and water restrictions are set to become more severe as this drought worsens.taxes enjoy gone up to support more schools,our house values own all gone up-good for seller,bad for those who in a minute have to wages higher taxes on their properties,next to older ancestors on fixed incomes being forced to sell/downsize.teardowns of existing victorian thru 1950's homes is rampant,they are individual replaced with misshapen mcmansions.we cant stand the L.A style traffic and the fact that every green space is ploughed and smooth to make instrument for yet another shopping arcade or apartment complex.everything this city was is individual ruined by massive growth.we are moving to my grandmothers rural property,as raleigh is now one big traffic full mess.cary is the same and apex is getting that mode.its called "urban sprawl"-think "stripmall"-and its bizarre.i live in the historic partof raleigh downtown-victorian thru 40's homes.sounds pretty,right?ooops,did i mention,its 2 blocks from a slice notorious for prostitution and shootings?yes,right down the road are crackhouses.not a soul seems to be doing much in the region of that.there hold been several drug-related killing 2 blocks from my home in "historic oakwood."
NC is where on earth I am from, Charlotte specifically.
The tax rate is better in Charlotte, but the prices of homes within Raleigh are far greater than Charlotte, so in essence, respectively year you will fork out more in property taxes.
I individually, like Charlotte better. People here telephone it the "big little city" because it's not spread out over a huge geographical area approaching Raleigh is. Raleigh has also be a huge victim of tons of cast off buildings in industrial parks that are no longer mortal used. That makes for a huge eyesore of a city.
Raleigh also have more issues with drugs within than Charlotte because I-95 runs right through Raleigh, which is well set by drug enforcement.
I can't imagine living anywhere else.
I am shocked to read adjectives of these negative comments. I moved to Raleigh a year ago and although it's not my cup of tea, I dont dream up I've met a single person here that doesn't love it. The population is growing steadily and most ethnic group who move here are from NY or NJ which is why I think they close to it, since they can be around the same type of relations, if feels used to. We are in a severe drought, but housing prices will be much cheaper than NY and traffic although locals find horrible will be zilch to you. Also, despite negative comments on school they are not as awful as described, Wake County Schools, especially those in Cary consistently calibre in the top 100 of the nation twelve-monthly. And local towns like Cary and Apex also reputation in these list regularly. I suggest visiting and decide for yourself. Taxes although higher surrounded by Cary, still probably won't compare to those in NY from nation I've talked to. It can be difficult to find a work but if your in a mechanical or professional field it shouldn't be a problem next to the Research Triangle so close.
P.S. to answerer #1 I-95 does not run through Raleigh it's more than 20 miles away and the city is much smaller than Charlotte in geographical size, after adjectives our beltline is only around 20 miles long.
Raleigh is actually a pretty nice city. I don't know where on earth Mary gets her info from...she sounds resembling she's describing Fayetteville.NOT Raleigh. (Abandoned industrial buildings? WTF??) But I'm not surprised...most people surrounded by Charlotte think the rest of the state worships them or something.
I've lived surrounded by Raleigh for 13 years now, and am a North Carolina original so I think I know my city. It's a wearing clothes, fast growing city. The reduction is relatively strong here...definitely science-based though, near education and command as other big job sources. Raleigh along near it's neighbor cities Durham and Chapel Hill, forms the Research Triangle area which is a quantifiable research hub for the region. Lots of colleges here too, as you probably know.
Raleigh, Durham and Chapel Hill are growing with more opportunity these days. (That said, if you don't enjoy a job furrowed up already, I'd probably not move yet.)
All three cities here own been doing other of downtown revitalization and urban development within the past decade. I've see a great deal of variation here in the urban cores.
As for the other Wake County towns approaching Cary, Apex, etc, I really don't have much righteous to say almost them. They're just sprawling suburbs full of gated communities, cul-de-sacs, and strip malls. If you've ever see the movie "Stepford Wives" then you've see Cary.
Why is it the price of mobile homes are??
they are outrageous why is it I thought that mobile homes where the cheaper housing I enjoy been looking and they want 25,000.00 for ones built within the 80's I thought mobile homes did not hold their value what is this craziness more or less. I am sorry but when a trailer built in the seventies is going for 18,000.00 it is riduclious is in that any free websites to look up foreclosure mobile homes i really only want a double general. Please help!Answers: In CA mobile homes are literally mortal given away, nice ones in nice parks. People may be asking for 25k but getting it is another story.
you are traveling the wrong road. houses and realestate dont exist anymore.this is the adjectives