Home Buying in Clifton>Question Details

Househunters…, Home Buyer in New Jersey

How much should we offer on a 350,000 home in Clifton with the market the way it is ? Its in the 07013 zip

Asked by Househuntersnj, New Jersey Fri Oct 17, 2008

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We would strongly agree that a real estate professional from the area with a strong knowledge base for the area and access to the most recent sales information, would be the best source of information. They will be able to provide comprehensive information that will support your offer that can be submitted with you offer to support it.
0 votes Thank Flag Link Sun Oct 19, 2008
Your agent is the BEST person to advise you. The formula is not zip code + asking price - secret number = price buyer will like and seller will accept. Despite the conditions you describe, when the house is priced well - in any zip code - it will command full price or more.

Your agent has seen the house, shopped the comps with you and knows your circumstances. At the end of the day - don't pay more than you want to pay for the house. Know your walk away price. The seller has a walk away price, too, don't forget that.
0 votes Thank Flag Link Sat Oct 18, 2008
We are working with an agent but i think a market analysis would help but only to a point. Sellers are desperate now, lenders are stricter now, houses arent selling as fast... Prices are going lower and lower as weeks pass on the same houses.....That being said, a house listed at 350 , what do you think we could get it for in the market the way it is now ?
0 votes Thank Flag Link Sat Oct 18, 2008
Are you working with a real estate agent? And if so, is that real estate agent also representing the sellers? If not, then this is something you should discuss in detail with your agent. They would be the best ones to answer that question because they can do a market analysis to help you to determine what homes similar to the one you are interested in are being sold for. You can then use this as a guide to help you establish the value of the property to you and make a reasonable offer.
Web Reference: http://www.i-teamhomes.com
0 votes Thank Flag Link Fri Oct 17, 2008
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