Home Buying in Nyack>Question Details

Adam, Home Buyer in Dumont, NJ

In rockland county NY what is the typical offer price from the list price? ex)10% below asking, 8% below

Asked by Adam, Dumont, NJ Tue Aug 19, 2008

asking, etc..

Help the community by answering this question:

Answers

8
Nancy Blaker Weber’s answer
Dear Adam,

There is no hard rule of thumb answer to your question. What you need to do is study what other comparable properties have sold for , and that should help guide you in your opening bid.
Web Reference: http://www.nancybweber.com
2 votes Thank Flag Link Tue Dec 14, 2010
There is no exact statistic to follow here. You need to factor in the following:
Length of time on market and all price reductions. I have been in involved in sales that have closed at list price, and others that have sold 100,000 below list. Carefully examine the history and the market to achieve the answer on a case by case basis.
Web Reference: http://www.nancybweber.com/
2 votes Thank Flag Link Sun Aug 29, 2010
Hi Adam, There is no typical discount number. I recently did an analysis of all the homes that sold in the last 12 months in the Pearl River School District between $500K-$700K. The average decrease from asking to listing price was near 15%--(I took out 6 outliers). However, there were 3 homes that sold in 30 days 34 days and 34 days; all 3 sold for within 3%-5% of asking price. There were a few homes on the market for over 400 days--and these sold for a discount of more than 25% of asking price. This data shows the real driver of time on market is the houses price. Since we are in a Buyers market with plenty of inventory out there, the house has to be priced appropriately to get attention and offers. Houses that are priced too high will languish on the market for a long time. As a potential buyer, you are in a great bargaining position. If you are not working with an agent, I would love to work with you. If you are working with an agent, get out there pick the house you are most interested in and make an initial offer to start the negotiation process. Good Luck
1 vote Thank Flag Link Sun Nov 16, 2008
There are a couple factors to consider:
1) History- How long has this property been on the market & at what price.
2) How much did the owner pay for the property? Are they up-side-down?

Motivation is the key!!! I good agent can help you!

Marty Remo
http://www.RemoRealty.com
845-656-2527 cell
Web Reference: http://www.RemoRealty.com
1 vote Thank Flag Link Fri Oct 24, 2008
Adam,

There is no "typical" offer price. What is most important is what the most recent comparable home sold for. If a house is well priced, as compared to recent sales, buyers see the value and make initial offers close to the asking price. In some instances, (2 in the last 3 mos. for me) buyers paid full price and above asking price on properly priced homes. If you truly like the house, and the comparable sales are there, make a strong initial offer. Well priced homes sell fast and often at asking price.

Good Luck!
1 vote Thank Flag Link Thu Aug 21, 2008
Really depends on several factors including:
1) Days on market at current price
2) Days on the market as a whole
3) Seller's personal situation- every seller's motivation is unique (i.e. Divorce, Short-Sale, Unemployment)
0 votes Thank Flag Link Tue Dec 14, 2010
Hi Adam,

We were just talking about the home prices in Rockland. There are areas such as New City ,Nanuet, due to the excessive number of inventory, the homes stay in the market longer and sells about 8% below asking. Remember, agents price homes to sell these days due to market condition and bank restrictions. Rivertown community is holding the prices pretty strong.

Please let me know if you have any more questions.

Regards,

Flora
0 votes Thank Flag Link Mon Jun 15, 2009
Adam,
As stated before it all depends on the home and it's desirability. You can offer anything and these days you won't insult anyone but to be fully informed and protected having a buyer-broker/agent on your side is the way to go.. (usually there should not be any added cost to the sales price or to you as the seller pays the commission that is agreed to prior to listing but definitely ask as a few agents do charge a fee.
Web Reference: http://joliemuss.com
0 votes Thank Flag Link Fri Nov 14, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer