No matter what the details of that question, the answer is the same:
Find a good agent with whom you feel comfortable. Make that agent your one and only buyers agent. Sign a Business Relationship agreement with them for a specific period of time (I like to use 3-6 months) and put them to work. They will be in the best position to get you all the details that are available on ANY home you want to know about. Your previous answers give you some good insight into how they will do that.
By signing a buyer agency agreement you give your Realtor the legal right to work for your best interest. Otherwise, EVERY agent you call is WORKING FOR THE SELLER no matter how nice they are to you and how many hours they spend with you.
In most areas around the country it should not cost you anything more than your loyalty to "hire' your buyers agent. Why turn down a free service that could save you thousands of dollars and a huge amount of work?
The question you should ask is.... are you interested in this home enough to make an offer? If so, have your agent pull up the comps for you (and get the history about the house --- when was it sold last, for how much, and what is owed on the property).
Armed with that information, you and your realtor can gauge what price is reasonable. You'll never know what the seller will accept. Most agents will tell you to submit an offer, and see what happens.
After a year, the seller may be more inclined to negotiate. But what will they negotiate if there's no offer on the table?
Best of luck!
Basically, we Realtors all agree. The only way to find out if the seller is willing to negotiate is to make an offer at or just below the fair market value of the property.
Sounds like you have a basic idea of the value. The best way to determine fair market value is to seek a knowledgable Buyer's Agent to represent you , research the property and discuss an offer and terms that would be in your best interest.
Offers can be a very funny thing ... there is the "real" and there is the "perceived", many consumers end-up only hearing about the perceived offers ...
Real offers are from buyers that are *approved* - not qualified .. real offers are from buyers that can close in the next 30 days - not sell their home in Grand Rapids first .. real buyers are locked and loaded and ready to go - not waiting for graduation day in the year 2010 .... anything else is perceived - and almost worthless. .. no takers after all this time.
Loretta makes a good point here: "Just because a home is listed does not mean that it is in the correct range for comps..." ... comps can be nothing more than Papier-MÃ¢chÃ© if you as the buyer aren't looking, seeing, feeling and actually walking through them ... depending on the area, some comps can be $150,000 apart and only be 500ft away....
Everything is life is negotiable and this one has been on the market for 350ish days ... do your homework and be patient, find a figure you feel very comfortable with - then start your offer 10% less than that ... you can always go up.
Good luck and happy hunting.!
Times change and approaches differ.
More than once we have had someone say...I would never accept that!
Until "that" goes away...and 3 months later "that" cant be found.
"My 2006 appraisal said $-----"!
Experience offers clarity....potentially.
Have you considered the home could be so heavily mortgaged they feel they cant reduce it?
In any case...all the answers you get here are interesting.
Only action will get you insight...and maybe your house!
Your Neighborhood Professional
It doesn't matter at all if they have had other offers. This is one of those questions that buyers are "taught" to ask from their friends and family. It doesn't make a bit of difference. If you like the house and you have an agent to work with, use their expertise to make a good, strong offer and get the house you want!
Best of luck!
Oakmont is a beautiful area!!!