Financing in 27529>Question Details

cnewkirk15, Home Buyer in Garner, NC

Is it good to purchase a home that was orgianally purchased for 202,000 and asking price now is 189000, is that normal??

Asked by cnewkirk15, Garner, NC Tue Jan 22, 2013

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Good question and the answer is...it depends. Have your buyers agent do a market analysis for the area to determine your best approach. Best of luck.
0 votes Thank Flag Link Tue Jan 22, 2013
Market prices may have changed significantly in that area. This could be the cause of the current pricing. However the seller may just be looking for a quick sell. I would suggest you have your agent look at the property and give you an analysis of the area. If you do not currently have an agent, feel free to contact me.
0 votes Thank Flag Link Tue Jan 22, 2013
It happens. You need to check with your buyer's agent and see what the present market value on the home is. Many homes these days have lost value. Some areas have been hit worse then others. We have seen in many areas though home prices beginning to rise. So if you can find a deal the best advice is that have your real estate agent do a market analysis on the home and then determine how much you would like to offer and negotiate a deal.

Hope this helps,
0 votes Thank Flag Link Tue Jan 22, 2013
If the actual market value is $210,000, I think you can hardly go wrong.
If the actual market value is $160,000, I think you need to not overpay.

Comparable sales will help determine market value and from there you can derive an offer and fair price. Your agent easily should be able to provide those calculations.
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0 votes Thank Flag Link Tue Jan 22, 2013
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