Rich, Home Buyer in 46614

I am looking at a new home in Monument Colorado,

Asked by Rich, 46614 Mon Jan 21, 2008

the listing price is 449K, in todays market , how much should I bid??
What would be a reasnoble bid price.

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Answers

11
Brian Burke, Agent, Highlands Ranch, CO
Mon Jan 21, 2008
BEST ANSWER
It depends, is this the seller a builder? Meaning are there other incentives with the home? How long has it been on the market? etc. There are many factors determining what a good offer would be. If you offer too low (especially if it is owned by individuals - not builder) they get offended and will never consider your offer. Without knowing any specifics I would estimate to offer about 10% lower than the asking price.
0 votes
Mark Rudolph, Agent, Colorado Springs, CO
Mon Jan 13, 2014
Hi Rich,

I live in the Monument area and know a lot about Real Estate values there. Each home is different and some are priced well (at market value) and others are not (above or below Market Value). Only a Real Estate Professional can provide you with the appropriate comparable information to help answer your question.

Please contact me with the exact address of the home and I'll be happy to help.

Regards,
Mark Rudolph
ERA Shields Real Estate
(719) 492-3974
mrudolph@erashields.com
0 votes
John/tobey L…, Both Buyer And Seller, 80132
Thu May 9, 2013
Look at my home 17285 Leggins Way Monument, Colorado 452,500. Look at the the zillow listing
http://www.zillow.com/homedetails/17285-Leggins-Way-Monument…
And the description I am sure if you are interested we can come to a mutual agreement. There are already incentives offered in the description that I believe are worth your time. Thanks John
0 votes
Laurie Clark, Agent, Englewood, CO
Wed Mar 10, 2010
I believe that I personally would consider that a reasonable bid would be 20% below asking price for a foreclosure, HUD or bank owned property and 7-10% below asking price for a resale or new build. Ask for all your closing costs to be paid by the seller, a buy down of the interest rate to keep your payment affordable and for extra upgrades to retain present value in the future for a new build.

Laurie Clark
Broker
Angel Realty, LLC
http://www.Angel-RealtySells.com
0 votes
Eddie Hurt, Agent, Colorado Springs, CO
Thu Mar 13, 2008
Rich,
In the current market there are many great opportuities out there for buyers BUT you need someone who knows that market well. You may already know this, but having a REALTOR working for you on the buy-side is FREE to you, the seller pays the commission for both agents. Be sure you find an agent who knows and specializes in the Monument area, like Darrel Wass below or I would be more than happy to refer you to someone in my company that specializes in that market.
Web Reference:  http://www.EddieHurt.com
0 votes
Darrell Wass, Agent, Colorado Springs, CO
Wed Mar 12, 2008
Rich,
I have lived in Monument since 1994, and we are currently seeing values declining. At that price for a new home in 80132, I would guess it is in Jackson Creek. I would be happy to do a CMA on the home for you to give you a true value. You can contact me through my website linked below.
Thanks,
Darrell
0 votes
Coree Stewart, Home Seller, 80132
Mon Mar 10, 2008
look at this home 111 Misty Creek Drive, Monument CO 80132... $308,000 w/ $10,000 back to buyer at closing...FSBO!
0 votes
Kelly Lynne, Agent, Denver, CO
Thu Jan 24, 2008
Hi!

Random but thought you'd like to read this article that was published today:

http://www.bizjournals.com/washington/stories/2008/01/21/dai…

Cheers!
Kelly
0 votes
Jim Welden, Agent,
Mon Jan 21, 2008
Rich, I would agree with Susan's advice to get someone to represent you who is very familiar with the area - I was showing homes in Monument last summer in the price range you are exploring and there was a wide range of value for the relatively small price range the Buyer and I were looking in - obviously some were very overpriced and some were more reasonably priced - an agent very familiar with the homes in the area and able to pull homes that have recently sold for you will give you much better guidance. The price on the home you are considering may be reasonable or unreasonable - recent comps will help you make a better informed offer.

I noticed your zip code is from out of state - if you are going to be making a purchase from long distance, I think it makes even more sense to have a local agent who can check on the progress, take photos periodically for you, etc. Finally, is the home completed already? Is it a "dirt" start (you pick out the lot and then the construction begins)? The price the builder may be willing to accept will probably vary depending on the answer to thiese questions. My experience is that new homes are a great way to go because you can select options/features/upgrades/etc but a home built from a dirt start is also the most expensive way to buy a home .... so, you should plan on staying in the home for a longer period of time.

Monument is a little further south than I normally work but I do know some good agents who would be glad to help you - let me know if that would be helpful.
0 votes
Suzanne Walk…, Agent, Oklahoma City, OK
Mon Jan 21, 2008
Hi Rich,

I specialize in this area and there is too diverse of real estate in Monument to apply a general rule of thumb in regards to negotiations. The previous answers give you some insight in regards to that.

Real estate in Monument, in general, is not declining in value; with the exception of new construction. The market is flooded in the Tri-Lakes with new construction. Is the home located in more desirable location than other new build locations? Is it already priced aggressively? What are the incentives? The competition? The development plans?

Do you have a buyer broker or are you working with the builders salesperson? In terms of what you should bid a buyer broker would be able to help you greatly. A builders salesperson represents the builder's interest.

I strongly suggest you not try to write nor negotiate real estate based off of peace milled advice you get online. A buyer broker will be your best asset and there is a reason CO law gives you the right to representation.

Good luck,
Susan
0 votes
Charles Ward, Agent, Denver, CO
Mon Jan 21, 2008
As an accredited buyers agent this is probably one of the most frequent questions that I get asked and with good reason. No buyer wants to pay anymore then they have to in order to get what they want. The flip side is insulting someone beyond eliciting a counter offer. If you are working with an agent they should be able to do a (CMA) market analysis to help you understand the value of a home based on what has sold in the area. I would not put a lot of stock in web references like Zillow or others especially in very specific market such as Monument. The neighborhood market is the key and is much more important then the state of the overall market. I have helped buyers and sellers recently with homes that have sold for asking price or in some cases more! In all cases it was the local market that dictated the price and none of these clients overpaid. Without sounding vague a professional can really help you understand the local market and help you determine a strategy to determine how good of a deal you can get. If you would like specific information I have that I can spend with you.

Thanks,

Charles
0 votes
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