Foreclosure in 30263>Question Details

Mbnwilliams1, Home Buyer in 30263

What should I offer on a foreclosure listed at 159,900.00. The original listing price in August was 175,000.00 and dropped 15,000.00 in a month.

Asked by Mbnwilliams1, 30263 Mon Nov 1, 2010

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That question depends on what other similar homes in that area have recently sold for. It could be that the sold comparable properties support a full price offer...or it could still be overpriced. The absolute best determinate of what a home is worth, is what other homes in that market with similar qualities are selling for.

If you are already working with a buyer's agent (which I highly recommend because it should be at no cost to you and they will be able to help you with these types of things), ask your agent to gather a list of recently sold homes in that area to help you make your decision.

If you need help, please don't hesitate to call me...

Thanks,
Barbara Adamson
Keller Williams Realty Atlanta Partners
404-213-8572

barbara@metrobarb.com
1 vote Thank Flag Link Mon Nov 1, 2010
*/*/*/* LOCAL *** LOCAL *** LOCAL... One of the most important facts is that all real estate is LOCAL and all of the evidence that is used to make a well informed buying or selling decision will normally come from a LOCAL full-time, full-service Realtor. This evidence is more than just price related. If you are seeking to purchase property in the 30263 or 30265 area and are not already working with an agent, please give me a call today. You can also visit my website at http://www.freegamls.com. I am a LOCAL area resident of more than 35 years. I am also a full-time and full-service top producing Realtor. Best of all, my buyer services are FREE. Don't make one of the the most important financial decisions without first consulting and contracting with a full-time, full-service Realtor who will look out for you best interest. The seller is represented by a professional who has the seller's best interest in mind and you should also have property representation (again... it is free to home buyers).

Joe Powell Realtor
Better Homes and Gardens / Metro Brokers
404-843-2500
Web Reference: http://www.freegamls.com
0 votes Thank Flag Link Mon Nov 1, 2010
Good answer from Veronika. There is no onesize fits all formula for making offers - each property has its own unique set of parameters - and correctly determining the physical condition is paramount.

If you are not represented I would be happy to help you - if you are represented this is a question you should be asking your agent.

Regards,

Robert Whitfield
Broker/Owner - Realtor
Professional Buyers Broker
Relocation Expert
New Home Construction Consultant
ICC Code Certified Building Inspection Expert
Advantage Realtors
678-585-9691
877-787-7167
“Know if the property is a Real Find or a Real Financial Risk - Before you submit your offer!
0 votes Thank Flag Link Mon Nov 1, 2010
The only way to answer this question is to review recent sold, under/contract and for sale in the neighborhood or area. I wouldn't consider any sales prior to June 1st of this year, the end of tax benefit period. Prices were slightly inflated then due to that stimulus and seem to be trending down since then. Again, this is area - specific.
Property condition is another factor for consideration (move-in, trashed?)
0 votes Thank Flag Link Mon Nov 1, 2010
Your agent should beable to give you the last sold within the last 3 months of that subdivision. This is a great base to start with for an offer. If you need some help than email me bonniesellsrealty@yahoo.com.
0 votes Thank Flag Link Mon Nov 1, 2010
You need to assess what the home is worth in todays market and base your offer on that, do not look at asking prices or price drops, you dont know if the initial asking price was at market value, or way above or even below.

Please see my blog for info on making offers on bank owned properties
0 votes Thank Flag Link Mon Nov 1, 2010
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