Katherine,

It's impossible to speculate if this offer is a fair one without access to comps for recently sold homes in the general vacinity. Additionally it would be helpful to know the true value of the land. The condition of the home may be of little consequence it the land has significant value.

If the home's asking price is a true reflection of the market in this location, a $295,000 price drop may not be fair. On the other hand if the comps indicate the asking price is inflated, you may not be too far off the mark....

What is your agents recommendation?

Good luck

Hi Katherine:

I know the property you are talking about. What find and what great potential!

I would love to help you with getting the best deal on the house. I have been extremely successful in helping my clients doing just that in this market locally.

Please email me or give me a call and we can discuss pricing and strategy in making the offer if you'd like.

Thanks,
Sylvia Barry
Frank Howard Allen Realtor
(415) 717-0293

Katherine,

Prices of homes vary for different reasons. You could be in not great location with a fabulous house and get more than your competition and you can be a terrible home in top location and get more than you would expect.

Bottom line, the question is very subjective and giving an answer will be impossible without more knowledge of the area and actual visit to the house.

Find a local realtor (I would not recommand the listing agent) and find out what will the market bare for that type of home in that location.

If you need help finding a realtor in your area you may contact me. Remember, you can always offer and the seller can say no. If you don't try you will not know.

Good Luck!
Karen Abramson

Katherine,

I absolutly agree with Patrick.

Katherine, if you are not working with a Realtor, I can get you in contact with a Top Realtor. My connections are not just state wide or nation wide, my connections are world wide.

Please do not hesitate to contact me anytime.
ETSellsVegas@yahoo.com
702-375-5912

Very truly yours,

Edgar Theisen, REALTOR ABR, GRI

No one can answer this question without knowledge of that market and in-depth research of the property history and location, including nearby recent comps.

Your agent can advise you of the property's market value and you can use this to work out your offer. What the seller is asking for a property sometimes has nothing to do with its value.