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julybride0706
LIF Adult
Member since 3/07 1376 total posts
Name:
kaitlyn
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opinions needed...love this house we just saw
the only thing is that the price is a little higher than we want. what do u make out of this if:
1) been on the market since dec 09.
2) has not adjusted the price at all.
3) but the "occupancy" on report says "asap".
4) their contract with their agent is for 1 year.
5) mynassauproperty.org: market value for 2011-2012 is only $613k. Zillow: $664k
6) asking is $790k.
what your opinions on this if you saw the above information on the sheet your agent gave you? DH and i think the owners probably want something closer to their asking price.
Message edited 7/27/2010 9:55:04 PM.
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Posted 7/27/10 9:48 PM  |
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Charly
LOVE!
Member since 5/05 12578 total posts
Name:
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Re: opinions needed...love this house we just saw
I loved my current house when I bought it. I thought it was priced too high and it was more than we wanted to spend. It was on the market for close to year with no price adjustment. She already had a house in FLA, but she wanted what she wanted. She really wouldn't budge and we bought it anyway.
I will say, contracts can be renewed so that doesn't mean anything.
Zillow and other sites like it aren't always accurate. You really need to look at comps. I looked at my house and it didn't have the gazillion updates on it. I recently read this article in my local newspaper. zillow article
Check out the comps and make an offer you feel comfortable with. Good luck
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| Posted 7/27/10 9:57 PM |
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Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
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Re: opinions needed...love this house we just saw
Zillow isn't accurate and neither is my nassau property. Usually way under market value IME.
Honestly it's VERY clear her asking price is wayyyyy tooo high. Do you know what any comps have sold for?
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| Posted 7/27/10 10:14 PM |
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julybride0706
LIF Adult
Member since 3/07 1376 total posts
Name:
kaitlyn
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Re: opinions needed...love this house we just saw
i'm not even sure how to compare comps  i pulled up some sold houses in that area and it's all 500k and very low 600k
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| Posted 7/27/10 10:20 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: opinions needed...love this house we just saw
I say offer what you think is fair. Look at what other similar houses in the area are selling for.
If she is insulted by your offer, then so be it. If the asking price has not budged in 7 months, then the owner is obviously not motivated and has some serious misconceptions of what she thinks her house is worth.
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| Posted 7/27/10 10:27 PM |
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Charly
LOVE!
Member since 5/05 12578 total posts
Name:
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Re: opinions needed...love this house we just saw
Posted by julybride0706
i'm not even sure how to compare comps i pulled up some sold houses in that area and it's all 500k and very low 600k
That's your brokers job Have him/her print out the comps and explain them to you. Since there were no "real" comps within the last 3 months, my broker printed out all the comps and adjusted the prices up/down for the amenities (for example the house down the street is $60k less, but they have less sq feet, don't have an extra room for an office, don't have central a/c or an inground pool, etc. ) Those things have a "value" and she took their sale price and added to it to show if they had those things our price is on target. Does that make sense?
Message edited 7/27/2010 10:31:56 PM.
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| Posted 7/27/10 10:29 PM |
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julybride0706
LIF Adult
Member since 3/07 1376 total posts
Name:
kaitlyn
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Re: opinions needed...love this house we just saw
Posted by Charly
Posted by julybride0706
i'm not even sure how to compare comps i pulled up some sold houses in that area and it's all 500k and very low 600k
That's your brokers job Have him/her print out the comps and explain them to you. Since there were no "real" comps within the last 3 months, my broker printed out all the comps and adjusted the prices up/down for the amenities (for example the house down the street is $60k less, but they have less sq feet, don't have an extra room for an office, don't have central a/c or an inground pool, etc. ) Those things have a "value" and she took their sale price and added to it to show if they had those things our price is on target. Does that make sense?
thank you! this is very helpful!
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| Posted 7/27/10 10:38 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: opinions needed...love this house we just saw
Posted by julybride0706
i'm not even sure how to compare comps i pulled up some sold houses in that area and it's all 500k and very low 600k
how does 'your' house compare to those sales? the seller may just have an unrealistic price in mind...or the house may be overimproved for the area.
if the neighborhood is full of $5-600K homes, the one you're looking at better be something really special to justify that price. And even if you're willing to go that high, the appraisal may not.
After reading this and your other thread about the comps all being new construction, it seems to be that this house is way overpriced.
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| Posted 7/28/10 6:45 PM |
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