Rcl - sorry for being defensive in this situation. My husband and I have gone through a lot with this property. It is currently under contract. Thanks for the clarification, please accept my apologies!

I must defend myself. I meant $135,000 not $35,000. Sorry about the misunderstanding.

"The property address is 200 Evergreen Parkway, Glassboro, NJ. It is under contract as of today and we are out of attorney review today!"

Sorry but that is not the address of the home Roseann was referring to. You realtors are truly getting desperate. It is obvious to all.

LOL, Goat always makes me laugh with his anti-realtor jibber jabber. Very entertaining. Keep it up young man. Comedy is highly appreciated.

The property address is 200 Evergreen Parkway, Glassboro, NJ. It is under contract as of today and we are out of attorney review today!

For a visual tour of the property please go to http://www.visualtour.com/show.asp?T=1820946&prt=10003

Just to clarify - the countertops are Corion not Granite - I didn't want to misrepresent.

Bridget Cella
Weichert Realtors
609-352-1667 cell

"In my area, people who offer 40% below asking are not referred to as "buyers".



That's right, they are known as the "smart money" that walks from any deal not to their stringent specifications.

Folks buying now are known as "bagholders".

Daniels said buyers are playing it cool, offering 40 percent below asking price and walking away if sellers don’t cave.
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In my area, people who offer 40% below asking are not referred to as "buyers".

This thread has become comical. No address has been provided so no one knows what home is being discussed. Yet this does not keep an agent from claiming this mystery home and asserting that it is under contract!

LOL.

Yes, it is worth every penny! I am the one who bought it rehabbed it and is selling it. The home is on an oversized lot with possibility of subdivision. There were over $35,000 (your offer) in renovations including a new kitchen with granite counter tops, etc etc etc and 5 months of time. You should havbe seen the home before we got it. We are trying to make the world a better place to live, not rip people off.

BTW - it is now under contract!

Here is a bit of evidence from an article in today’ s SD Union-Tribune:

At the current rate, it would take nearly four months to sell all homes listed for less than $1 million. For homes priced at $1 million or more, the backlog stands at about 30 months, according to the San Diego Association of Realtors.

Obviously, the top end represents a small fraction of the local inventory. According to Zillow.com, 44,500, or 5.9 percent of the nearly 750,000 homes the online company tracks locally are worth $1 million or more. They are generally concentrated in coastal communities with a few scattered throughout the rest of the county.

But of the 13,010 homes on the local multiple listing service last week, 2,537, or 19.5 percent, carry asking prices in the seven figures. The National Association of Realtors reports that the national share of sales above $750,000 is half of what it was two years ago.

In San Diego County, the drop-off of sales of homes at $1 million or more is even more dramatic, down from 73 percent this year from 2006’s peak rate.

“I’ve been doing this since 1975 and never seen anything quite as volatile,” said Willis-Allen Real Estate agent Linda Daniels.

Daniels said buyers are playing it cool, offering 40 percent below asking price and walking away if sellers don’t cave.

“It’s wild,” she said.

Goat, you are just a troll, so I'm not going to waste the bandwidth answering you.

. . . and what a seller is willing to accept. Even though it's a buyer's market, there are two parties, a buyer and seller.

If the seller's idea of value has any consequence then why are they taking larger and larger hits on their realty?

Buyers determine price today not sellers.

Fair value is determined by what a buyer or group of buyers is willing to pay right now.
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. . . and what a seller is willing to accept. Even though it's a buyer's market, there are two parties, a buyer and seller.

If that is your top dollar then of course it is reasonable. Go make the offer. You are the one with the cash, right?


Fair value is determined by what a buyer or group of buyers is willing to pay right now. Dismiss these realtors that assert value is determined any other way. If rehab cost $10M would the property now be at least $10M? Nope.

Play hardball buyer. Yo can't just throw your money away on bubble priced homes. Prices will get much lower but first you must not hesitate in demanding a great deal.

The land is probably worth $35,000. Have you toured the property? How much was spent on the rehab? Are you being reasonable?

Reasonable? In my opinion, no. If you bought a home 6 months ago for 60k and put - lets say, 40K into it to refurbish it, and then dropped your price 10K so its lists at 150k - would you think an offer coming in at 35k is reasonable?
I'm just sayin' don't waste your own time. There are lots of great buys in NJ right now. I just referred a buyer to an agent in Whiting, NJ and she was able to find a $110K single family home for my client in her ideal area, when that model home usually sells for 165k and up. My client said she will spend about 20k to make some changes but otherwise she really saved a great deal of money.
There are fantastic savings out there, but you have to offer the fair market value. A good agent can help you figure out where the best buys are and suggest a offer. Utimately, the offer is always your decision, but remember, even in this extreme buyers market, sellers - especially those who are still fixing up homes and reselling them - will cut their profits, but not their own throats. Even short sales have to be approved by the sellers lending bank and they woundn't take close to half price on a house bought six months ago - with or without improvements.
You really need a great agent that specializes in finding the best "deals" in your local area and then rely on his or her expertise.

Best Wishes,
Anne Wanchic
The Real Estate Agent Referral Assistant

Hey Roseann,

I didn’t see any specifics on the location of the house in your post.

Feel free to give me a call. I would be happy to give you some further information.

John Agnello
Realtor®

Long & Foster, Real Estate Inc.
1415 Route 70E Suite 106
Cherry Hill, NJ 08034

(609) 320-6700 – Cell
(856) 310-9229 – Fax

Realtor® specializing in the sale and purchase of Residential Real Estate / Servicing the Gloucester, Camden & Burlington Co. areas.