Asked by Tknguyen, 30092 • Mon Feb 15, 2010
Hello, I am interested in a foreclosed home with an asking price of 1.5 mil. I have been researching on Zillow and saw when the home was purchased and later demolished to build a newer one. The Listing Agent told me the offers they have had on the property are above 1 million with the last one being at 1.4 mil. My question is why isn't the house sold (been on the market for 8 months)? Can I ask the listing agent to show me the past offers? Since the house is located in a older neighborhood with value being around 300k-500k and no HOA, how can I determine the value of it besides the surrounding homes are sold for since most of it are older and smaller. The county assessed the taxes value of the home at 1.1million. No equity has been paid on the home since it is new, therefore it is hard to get a good deal on it, however I assume the bank should know that the value of the home has decrease. Also, is buying a new home in an old neighbor a good investment?
Real Estate in Norcross
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