Home Buying in Affton>Question Details

Majid, Home Buyer in 63109

Can the price be any lower?

Asked by Majid, 63109 Sat Nov 1, 2008

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Without clear context re this question it is difficult to answer. Prices can be lower and certainly from November of 2008 they have decreased significantly. If you are wanting to know informtion about prices in a neighborhood it is good to have an agent run what is called a CMA (comparables). This will give you an idea of what a certain house may be worth. Also, our company has a way of showing on graphics what has happened in a neighborhood over a year or two year period. It will show the trend and if the market seems to be going up, down, or leveling out along with how many days of inventory are on the market. This all seems to help determine the price of a house.

Now if you are already in contract and seeing if a price can be any lower, this will depend. If during your investigation you have found certain items you were not made aware of until your investigation you certainly have a right to ask the seller to lower his price.

Again, not knowing the full context of your question, it is slightly difficult to answer. If you need to know more specifics I would be happy to try to assist. Please do not hesitate to contact me. Rose Nied, Alain Pinel Realtors, (510) 530 7011
Web Reference: http://www.apr.com/rnied
0 votes Thank Flag Link Sat Feb 20, 2010
sure.. the price could be higher too.
0 votes Thank Flag Link Sat Feb 20, 2010
Alan May, Real Estate Pro in 60201
Since this was asked in 2008 yes, prices have gotten a LOT lower.

There is always room to negotiate on price. If the owner will not negotiate, there are always more places for sale. There is never a reason to overpay.
0 votes Thank Flag Link Sat Feb 20, 2010
I agree with Dale. You realtor will do the comparables and the offer should be within 10%. Some seller cannot go lower because they have to pay their mortgage or need the equity for downpayment on new home. The situation with each home may be different. Let me know when you are ready to buy or sell a home. (314) 223-4687.
0 votes Thank Flag Link Sun Aug 9, 2009
Can the price of what be any lower? I'm sorry, but your question isn't tied to any home or anything to let me know what you are talking about. If you are asking if you can offer less than a list price, the answer is yes, even if it is a foreclosure. The owner (or bank) doesn't have to say yes, but you can always offer less. I would caution you though, not to give an insulting offer, since those typically insult the seller to the point where they don't respond at all and even if you put in a second offer later, they remember your name and don't want to do business with you.

When you are ready to put in an offer on a home, your Realtor should do the comps on the home to determine what the current fair market value in the neighborhood for similar homes in similar condition with similar amenities and in a similar location (ie does it back to the dump, is it on a busy street, or does it back to 20 acres of common ground), then you should use that as your guide for what you offer on the home. Keep in mind as you do so, at what point you would hate to lose the home to someone else putting in an offer on the home that is just over yours - it can be better to start out at a fair price that is a win - win for everyone then to start out with a really low ball offer and then do a lot of negotiating back and forth to get to the same position over several days. At the end of the negotiations, the seller should feel that they are getting a fair price for their home and you should feel that you are getting a fair price for the home, if either side feels that they are being taken advantage of, the rest of the deal will not go smoothly.
Web Reference: http://www.yourstlhome.com
0 votes Thank Flag Link Sun Nov 2, 2008
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