Home Buying in La Jolla>Question Details

Wineman113, Home Buyer in La Jolla, CA

In this market with short sales, etc. how do you know what to offer on a property?

Asked by Wineman113, La Jolla, CA Sat Aug 6, 2011

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Mostly, it takes knowing the market. However, having the backing of a strong brokerage and developing a relationship with the listing agent can help too. Most importantly when crafting an offer, it is about listening to the client and weighing the value of the home in dollars vs. the value of getting or not getting a deal done on a specific property. Finally, your agent should know how to handle dealing with the bank, where necessary, to make sure the short sale goes through, and in a timely fashion.

Wineman? Love it. I wrote the wine column for the La Jolla Light for a number of years.

0 votes Thank Flag Link Sat Aug 6, 2011
First thing you need to know is what is it's worth as in this market asking prices are irrelevant with respect to what the property might sell for. There are properties that are intentionally under-priced to generate offers, and those that are over-priced that will not appraise. A good agent will prepare a CMA and comps from other like sales and help you determine the price very close to actual value. The appraisal will provide the actual value. You should not assume that a full price offer insures that you will get the property.

Jay Becker - Senior Real Estate Consultant
Lux-RE-Homes - http://www.OWN-SD.com
Office: 858.222.4321x7 | Mobile: 858.335.4235
0 votes Thank Flag Link Thu Jul 4, 2013
PS: visit http://www.SDSaleComps.com to see what homes in the area are selling for.
Web Reference: http://www.SDSaleComps.com
0 votes Thank Flag Link Sat Aug 6, 2011
A home is only worth what a person is willing to pay. The only person in the world who knows how much that is, IS THE PERSON WHO ENDS UP BUYING IT. We can make an educated guess based on what other people have paid for similar homes in the area recently, but at the end of the day, it's just a guess....

To answer your question...

Don't play games... Submit your best and final Price. In most cases, you are going to be in a "Multiple Offer Situation". You don't want to lose an opportunity to own your dream home over a few hundred bucks. Even if it's a couple thousand, that's pocket change in the grand scheme of things. Home prices will likely double or even triple over the course of the next 10 to 15 years. So who cares.... Just buy the dam place now... Before someone else does!!! Submit your best price and if it's not good enough, you won't have any regrets.

Good Luck! Let me know when you need a good agent to represent you! http://www.858-539-1848.com
Web Reference: http://www.858-539-1848.com
0 votes Thank Flag Link Sat Aug 6, 2011
Good Mornin g,
There are short sales in all markets now, however an experienced agent can give you the comparative market value for the home you are interested in purchasing. Additionally, an experienced agent does his/her
homework with the listing agent to try to determine the seller's motives, or in the case of a short sale hopefully the listing agent has an idea of what the bank is willing to take. This is not a guarantee that the
bank will accept the offer always, but an again , an experienced agent can help you navigate this difficult
market place and help you purchase a home for the best value. Always remember, the value of a home, is determined by what a buyer is willing to pay. If I can help you further, or you have additional questions, La Jolla is one of my primary markets and I would be happy to help guide you. Andrea Gilbert,DRE01453644 Andrea Gilbert a nd Associates Prudential California Realty TEL: 858-945-1312 , email:andrea@andreagilbert.com
0 votes Thank Flag Link Sat Aug 6, 2011

Lately when Im showing short sales, When entering the property you can usually tell right away if the listed price makes any sense. Some of them I know that the price isn't where it should be and other's its a great deal.

You would have to view each one to know if the listed price matches the neighborhood and mostly the property.
You have to keep in mind also that sellers and selling banks will not do any repairs so you have to take that into consideration when making an offer.

Are there any particular short sales you would like to view?

Web Reference: http://www.NickRuiz.com
0 votes Thank Flag Link Sat Aug 6, 2011
The WORTH of a home is determined by what the Buyers are willing to offer.
The Offer is determined by a CMA, (Comparative Market Analysis) which is done by your Realtor.
It is an analysis of the SOLD comparable properties in the vicinity.

Please contact a Buyeer's Agent for details,

Good luck and may God bless
0 votes Thank Flag Link Sat Aug 6, 2011
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