Amy Bernhardt-Moore

Hi, Meredith. Your potential home is listed in a declining market.
Ask your realtor (who is representing your interests) for a market analysis on the home including all comparable sales within the last three months. Any sales beyond may be too high, but if the comparable sales go back six months or even a year that is okay. Just be sure the most recent sales are included in the analysis.
Use this range to guage the market value of the property and bid below that. The actual amount below is your decision. Discuss with your realtor the issues you believe need to be corrected (i.e. the paint and light fixtures) and get a rough estimate on replacement costs (including any labor for hiring contractors to do the work for you.) Deduct these costs from the actual market value and you have your highest bid.

The odds are in your favor in this market. If the seller declines your offer you can continue to look at other homes.

Whatever you decide good luck finding your new home! - Thu Aug 7 2008, 08:36

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I have an awesome 1 1/4 acre board of health approved lot across from lovely Tymor Park! Check it out on my website for more information and photographs. Thank You! - Fri Jul 25 2008, 11:06

Search for homes in the city and state of the home you are comparing. Select the same number of bedrooms, baths and square footage. Choose the homes that are the closest match. Unfortunately your results will be limited to those included on this site and only the homes that are actively for sale. For the best comparable properties consider consulting a local realtor who has information on recent local sales. Another advantage to working with a local realtor is that he/she may have seen the properties firsthand and knows the interior conditions as well. Good luck with your search! - Thu Jul 24 2008, 07:05