Fair Market Real Estate Value Defined- Berkshire Real Estate Berkshire home sellers can teeter between hope and worry in the housing market in the Berkshires. Berkshire buyers are confused and hesitant.
We all believe we truly "see" what we are looking at (at least most of the time). It is no secret (especially among police detectives and attorneys ) that seeing things with our own eyes does not mean
There's no magic number, either in the past or today. Offering 20% less may result in a great buy (if accepted), or--if the property's overpriced--may not be a good deal at all. Same with 30%. As other agents will advise, first you need to know the comps. List price means very little; it may or may not be close to the real market value. Good agents will set the list price at or slightly below the comps, but there are a lot of other agents out there, and a lot of owners looking for yesterday's higher prices. So, don't focus on the list price. Focus on comps--the recently solds.
Second, regarding "insulting the owner," get over it. So what? You come in low, and the owner has 3 choices: (1) accept, (2) counter, or (3) reject. If he accepts, fine. (Except that means you could have gotten it for less.) If he counters, fine; that means you're in the ballpark. And if he rejects, then you move on.
You're not competing for Miss Congeniality. You're trying to buy a house. Base your offer on the comps, and then, if you wish, go below those.... more