Josef

I'm a:	Just Looking
Location:	Kensington

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Is offering 20-25% below asking becoming a reasonable play in this market, at the $800K to $1.3M price range?

Asked Wed Sep 26 2007, 15:12 by Marcus - Bethesda - Market Conditions - 6 answers

Josef answered:

You can offer any amount you like including placing bid for 25% less than asking price.
Seller's acceptance of your offer depends on the number of factors such as how quick they need to sell, how long seller can sustain mortgage payments. etc.
Give it a shot and see what happens. You can search for foreclosure or short sale houses even though in this price range you might not see hardly any.
Use zillow.com for quick value estimate. Use MD Tax and Assessment Department real property search to see when house was purchased and for how much.
Someone who purchased house years ago will be more wiling to take cut of its equity and accept you low ball offer vs. someone who just got the house 1-2 years ago. - Sat Mar 29 2008, 07:03

I have a rental property in the 20814 and want to get equity out. Possible in today's market. Interest only?

Asked Tue Mar 4 2008, 08:39 by Perry - Bethesda - Market Conditions - 8 answers

Josef answered:

Getting equity loan is not that hard. interest only is available as well. credit unions give you the best deal if you are a member of one, say, navy federal.
be aware that if market value of your house is declining, then amount of equity loan might be less then that you might think.
if you good credit, solid job, getting equity loan should not be a problem besides the vlaue of your home. - Sat Mar 29 2008, 06:56

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