Home Buying in 94541>Question Details

ashley_rson, Home Buyer in Union City, CA

What should be the offer price for this house?

Asked by ashley_rson, Union City, CA Tue Feb 5, 2013

881 Leonardo Way Hayward, CA 94541

This house is listed for 318,000. Is this possible to get a hold of this house by giving an offer of 330,00. I am looking for expert help. Will look to hear from some professionals.

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Answers

9
What you should do is have your real estate agent pull all the comps of recently sold homes. A comp is a home that is similar in size, style and condition. It should be within 1 mile of the home you are buying and have sold in the last six months. Then you should base your offer on those sold prices. Also ask your Realtor what they think you should offer if you really want the house. It is never smart to over pay unless you absolutely have to have the house.
0 votes Thank Flag Link Thu Feb 28, 2013
It certainly is. The market is very hot right now due to a limited supply of homes, this is a pretty standard offer. You should also communicated with your agent to make your offer more aggressive by limiting the contingencies. While the purchase price is the #1 reason for an offer to get accepted or declined, the other terms matter greatly as well.

Hamed Barakzoy
Realty World Acclaim
510-825-6722
0 votes Thank Flag Link Wed Feb 6, 2013
Well Ashley, it depends what the seller will decide after reviewing all offers on the table presented t them by their Realtor. When a Realtor Expert sits down to run the numbers for you after doing proper market analysis of the neighborhood where the home sits and most recent similar type Recent home sales in the area where the home is, checks in to see how many other offers you will be up against (if he or she can get the #'s from the listing agent), has walked the home to see what condition the home is in and ballpark estimating the repairs needed and lastly since it is the seller's market now-days, knowing your strengths as a buyer in terms of down-payment, your credit worthiness and loan type ( he or she knowing what type of buyer sellers prefer to choose) then after all this homework, he or she will suggest to you what to offer ONLY to try to help you win your offer in this low inventory/multiple offer market.

Your Realtor is your Advisor and a Pro so if you have a good business relationship with your Realtor, you should trust his or her suggestion and opinion But if you feel uneasy, funny and find it hard to Trust your Realtor then you should make a decision as to who you wish to work that you can feel easy and trustworthy with as ultimately, it is going to be a big purchase and it means a lot to you.

Hope this helps!

Sujita Kumar
Email: sujitarealestate@outlook.com
510-258-5682
0 votes Thank Flag Link Tue Feb 5, 2013
Hi Ashley, in your response below you asked for any suggestions or insight?

Suggestions:
Listen to your Agent!

Insight:
There has been a drastic drop in supply for detached homes in Hayward. In Jan 2011 we had about 4 months of supply taking approx 45 days to go Pending. In Jan 2013 this dropped to 3 weeks of supply taking approx 18 days to go Pending.

From a "Months Supply of Inventory" perspective that's an 83% drop!

-Steve
0 votes Thank Flag Link Tue Feb 5, 2013
Ashley - simply tell your agent what you want to offer.......if she refuses to present it, then find an agent who will.

You'll soon find out if your agent was right or wrong with her advice.

Make the offer - if your market is hot, as many are now due to lack of inventory - don't waste any more time on the internet asking strangers for help and advice......no disrespect intended, but we really can't tell you what the seller will or won't accept.

Make the offer!

Good luck!
0 votes Thank Flag Link Tue Feb 5, 2013
Hi Ashley

Clearly you need to get in touch with a Realtor who can work with you.
I believe your budget of $350k is just fine

Good luck
Perry

408-656-5343
0 votes Thank Flag Link Tue Feb 5, 2013
Hello Ashley,

When looking at the homes in the area it looks like the home may or may not appraise at 330k. It really depends on how much you are putting down. Right now the most recent sales comparable with one bathroom just closed at 300k.

Most homes are having multiple offers that are bring up prices due to lack of inventory but in reality it is what the home will appraise for and what you, the buyer, are willing to pay for the property.

Good luck I hope you get it.

Samantha
bagwell.samantha@gmail.com
510-472-9151
0 votes Thank Flag Link Tue Feb 5, 2013
Well, whatever house I show him ( that I am interested), she tells me to place a high bid. So, if this house is 330,000 the bid should be 370,000. In fact, she will not spend any time on this house as my maximum budget is 350,000. Any suggestion or insight?
0 votes Thank Flag Link Tue Feb 5, 2013
Hi ashley_rson:

Your Realtor® should be helping you answer what offer price is appropriate in the CURRENT MARKET after performing a Comparative Market Analysis.

If you do not currently have a Realtor® please find one before making an offer on any property.

You should avoid Dual Agency! There are specific duties an Agent must provide. When one individual represents both Buyer and Seller conflict between two of the most important duties occur.

“Dual Agency: Why should I NOT use the listing Agent to buy a house?”
http://tinyurl.com/ajkjpuo

-Steve
0 votes Thank Flag Link Tue Feb 5, 2013
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