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Wed May 14 2008, 17:40 - Salisbury - Home Buying - 5 answers
 
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Ed
Home Buyer
in Maryland
Ed, Home Buyer in Maryland in Maryland
Answers (5)
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Michael Elli… was FIRST TO ANSWER
You're going to get tired of hearing this....but yes, "It depends."

What if the property is already aggressively priced and is right where it needs to be?

What if this is a million dollar house where $30-50K is not a significant amount, whereas if it is $200K, that $30-50K makes a big difference.

You can't assume that these numbers are standards....talk with your realtor. Get the straight talk from someone who does this for a living and lives with these statistics and market trends day in and out. Trust a professional to guide you through this.

Good luck.

Thu May 15 2008, 02:51
 
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Hello Ed !!! It totally depends on the location and various other criterias.

Thu May 15 2008, 00:35
 
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Ed....

There is no set percentage or dollar amount you reduce from the listing price. It is important to have your Realtor prepare comp for you on what the other properties sold for in the neighborhood and how long this property has been on the market. Based on this information and upgrades to the home you will be able to establish an offering price. Good luck.

Wed May 14 2008, 22:04
 
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If the 30 ,000 to 50,000 amount is 10 to 15% off the asking price then I can tell you that on Long Island New York that has been occurring.The 15% or so can still get the sellers back up and stall negotiations but there is still a lot more sellers (inventory) than buyers so it should be taken with grain of and communications kept open

Wed May 14 2008, 19:38
 
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FIRST ANSWER
Good question Ed. The answer you would most likely to get would be "it depends"...on a number of factors such as location, condition, number of days on the market, amount of competing inventory in the area, price history of the listing, etc...As you know a home is only worth as much as someone is willing to pay for it...Give me a call anytime and I can give you the market data you need to make an informed decision and get a home for the best possible price!

Wed May 14 2008, 19:21
 
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