Home Buying in Corte Madera>Question Details

Halley S., Home Buyer in New York, NY

How do I know if I should offer more or less than the listing price in Corte Madera?

Asked by Halley S., New York, NY Mon Apr 23, 2007

Is there a difference if I'm looking for a single family home versus a condo, or some other type of property?

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Answers

6
Hi Halley,

You asked in Apr 2007. I hope those 2008, 2011 answers are still useful.

Andy
0 votes Thank Flag Link Wed Aug 10, 2011
Look at the 7 days trends in the market to see if homes are on the uptick or downtick. Then, as mentioned, look at days on market for the property. And finally, look at the agent's pricing history of their listings, which your agent can pull from the MLS. Some agents intentionally list low (to drive interest, offers, track record), while others list high (to simply get the listing) and yet others list right at market value (trying to get the most $ for their seller in the most reasonable timeframe).

I also recomment you agent doing an estimate of market value/CMA on the property you're looking at...Try to understand why the listing is at the current list price. That will help you understand your options and a strategy path for your offer. In the end, talk with your agent.
0 votes Thank Flag Link Thu Jun 23, 2011
Corte Madera, has always been in one of the strongest local markets in Marin; ranging from low 20% to mostly a strong sellers market from 2004 and on; with weekly pending rates ranging from high 20% to mostly 50-60% pending up to 80% pending. Granted the inventory is lower (mostly 20-30 house available), but the fact is it stays as a sellers market throughout the last few years. On 1/1, the rate is 50% peinding, however, with the new inventory after the new year, there are now 18 houses on market with 4 pending .(22%), so it's now in a slight buyer market, but I am sure it will go back up soon.

All this is trying to paint a picture of the desirabily of Corte Madera. The best thing to do, for Corte Madera and other areas, like the pros mentioned below; is to find a reliable Realtor who are familiar with the area, to provide you with the comp and an analysis about the specfic property you are interested in and go from there.

There is never a set formula for offering more or less for any property in any area at any time. Each property is unique.

Sylvia
0 votes Thank Flag Link Fri Jan 18, 2008
Sylvia Barry,…, Real Estate Pro in Marin, CA
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Halley, I agree with Kevin's response. What I would add is that you make sure that you work with a Realtor that lives in Corte Madera and/or specializes in Corte Madera. The best way to find out if you should offer more or less than the listing price is to have your Realtor show you the comps in that area. This will give you a strong idea as to what the price range should be. Other things to consider are condition of property and length of time on the market.
0 votes Thank Flag Link Fri Jan 18, 2008
Look for days on the market. Chances are if the property has lingered, there could be an issue which may be related to price or value. In some areas of Corte Madera we are still seeing multiple offers. In working directly with your REALTOR, they should be able to gauge whether you are looking at a hot property or one that has a little wiggle room. There is really no difference for condos vs. single family homes in this regard. Properties that are well priced, well located and well presented are the first to go.
0 votes Thank Flag Link Fri Jan 11, 2008
It doesn't matter what kind of home you're buying in Corte Madera; you have to look at the comparables of recent sales and current actives to determine if the price is right. Use all the normal gauges: location, size, amenities and condition, then look at the Days on Market. From that your agent will help you decide what the best offer is.
0 votes Thank Flag Link Mon Apr 23, 2007
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