If it is already listed 10%-20% below the averge market...why would the seller have to come down more? As you said, it has only been on the market 15 days. If it has not sold in 6 months, you might start thinking about making a lower than list offer. Right now, I might consider..at the least..a full price offer to beat out the other buyers.
As other agents have mentioned, you will need to know what the market is doing for the area the home is located first before you can make a offer. Have you been inside the home? How well do you know the area? Schools, commute, crime? All issues you need to think about. Lets talk as I live in Cypress and have worked as a buyer's agent for many clients over my 19 years in the business! Hate for you to lose a home because you made too low of an offer. You might be waiting a long time if you only look at the price. Lets talk soon.
I specialize in the Cypress/290 area. Please call me if you have more questions, and good luck with your home search.
There is no way of knowing that a home will sell below the list price or above the list price. Nicer better cared for homes vs. trashed and begging for TLC homes still depend on location and sometimes the right buyer to come along.
Your first - best step is to find a Realtor to work for you that you can trust (THAT'S ME !!). Call me and let's introduce ourselves. We will visit about what you want. When I have a clear idea of your needs I will send you homes (this one also) so you can see the photos of the property.
In the mean time I will be helping you locate a trusted financial advisor to assist with the mortgage steps you will need to make. Then when you find just the right home I will have you setup in a strong position to make an offer and I will negotiate for you to get you the best deal.
The properties I send, you will want to select the best 2 or 3 and we will view them so you can get a feel for the neighborhood as well. Looking forward to assisting you and making all the process stress free for you. I see no reason for you to delay. CALL LME TODAY. I can get you started the right way !!
Kathleen (281)799-4002 KathleenRealtor1@gmail.com
--- Helping you make SMART real estate decisions!!
Understand that the LISTING PRICE has one primary objective, to attract attention: It is not intended to be set in stone, and in many cases it is not even a good guideline toward the SELLING PRICE.
Some Sellers believe that by setting the LISTING PRICE high, they can always come down, and people will make an offer anyway: WRONG! Buyers will just bypass the property and look at houses that are within their price range. And six months from now, the Seller will slowly start lowering the PRICE, (this is called â€œchasing the curveâ€) and Buyers will be asking the question; â€œWhatâ€™s wrong with that house?â€ and â€œWhy has it been on the Market so long?â€
Other Sellers set the LISTING PRICE low, to attract multiple offers. (The correct strategy.) We are asked; â€œArenâ€™t you obligated to sell at this price if someone offers it?â€ The answer is probably not; for that to happen, you would first have to have only one offer, and secondly, the offer would have be exactly the same, down to the smallest detail, (please discuss this with your Realtor).
Another thought; Buyer will search for potential properties by groups; for example, $400,000 to $450,000, and $250,000 to $300,000. If your house is priced at $460,000 or $310,000, the Buyers will never see it. (something else to discuss with your Agent.)
Different Banks have different philosophies about pricing their properties: You cannot draw any conclusions without a good analysis.
Have your Realtor do a CMA, (Comparative Market Analysis) to help you determine your Offering Price. It is the surest way to determine the Market Value of the property.