How much can you expect to pay under asking price in Western Mass on average?

Asked by Kevin, Chicopee, MA Wed Mar 3, 2010

Ive noticed a few homes I like in the 200k range, or a shade under. I cant afford to go this high, and havent found anything I like in the 180 range. How much fluctuation are sellers usually willing to budge on average in Western Mass? If the home assessment is below their asking price, are they usually willing to work with you? Are there any sites that list the original asking price and final selling price of homes?

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Anna M Brocco, Agent, Williston Park, NY
Wed Mar 3, 2010
BEST ANSWER
If you don't have an agent consider the services--there are no set standards as to percentages off when making an offer, however any fair bid will open up the negotiating table--you need to be aware of recently closed similar properties in the immediate area--factor in repairs, extensive or cosmetic--review the data and make a determination as to a fair offer. Do keep in mind that if a property is priced on target for today's market or slightly below, multiple bids can come into play--your agent can best advise you.
0 votes
Cathy Cooper, Agent, Ludlow, MA
Thu Mar 4, 2010
Kevin;

Again, if the house was listed correctly it should be accurate. As you know, it also depends on if it is a buyers or a sellers market. Knowing how motivated the seller is, may also help you.
Only the buyer knows how much he/she is willing to pay for a piece of property.

Good Luck,
Cathy
Winsor Realty, Inc
Ludlow, MA 01056
(413) 589 -7895
Web Reference:  http://www.WinsorRealty.com
0 votes
Tom Lynch, Agent, Great Barrington, MA
Wed Mar 3, 2010
Kevin,

If a property is priced appropriately, it may very well sell for asking price or close to it. There are no guidelines on how much you can "expect" to pay for a property... your best guide is a knowledgable buyer's agent who can provide you with comps on recently sold properties and advise you on the fair market value for a property.

A realtor can also advise you on how realistic your expectations are for the type of house you want in the $180,000 range.

Good luck in your search!

Tom Lynch
Associate Broker, Massachusetts and New York
Berkshire Property Agents
Great Barrington, Massachusetts 01230
0 votes
Andrew Adams, , 01915
Wed Mar 3, 2010
It comes down to how well the home has been priced and that will vary home to home.

What you need is a good Buyers agent that can assist you with finding what you want. A good agent may end up telling you...you won't find what you want in that price range. But at least you will know that you are looking for the needle in the hay stack.
0 votes
Dan Chase, Home Buyer, Texas City, TX
Wed Mar 3, 2010
If you offer 20% under asking price on a house that is 30% to high that becomes irrelevant.

Bidding a percentage under the asking price can get you to overpay for the house.
0 votes
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