Let me know how I can help you further. Bye for now
Ingrid Ski Realtor
Home prices are on the rise in general. Rates remain at record lows, so buyers are still able to get in a home withour breaking the bank.
That being said, if the home you are speaking of is $50k above what similar homes in the area are selling for , it could be overpriced.
Often time sellers value their homes very highly, beacuse they have done upgrades. I advise my buyers not to get too hung up on all lthe shine and newness of the upgrades. Keep in mind if you buy a home with the same sq footage and floor plan in the same area for less, why can you not make your home shine? Afterall new paint, flooring, crown and base boards,and window coverings make a big difference in a home. New kitchen appliances (think Stainless) and counter tops also make an older kitchen look refreshed. Bottom line you can fix a home up for far less than $50k.
Unless the home has had additions that add to the square footage, like additional bedrooms/bathrooms or a fmaily room, l would not be too quick to pay $50k more than what the area is currently selling for.
Best of luck to you!
Kawain Payne, Realtor
"The Buyer's Agent"
Prudential California Realty
While it is true that homes are sold at listed price or above listed price in recent days, all homes are not sold over list price. There are pocket areas in Westminster that are priced more competitive than other. At $425,000 you may find a nice home in a reasonable neighborhood, and at $375,000 ($50,000 less) you may find a home that requires remodeling.
The market has been shifting rapidly since the beginning of the year, making it difficult to predict what home prices will be in the next few months. Other things to look for are the health of the economy and interest rates.
I will be happy to work with you in your home buying process when you are ready. In the mean time, please call me if you have any questions. My contact information is below.
Thank you and good luck.
DRE # 01863879
Coldwell Banker Beachside, Realtors
You REALLY need to touch base with local real estate professional and analyze the recent sales using the three independent valuation methods many agents use. As you suspect, a remodeled, pristine home with a price that starts the conversation, will be gone in a flash.
Here in Florida, homes are definitely selling above the bank imposed 'appraised' value. Traditional sales are coming in at 99% of asking price in select communities. My observation is this pattern is being repeated throughout the country in select communities.
Quality inventory is evaporating.
You should call a local agent.
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.
Any home that is priced well sells for the asking price and sometimes more. It's a very competitive market right now. If there are not multiple offers and the house has been on the market for a couple of weeks there will be some room for negotiation. It all depends on the seller's situation.
My business model can save you some money on any house you buy. I share my commission with my clients and could probably save you $5,000 to $6,000 on this house on top of anything we can negotiate with the seller.
Take a look at my website at http://www.wehelpubuy.com and give me a call. I sell dozens of homes each year would be happy to talk to you about how I can help.
Broker - 01416432
We Help-U-Buy Realty