Home Buying in 60464>Question Details

Josh, Other/Just Looking in Palos Park, IL

In today's economy, how much can you negotiate for a house in Palos Park, IL? Percentage-wise?

Asked by Josh, Palos Park, IL Thu Mar 3, 2011

For example, a house that is $410,000. How much can negotiate, percentage-wise?

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6
BEST ANSWER
Well ... if only I had a crystal ball! You will want a Realtor who is solid on their negotiating skills that is for sure! The best that I can do is to tell you that in the past 6 months, of all the single family detached properties listed in the MLS that have sold in Palos Park, Illinois ~ They closed averaging 90.77% of their Final List Price (FLP). This reflects a 9.23% difference between property sale prices and their FLP's.

Hope this helps!

Linda Dressler, REALTOR®
SRES, ADPR, SFR
'Helping from the Heart'
2 votes Thank Flag Link Thu Mar 3, 2011
The list price vs. sold price varies from 87% to 89% of ask price. I can help with your real estate. Just reach out to me at C# 708-715-0136.

Hope this helps.

Jim McLaughlin
C21 Affiliated Protem
12932 S. LaGrange Rd.
Palos Park, IL 60464
(between McDivot's Sports Bar & Francesca's Restaurant)
0 votes Thank Flag Link Thu Jun 6, 2013
If a house was listed at a realistic price that reflects both the location and condition, the seller may not have a lot incentive to agree to a large price reduction. Offers financed with 10% down payment or more have better negotiating position than FHA, 3.5% down offers. The main thing is how the asking price was structured, if it is in line with other, similar properties in that area that have been sold in the last 6-12 months. The larger "disconnect", the greater potential for negotiation a larger reduction.
0 votes Thank Flag Link Sun Mar 6, 2011
Josh-
There's alot of truth to all those answers, but keep in mind Palos Park is very hard town to price correctly and is not a cookie cutter community. I have lived and worked in Palos Park my whole life and have been in most of the homes that are bought and sold... glad to offer my services should you ever need a local expert?
Jason-
RE/MAX 10
708-476-5381
0 votes Thank Flag Link Thu Mar 3, 2011
Hi Josh:

I realize you are asking about a specific area, but the answer really does not change much no matter where you are buying. Some buyers are simply more motivated than others. This can depend on their need to sell as well as factors like time-on-market, location and price range. Here in Boulder County, CO, for example, the so-called sellers' market has evaporated in the entry-level portion of the market, but the middle and upper levels remain tougher on sellers. As such, entry-level sellers are holding the line on prices while other sellers are negotiating more.

Best,
Ron Rovtar
0 votes Thank Flag Link Thu Mar 3, 2011
Josh,
There is no exact answer for this. I have a lot of client that think this way as well. You base your offer off of what the house is actually worth. If its worth 10% of the asking price, then offer a little lower than that. But in some cases, like with foreclosures, its worth more, and the only way to get the property is going over list price. Each case is different, so your best bet is to work with an experienced buyers agent to guide you through the process. Working with an agent is free to you! I would be happy to help!

Matt Laricy
Americorp Real Estate
Brokers Associate, e-PRO
mlaricy@americorpre.com
708-250-2696
0 votes Thank Flag Link Thu Mar 3, 2011
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