Home Buying in Rohnert Park>Question Details

Stephan, Home Buyer in San Francisco, CA

How do I know if I should offer more or less than the listing price in Rohnert Park?

Asked by Stephan, San Francisco, CA Mon Apr 23, 2007

Is there a difference if I'm looking for a single family home versus a condo, or some other type of property?

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Stephan,

Request you agent to provide you with all of the recently sold comps for property located in Rohnert Park. This information will provide a "snap shot" of what has been happening in your target location from a SALES perspective.

A review of this information should clarify the locations market activity as well as what your offer price should be.

Good luck
0 votes Thank Flag Link Wed Dec 10, 2008
Hi Stephan,

As what Yasmeen stated, it's a good idea to get comps. In terms of what you should offer, it depends on the situation. First, ask your agent if the listing is a foreclosure, short sale or a regular sale. Then, ask if there are currently any offers. It's all about demand!

For a more detailed explanation to your question on what to offer for regular sales, short sales and foreclosures please go to my blog here on Trulia at the link below!
0 votes Thank Flag Link Wed Dec 10, 2008
For you to know if you should offer more or less than the listing price anywhere, you should do your research on that particular property and the area where it is located. This is really something your Realtor should do for you. This is what I usually do for my clients when they choose a home they would like to purchase, and before we write up an offer - I usually provide them with a list of compatible properties that have recently sold in the area so we can sit down and evaluate them together. We compare the already sold homes to the property in question and see if that particular home is priced higher or lower than the homes that have already sold. This is just one of many other things I do for my clients, and you should consider before making an offer on a property.
There are many different homes out on the market - some need a lot of work, some need just a little cosmetic fixing, some are ready to move in. They can all be priced differently. There are also foreclosed properties for sale, short sales, regular sales - this is why you need an experienced Realtor working by your side to help you through the process of buying a home. It could be complicated, but with a good Realtor you can trust it could be really easy!
I recommend asking your Realtor a lot of questions (don't be shy!). When you are actively seeking for a home to purchase, you will learn a lot as far as how much higher or lower you should go on each property you're interested in.
0 votes Thank Flag Link Mon Dec 8, 2008
In the current market we are in it is going to be a rare thing to offer more than the asking price. Here are some factors to consider when making your offer:
1. How long has it been on the market?
2. How motivated is the seller?
3. What price have other homes sold for in the area in the past 6 mos.?
4. Are there anyone else offering on the property?
5. Is it vacant?

Ask a local realtor to give you comps of the area for the past 6 months: Active, Pending & Sold. It would be good to consider the above factors before offering on a property. Remember: You make money when you buy, not when you sell.
0 votes Thank Flag Link Thu Jun 14, 2007
Most sellers are negotiating and now is a good time to buy (lower prices and lower interest rates with more inventory to choose from). There are a lot of condos for sale in Rohnert Park.
0 votes Thank Flag Link Mon Apr 23, 2007
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