Asked by Pamela Russo, 07716 • Thu Apr 23, 2009
I got word from our attorney this morning that the Bank is countering $21,000 OVER list price. The house has been on the market since last summer. It was originally listed for $345,000, then dropped to $325,000, then in January it was reduced to $315,000. We offered $290,000. The $336,000 counter from the bank is in line with current neighborhood list prices, but there are no comps more recent than November - NOTHING is selling. First quarter last year, there were 85 homes sold in the town...this year there were 8, and they were ALL townhouses. In addition, home sold prices in our county dropped 8% last year, and continue to drop at a rate of 1% a month. We are thinking of countering the bank at $294,000 - does this seem reasonable?
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