If their home is "under priced" as you claim, then just sit back and watch it sell - probably with multiple offers - probably over asking price.
You can sit and watch that happen, or...............you can get in the game and compete with them.
Lower your price.
What they (or you) paid for the home has nothing to do with what it will sell for in today's market.
Their motivation to sell is certainly important, but....I would hope that you're equally motivated.
The fact that it is 500 sq ft larger than your home DOES matter.
How does your home "show" compared to their home?? That matters, too.
If you take your home off the market (don't see any reason to do that), you will still have to deal with their sale price.....if they ultimately sell for less than 500,000 it will set a "comp" for the neighborhood which will make it harder to convince a buyer, or more importantly, an appraiser, that your (smaller) home is worth more.
Hello my name is Paul Bouchard and have been a builder since early 1980s, and a modular builder since 1990. And first licensed to sell real estate since 1985, and presently am still Lisenced and selling as well as helping people but develop land and develop my lots. In all these efforts I have developed and built stick built , modular and panelized. And if the modulars are built with proper specifications they are being appraised for newly built or resale at the same values as others homes of the same spesicication. Of course the exceptions are when they are built with poor spesicication (roof sheathing, floor sheathing etc ) or if the company builds in a less than exceptable building methods (starting with poor base materials and building methods) or if a home has been neglected and it resale value reflects the condition. Actually most good manufacturers build their homes much much stronger to be able to sustain the transportation. Also there are differences in how one manufurer build versus another so it pays to do a factory tours to see which manufacturer you like. So feel free to develop your home with a modular , BUT if it is a quality home you are likely to save no more than 5% to 10% if all goes well
Paul M Bouchard Lisenced through Heer Realty and builder dealer for Westchester Modular and Signature Building Systems. 518-3691914. PS My next modular in the NY Capital District area is in a October on one of my lots that I recently sold to a customer.... more
I really just don't understand what these values and computations actually mean? For example
Under the Value area it has Market. So does that mean based 2011 market data my property taxes are based on a market comparison of $78,623????????
Also the assessment area???? Does this mean the cpublic records are stating that the an appraisel was done in 2011 and the assement of my property was $1,160 and the improvements that I made are $10,850???
As others have already said, Trulia doesn't accept FSBO listing submissions. However if you choose to work with either a full service or flat fee broker or agent, he or she can submit your listing to Trulia via the link below.
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Give me a call at 518-330-2230 or email at firstname.lastname@example.org and let me know what you are looking for and what $ range you would like to stay in. I will provide you a list of homes that meet your criteria. I hope to hear from you soon.
Jason Bustelos; LREB
New York Realtor Group, LLC
Find a Realtor in your area who can not only find you properties but connect you with a lender. Lenders can help you figure out what you can afford and can even give you advice as to what you need to do to qualify for a loan later down the road if you don't qualify at present. Don't forget that there are also tax breaks for owning versus renting.... more
I agree with several agents below. You need to sit down with a professional and compare the two homes. The agent you are working with might not have done this for you. Often, agents ask the seller what price they are looking to net, and then use that as the listing price, without taking into account the market absorption rate of the area. A professional agent will pull all those numbers and sit down to explain them to you. You should also look for someone who is very proactive in their marketing. For instance, we go door knocking every weekend, as the market has shown us that often times neighbors know of someone looking to get into the neighborhood. If you need anything, don't hesitate to call me at 724-5831 or email me at BobEberle@KW.com. www.TeamEberle.com... more
The only way to answer your question is with more questions. Did your agent do a market value analysis to help determine the correct price for your home or is that your price based on what you feel you need. Is your home priced right? What is your asking price per sq ft vs other properties on the market or recently sold. For example if a similar condition home in the neighborhood is 1800 sq ft and another 1750 sq ft and sold for 207,000 & 204,500 (same number of bedrooms & baths etc.) that is approx $116 per sq ft. If yours is 1875 sq ft X 116 =$217,500. Have the buyers offered reasons for their lower offers? Do you need a new roof or is your furnace older? The bottom line is that although you set the asking price of your home, the market conditions set the value of your home. First through the buyers eyes & then through the appraiser & bank's opinion. If your home has gotten several offers $20,000 less than your asking price then that is what the market is telling you is the current value. On the bright side consider this. If you are planning to purchase a more expensive home, that home is also worth less in the current market. 155,000 -20,000 =13% less/ new home at 250,000 minus 13% =26,000 You actually save $6000 by buying now!!... more
Great question! I am hesitant to generalize here, not knowing your specific situation, but a closing should occur within 45 days in a perfect world! The attorney's i typically work with in the area are communicative and efficient....Thanks, Ken.......... more
The Troy rennaissance is becoming a reality! It is expanding northward from the business district with restaurants, clubs, offices, arts, and loft apartments. With it's unique architecture and convenience to other major areas this change can be a longstanding improvement to the entire Capital District .... more