Mike

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Mike, in 19020
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Nancy, Home Buyer in New York

if the asking price of a house is $584,000, what price range should i make the bid for in this market?

Asked Tue Apr 29 2008, 13:34 by Nancy  -  10305  -  Home Buying  -  8 answers
Mike answered:
Ask a realtor for recent sales data...be very specific that you are interested in only the recent 3-6 months results. realtors are paid on a percentage basis...a handful of unscrupulous types will want to show you 2007 results, which is before the market tanked. Don't be afraid to make a "ridiculously low" offer on a property, especially if its been on the market for a while...nothings moving, and sellers are motivated. Good luck! - Tue May 20 2008, 21:18
Robbie, Home Buyer in Rockland

When an area is a declining market, does that mean you pay more money for a down payment and closing costs?

Asked Mon Mar 3 2008, 18:41 by Robbie  -  All locations  -  Market Conditions  -  6 answers
Mike answered:
Bank of America is offering to pay many closing costs, and with only 5% down, no PMI. I just settled today, and they paid 2500 of my closing costs...Awesome! No pmi saved me 130 per month as well. - Mon Mar 3 2008, 19:35
Jamess R Far…, Just Looking in 5324 n 12thh st Phil...

how do I discover who owns aa property thats in disrepair that I woulld like to purchase?

Asked Sun Mar 2 2008, 06:05 by Jamess R Far…  -  Philadelphia  -  Home Buying  -  8 answers
Mike answered:
in philly http://www.hallwatch.org Great info site! - Mon Mar 3 2008, 19:26
Barb Duff, Home Buyer in Michigan

Can I find out the exact amount that a particular house sold for? It was within the last 5 years.

Asked Mon Mar 3 2008, 17:44 by Barb Duff  -  All locations  -  Home Selling  -  3 answers
Mike answered:
In Philly? http://www.hallwatch.org is an excellent site. - Mon Mar 3 2008, 19:21
tlw, Just Looking in 19104

What is the average difference between the listing price and the selling price?

Asked Mon Feb 25 2008, 16:17 by tlw  -  Philadelphia  -  Market Conditions  -  5 answers
Mike answered:
Ask your realtor to show you comparable sales for the past 3 months, and you'll get an idea of what an area is worth. The way the market is, to go back prior to 3 months ago will give a false sense of worth. Homes have, for the most part grown stagnant in value, and in many cases, are decreasing in actual selling price. I'm not a realtor, but am a VERY recent buyer. I looked around for 2 months, and then bought a 190000 list for 176000. Remember, a realtors pay is a percentage of the selling price....Its not in their best interest to tell you that you can bid low....Stick to your guns, you'll know the right house and price when you find it.. - Mon Mar 3 2008, 19:18
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