Foreclosure in Katy>Question Details

Stephan, Home Buyer in San Francisco, CA

How do I know if I should offer more or less than the listing price in Katy?

Asked by Stephan, San Francisco, CA Mon Apr 23, 2007

Is there a difference if I'm looking for a single family home versus a condo, or some other type of property?

0 votes Share Flag Foreclosure in Katy

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The Katy market south of Interstate 10 is a sellers market. Multiple offers and sales above asking price are common on those properties that show well and are priced competitively. Buyers in this market benefit from working with a buyer's agent that is a strong negotiator and maintains a good working relationship with the area Realtors. Unfortunately, many buyers are swayed by the national media regarding market conditions and as a result often end up negotiating on several homes before securing one. The Katy market north of I-10 is feeling the effects of the sub prime fall out and numerous foreclosures. Savvy buyers can get a good deal in this market.
1 vote Thank Flag Link Mon Apr 23, 2007
I absolutely recommend you get a good Real Estate agent to assist you. If you need a refferal I would be happy to help you out.
0 votes Thank Flag Link Thu Sep 16, 2010
I am really sorry Stephan and Katy.

Kudos on your questions but this is not the place to get mom a start on Trulia and, by the way... where the heck is Katy?

0 votes Thank Flag Link Wed Nov 7, 2007
Stephan, you should also decide how bad you want the home. I just recently had a buyer not offer full price because she didn't think she had any competition and she did not get the home. Make a decision that you can live with, so that if you get it, you're pleased with the price and if you don't get it, you feel strong in your offer. It's all a balance and a risk, as is every negotiation.
0 votes Thank Flag Link Wed Nov 7, 2007
I would suggest seeking the advice of a realtor. We have tools and are trained to be experts in the market place. Each home buyer and seller are different, causing each real estate transaction to be unique in nature.
0 votes Thank Flag Link Tue Sep 4, 2007
I am hoping you are working with a local Realtor. They can and should provide you with comparable sales in the area based on the property you are making an offer on.
Web Reference:
0 votes Thank Flag Link Sat Aug 18, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
All real estate is unique. Each home must be valued by it's placement in the community and subdivision, the listing price and how the listing price sits within the average price per sqaure foot in the neighborhood, the days the home has been on the market and many other factors. You should work with a strong buyers agent who will help you research and read the market for any homes that you are interested in. Afterall, home in the same sub-division can sell the first day on the market or languish for months - all because of these (and many more) issues. Also, you must decide what the home is worth to you and how much you are willing to gamble. Ultimately, there is no formula, you must decide on the general market price and refine that number based on what it is worth to you.
0 votes Thank Flag Link Sat Aug 18, 2007
At this moment, we are experiencing what is known in the industry as a 'Seller's Market', meaning that there are an abundance of buyers and a limited supply of inventory of resale and new construction homes. Most of the homes in our Katy area are single family homes with privacy fencing and a majority are found in our master planned communities. However, several developers have introduced townhomes and they sold very quickly in our market so I expect more townhome development to follow. As for Condominiums, there is an exciting planned development for La Centera Phase II to include fantastic Condos, which will be a perfect fit for professionals moving to our area due to the mutiple medical centers and hospitals either completed or are in the process of being built along the Interstate 10 and Grand Parkway (99) corridor.
0 votes Thank Flag Link Mon Apr 23, 2007
The market determines the price a buyer should offer and this needs a licensed Realtor who is familiar with the local market and different neighborhoods within that market.
0 votes Thank Flag Link Mon Apr 23, 2007
You will likely be looking for a single family home here (about 98% of availability. Offer price will depend on catagory and subdivision...some are hotter than others. Make sure you have a great agent who knows the area.
0 votes Thank Flag Link Mon Apr 23, 2007
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