Find a good buyerâ€™s agent, have them run the numbers for you and then take their advice for price. As youâ€™ve noticed from the responses below, Realtors who are following the Code of Ethics cannot give you a price in a forum such as this.
Itâ€™s a crazy market and in reality, the price of any give house is not the real issue. Whether or not you want the home is, in fact, what you should be thinking about. If you want it, you need to figure out what you need to do to get it. Haggling about the price will not do it. If the house is above your maximum price point or you feel itâ€™s worth too much, then have your agent submit an offer at the price you are willing to pay and see what happens. Truthfully, I can probably predict the outcome with 99.9% accuracy.
In an increasing market such as this, if the home sells at the list price or higher, then it will be the new comp for the area and the next home will sell for even more.
Here is a post that may be helpful:
Current Bay Area Market NOT A Bubble: Top 5 Buyer Recommendations
You have already said that the price is too high. What kind of advice do you expect that will be meaningful to you when you have already made your decision? My advice: move on.
Orâ€¦take the advice of several others and hook up with a local Realtor who can give you solid guidance for a possible fair price for this houseâ€¦or others if this one does not work out for you.
By the wayâ€¦this house was on the market in 2005 for $898,000 for 3 days and was withdrawn from the market.
If you don't have a Realtor, pick three and meet with them and discuss your needs and price range.
Have your agent communicate with the listing agent to get all the information possible, how many offers are there, has a deadline for offers been set, do they have inspections, etc.
Then have the agent you decide to represent you run the comps for you to show you what the value is lately in the Irvington High School area.
You must make a decision through knowledge, then you can make an informed offer.
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