Market Conditions in 19380>Question Details

Tom Caluzzi, Both Buyer and Seller in Miami Beach, FL

How do the market conditions in West Chester compare to the rest of the country? What is the average day's on?

Asked by Tom Caluzzi, Miami Beach, FL Thu May 15, 2008

market in the West Chester area? Is asking 15% off the asking price and the seller to pay closing cost's reasonable in a so called Buyers market?

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West Chester is a big area Steve. It includes several different townships. There is no answer that would be right for all of West Chester. Even in this so called buyers market there are neighborhoods that remain stable and are still getting a slight increase over last years prices. You would have to have your agent do the comps on the house to come up with what a fair price would be. 15% off a house that has already been priced right will probably not get you the house. Days on market also varies from township to township and neighborhood to neighborhood. Get a good market analysis and look at trends. Best of luck.
Debbie Haley
Weichert Realtors
610-620-3007
Web Reference: http://www.dhaleyhomes.com
0 votes Thank Flag Link Thu May 15, 2008
First, I would ask if you have a Realtor representing you in this transaction. As a buyer there is very little reason not to have an agent representing your interests since you do not pay their commission, plus they have a legal and fiduciary (financial) responsibility to you as their client. I liken it to going into court with out a lawyer. A good agent will know the answers to those questions. Plus if the seller is being represented by a Realtor, you are at a major disadvantage, not to mention the possiblity of being legally responsible for issue if you do not do the paperwork correctly.

Regarind the market -Chester county as a whole is doing very well. The average days on market in Chester County right now is around 80 days, and according to a report that was released today, West Chester's average days on market is at about 80 days.

As far as asking, it depends on the type of home and exactly where you are looking as to how homes are done. I can tell you that the average list to sale price ratio in west chester is around 96% or a 4% decrease from list to sold price.

As far as asking for 15% off the asking price - that also depends on a lot of details - in general and with out knowing the details, my first reaction is that that is too much off the asking price, plus paying the closing costs.

If you would like further help on this, please feel free to contact me - Chris LaGarde, with the Cindy Dickerman Team of Keller Williams. I am a Buyer Specialist. You can contact me by going to http://cindydickerman.com/meet_chris_lagarde
0 votes Thank Flag Link Thu May 15, 2008
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