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Reo home in Riverbank listed @ $199,999 how low of a price should I offer?

Home foreclosed August 2007
Wed Feb 27 2008, 21:17 - Riverbank - Home Buying - 2 answers
 
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Amanda
Home Buyer
in Riverbank
Amanda, Home Buyer in Riverbank in Riverbank
Answers (2)
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Fred Kissing… was FIRST TO ANSWER
Hi Amanda,
I work in the area of Riverbank, my suggestion would be to have your Realtor run the comparables for the local neighborhood, especially keeping in mind who built what and what those are going for. In Riverbank you are going to find large price differences between Bright, KB, Morrison and Floresheim. Grant and Oski also have a couple developments there. In addition, how close is it to the Crossroads shopping center and so on.......

If you do not currently have an agent there are ways of obtaining it online, but as a buyer, we (meaning agents) are free. I could run the comparables for you and bring them to your house if you would like and help you make a better informed decision,


Hope this helps,

Nick Cameron
209-896-6775

Thu Feb 28 2008, 17:29
Web Reference: http://www.MoveModesto.com/
 
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FIRST ANSWER
Are you working with a Realtor? If not, I would suggest you talk with a one in your area. They will be able to advise you on the market, what the trends are with the REO solds and get comps for the area. They will also be able to help you decide what a good starting point would based on how long it has been on the market, how much the bank is losing and the condition of the property.

Good Luck!

Wed Feb 27 2008, 22:04
 
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