Home Buying in Westerleigh>Question Details

Joanne Reyes, Home Buyer in Staten Island, NY

How much should I offer for a house priced initially at 430K and after 51 days raised to 459K?

Asked by Joanne Reyes, Staten Island, NY Mon May 4, 2009

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9
You have been given some good advice Joanne. I couldn't answer your question any better. Good luck.
0 votes Thank Flag Link Mon Aug 26, 2013
You work with Realtor who represents your interest. A good realtor will simplify your life.

The correct amount is derived mostly from the recent selling prices of comparable properties. But current "for sale" comparable properties need to be looked at also. Your Realtor will gather the info and advise you.

http://gettingthebestprice.com/fyi.php?top=139

thanks
0 votes Thank Flag Link Fri May 17, 2013
My first question to you would be - are you working with a buyer's agent? If you are, that agent should be able to guide you towards what kind of offer to make taking into account various factors. A buyer's agent works for the buyer and can help provide the type of information and advice that will enable you to make an informed decision. This house may also be a short sale or bank owned property and the bank may have been turning down some of the initial offers and therefore the reason for raising the price. If you're working with a broker's agent or sub-agent, that agent is working directly or indirectly for the seller and cannot provide you with the type of information you require. Good luck.

Ralph Windschuh
Century 21 Princeton Properties
631-467-0009
0 votes Thank Flag Link Thu Sep 10, 2009
You will need to do an assesment of the home values in that area. That's just what an appraiser will do when the bank sends them to the property. There are always expections, but that will need to be pointed out. So the real question is, "What is the real VALUE" of this property?
0 votes Thank Flag Link Thu Sep 10, 2009
There are as many reasons to change a price as you can imagine. The owner may have gotten their new property tax assessment & realize the house is still worth more than they are currently listing it for. Realtors always tell the seller to lower the price. The realtor wants a quick sale, they don't have their life savings, hard work, &memories tied up in the house. They may 'know the neighborhood' but they don't live on that block, they really don't know how solid the neighborhood really is & by law they cannot discuss issues about the neighborhood. Look at 'comps' in the neighborhood - remember detached houses are worth more than attached houses, raised ranches are worth more than cape cods, etc. Factor in the added value of established landscape. Regardless of what the current owner paid for the house originally - they still need to live somewhere - so they need to get the money out of the house that will put them into a similar property somewhere else. If the seller doesn't like your offer they will reject it. If you hold to a low offer the seller may have someone else already interested in it. Your realtor doesn't know all the offers on the house, they have only partial knowledge. If you like the house - look at your finances - without everyone pressuring you & decide if you want to live there & make your offer. When you stop being a 'buyer' & become an 'owner' you'll reaize Life is really better as a 'owner'. Good Luck - Of course I have a house for sale on S.I. Contact me if your interested ina detached house in Manor Heights. Glad you''re buying a house on Staten Island - it is great , hope you enjoy it for years to come.
0 votes Thank Flag Link Sun May 17, 2009
Ask your realtor if he or she can find out a justified reason for the price increase? Seems a bit odd. I have seen this happen in many towns, only for the owners to eventually drop the price back down to the original listing price in a matter of 2-3 weeks. This could happen to this house, so beware. Especially in this market. The Northeast is finally feeling the housing bust and prices are falling and will keep falling thruout the year. Also, with the govt. pausing the foreclosures of some 3 million homes (for now), they will eventually hit the chopping block & when this happens, it will take another whack at the markedt and prices could fall again in 2010. I would go with the 430K price and start from there. YOU have nothing to lose but your money!!!
0 votes Thank Flag Link Mon May 4, 2009
Distinctly possible, but the jury is still out.
0 votes Thank Flag Link Mon May 4, 2009
Is Kathleen Gold the new Dallas 911 realtor?
0 votes Thank Flag Link Mon May 4, 2009
Hi Joanne,
You should forget $430K and base your offer on the new $459K price. If you need assistance in formulating an offer just call me, Bob, 718-967-2600. I can work for you as a Buyers Agent or with you as a Brokers Agent. Call me at VIP Real estate, 718-967-2600, and I can explain the differences in representation.
If your a 1st Time Home Buyer* you will get a $8000 gift from the USA this year!
Call Bob 718-967-2600 or my cell 646-872-7700.
Bob
0 votes Thank Flag Link Mon May 4, 2009
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