Home Buying in Farmington>Question Details

Carmen, Home Buyer in Maine

What would be a good offer on a home listed at 129,900 in todays market? The home is in excellent shape ?

Asked by Carmen, Maine Mon Mar 2, 2009

in town- has 3 bed rooms 1 bath and remodel kitchen with applianaces 2 y rs old? .77 acr.

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5
$126,000 assuming it is listed correctly.
On the merits of the home----1 bath,.7 acres,etc-maybe it should be more like $119,000---unless there are other variables not mentioned.
0 votes Thank Flag Link Thu May 5, 2011
In Farmington 129,000.00 is about average for a nice home. Is it right in downtown off of Maine street South? Or near the College. The neighborhoods behind the college seem to have higher asking prices than others. Also Property closer to Temple out near Titcomb, and Property on the Back side of the high school.

I don't think it's a bad price at all compared to what the prices used to be around here, however if you are planning on staying in the area there are some serious Steals in Phillips, and the taxes are cheaper! There is a beautiful house that was just renovated on Rt 142 outside of town going towards Kingfield that has River Frontage and a 2 car garage with a loft above. There are also a couple of Very nice places on Route 4 going towards Rangeley almost into Madrid. The property on Route 4 is a huge Renovated Farmhouse with garage, acerage and river frontage also. We have a property for sale in Madrid, but that may be too far for you.

There is a beautiful Victorian on the corner of Main Street and I can't remember the other one, but if you turn left onto maine street it's directly behind you, it's 3 Stories, and White, in Downtown Phillps it needs ALOT of work, but I think it's like 12,000.00 or something ridiculous like that. You could pick that up and turn it over....

Phillips elementary School has one of the best ratings in the state, and it's closer to Saddleback! WOOHOO Powder Days!! But Farmington is an awesome little town to walk at night...such a toss up!!! Good Luck!
0 votes Thank Flag Link Tue Mar 9, 2010
Hi Carmen - It depends on what the current market value of that particular home is. In my local market, most homes sell for about 95% of list. But I would never suggest to offer list price or a set percentage of list price without running comparable sales. And in this market, recent comparable sales.
The Listing Agent represents the seller and cannot give you pricing advice. Your best bet is to find an agent with whom you are comfortable, to represent you as a Buyer Agent.
Have them show you recent sales of comparable homes and give you pricing advice. It is true that well priced homes are selling even in this market.
Good luck and I hope you get the home of your dreams!
Margaret Mitchell
Coldwell Banker Yorke Realty
(207) 363-4300
0 votes Thank Flag Link Mon Mar 2, 2009
I agree. If the house is priced below or at current market value- You will have competition from OTHER BUYERS! I know where I work- at the Jersey Shore- when a home is priced right- it is receiving multiple offers- and receiving them fast!
Dont miss out over what could cost you $10 a month in the long run. Rates are down- prices are low- and its a great time to buy!
0 votes Thank Flag Link Mon Mar 2, 2009
Hi Carmen,

If this property is in good condition and has decent square footage, I'd advise offering asking price or close to it before someone else does. What's your hesitation?

CJ Dubois-Cote, Realtor
Prudential Prime Properties
445 Main Street
Saco, ME 04072
207-615-1663
cindy@prubay.com
0 votes Thank Flag Link Mon Mar 2, 2009
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