if you have the money for the paint and carpet, you are better off getting them to take it off the purchase price.... your property tax is determined by what you pay for it.

Have you spoken with the sellers or agent to see if they'll also give an allowence for paint and carpet? That will make it more appealling than the others for that price, giving them a sale and you a home with the upgrades you are seeking. They should concede! Great loan rates right now, as of today. Keep us posted Anurag :-)

For the last three months sales in that zip code:
avg sales price: $480K
avg bdrms: 2.9
avg baths:2.1
avg sq/ft 2100
avg $/SQFT $277

You're paying $262/SQFT. Since those are the last three months and prices have declined every month, you might be able to negotiate a better deal. $245/SQFT would pin in at $392K. However, the specific location makes a difference in value too. If its in a nice neighborhood for the area, it could be a good price for today. Look at the forelcosures that are for sale in the surrounding area and check http://www.foreclosurepoint.com to see notice of defaults and trustee sales in the neighborhood.

At that square footage, you would be the best priced property in the area. Sounds like it might work well. Typically I preview the homes other homes in the neighborhood before concluding on a specific price.

Are you working with a Realtor now?

Jeremy Lehman
Century 21 Beachside Realtors
(714)580-3274
Jeremy@LehmanHomes.net

Looking in all the nearby areas of Buena Park. The sq ft is 1600 and the lot is 8000 sq ft. The lawn seems to be dried and the grass is yellow

If your working with an agent, have them run the comps. Aren't you purchasing a property in Buena Park?

There are currently 14 properties listed below that price that are 3 bedroom Houses. More information would be needed like square footage, what neighborhood you are in, specific condition of property. The good news is there is a lot of sales activity in your area, and not very many expired listings in your market, showing that sellers are having good success. It looks like a good starting point. I would research Pre Foreclosures in the area, as well as bank owned properties before coming to a conclusion on price.

Jeremy Lehman
Century 21 Beachside Realtors
(714)580-3274 http://www.LehmanHomes.net

what's the square footage of the house and the lot size? what street is it on or nearest cross streets?
How's the lawn?