I found a house I would like to buy. Builders in the area overestimated what soldiers could afford when they

Asked by Lw, Junction City, KS Tue Jan 1, 2008

began building homes outside of the Army base in which we will be stationed. Like everywhere else, there is an abundance of homes. This house in particular has sat for 3 or more months. I know that any offer can be put on the table. However, my question is, since this home is being sold by a builder, what is a reasonable starting offer? Asking price of the home is 205k

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Julie Jones’ answer
Julie Jones, Agent, Manhattan, KS
Fri Dec 16, 2011
My thoughts are a "reasonable offer" would be what you think the house is worth. I Realtor,like myself, representing you could do a market analysis and give you the factual information of what a house in that condition, age, size, and similar finished features has sold for in the last 6 months - one year. This would also be another avenue to consider when you're trying to decide "what a house is worth."

Let me know if you have any more questions, Julie Jones 785-410-5569
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Dmw966452, Both Buyer And Seller, Fort Campbell, KY
Fri Feb 19, 2010
heck be brave! Start your first bid in the 150's. The worst they can say is no. Besides after reading some of the responses,when me and my family get there that will probably be my starting bid. I know it may sound crazy but do a little more research and you'll find some disturbing market trends in the JC area like a 44% ownership rate and a 33% rental rate. That means that about 23% of homes are VACANT! not to mention home values for the area have been declining. If you think is sounds ludicris with the wonderful housing market we have nationwide check out http://www.zillow.com and http://www.bestplaces.net

see in JC soon!
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I know this a very old post. I have to let everyone know that Zillow.com is not always a helpful ,factual, or updated sight. Zillow has a lot of erroneous information.For example; I just looked up my homes listing on Zillow and my last sold price is actually from what the previous owners bought it for years ago! The tax assessment is also outdated. Now you can correct it if you listed it by clicking the blue edit button, then the "claim" button. If it was listed on the MLS by your realtor, then they have to correct it. Not many sellers catch this harmful mistake. Not many buyers looking for factual information know any better and assume its correct information, thus puts the seller in a unfair position. It should be illegal for Zillow to be doing this. If they can not keep listings updated, they should not have this site up. My point is, if you want factual information on the home be sure to have your agent confirm with the listing agent the facts. Zillow is not a site to totally trust
Flag Thu May 24, 2012
Robert, Home Seller, Milford, KS
Thu Jan 7, 2010
I just had to post an answer as a former military member who grew up in Junction City and worked at Ft Riley until a year ago. I personally am appalled at the price of homes in the Junction City area. You could find dozens of homes for under $125,000 until it was announced the Big Red One was coming back to Ft Riley, then most of those houses went up $50K and more. Most of our soldiers will only be stationed at any one post for 3 years or less, so why buy a home you're going to lose money on IF you can't sell it 3 years after you buy it for enough money to at least break even? The tax savings aren't worth it. If you think the Ft Riley area ( Junction City, Manhattan, etc ) might be a place to retire, then find a home that is in a good neighborhood, maybe out near the lake, or close to K-state campus. If you have acreage or a large lot, that's even better.At least your home value will stay fairly stable.
AND if you still want to buy here, start your offer real low, so low it embarrasses you! Then negotiate agressively. Most of the homes in JC have been on the market for over a year, and a lot of new homes longer than that. Have two inspectors check it out before you sign on the dotted line. I've seen partially finished new homes that have had open or no windows, partially finished roofs, etc. Perfect for water soaked frames, mildew and mold, insects. Make sure your builder will be around to guarantee repairs, lots of builders having trouble paying their bills these days. Use a reputable full time Realtor, one who has owned a home and has been in the business for at least 5 years.
So buy with caution, the housing market is still terrible right now for sellers, buy accordingly!
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Dan Chase, Home Buyer, Texas City, TX
Thu Jan 7, 2010
This question was asked 2 years ago.

I wonder if Lw ever bought a house and how it worked out for them.
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Dustin, Home Buyer, 36362
Wed Aug 5, 2009
Builder in JC. Your attitude is typical of many in the real estate industry near military installations. "They get free untaxed money so let's flood the market with cookie cutter homes and price them the same as custom built homes in other areas" Well I hate to break the news to ya bud but you are going to be sitting on those homes for a long time. I think most service members are aware what they can afford and for some of the prices I have seen on pretty basic homes, I feel that they are pretty silly to not offer lower prices.

By the way the Army is always hiring if you want to come get some of that "FREE" money. Let me know how free you think it is after your 3rd or 4th tour overseas.
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Big-d, , Junction City, KS
Tue May 26, 2009
I would just like to let you know that I sold a house in 02 in the Junction City area and it is for sale again today for 216,000 that is 100,000 more then when I sold it. If you ask me the housing market in this area is way too high. There is no way that a house can go up in value that fast. In my opinion the real estate agents in this area just too greedy when helping sellers set prices. I am not against making a profit I just don’t think a builder should try to retire from the sale of one house.
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Builder In Jc, Home Seller, Junction City, KS
Tue Feb 3, 2009


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Michael Pier…, Agent, Overland Park, KS
Thu Feb 28, 2008
Casey and Mike are right, my answer to this questions would be another question....Do you have a buyers agent? If you do not have one I would definately recommend getting one and they will be able to accurately advice you on these type of situations. Hoah!
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Roland Waech…, Agent, Manhattan, KS
Sat Feb 23, 2008
Hi LW,
You are in a very fortunate situation. Buyers are no different than people selling their own homes in Junction City. I represented a buyer last month that bought a home from a builder for nearly $25,000 under the listed selling price.
I would be glad to talk to you about the many opportunities in buying a home in Junction City. Please call me at 1-785-307-2572 anytime or respond by e-mail at your convenience.

Thanks for the contact.

Roland Waechter
35 year Junction City resident.
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Mike Nielsen, Agent, Lansing, KS
Mon Jan 14, 2008
I would highly recommend you get a buyer's agent. A buyer's agent will be able to work in your best interests and be able to negotiate on your behalf. Builders are often hesitant to lower their prices alot as it will impact comparables for future sales. In lieu of that, you can often get incentives like closing costs or upgrades. If you have any other questions, don't hesitate to ask. If you don't have an agent yet, feel free to contact me and I can refer you to a qualifed rep in your area. I enjoyed my time when I was stationed at Ft. Riley (long ago!). Best of luck! :)
Web Reference:  http://www.KSHomeSales.com
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Casey & Jenn…, , Kansas
Sun Jan 6, 2008
First of all, do you have a buyer's agent? If not, you really need to consider finding one. They will be your advocate during the transaction and will help you to negotiate a good price. In answer to your question, it really just depends... how desperate is the builder, is he offering any incentives (like paid closing costs), etc. There's a lot of information you need to find out prior to writing an offer. But I will say this, I have seen builders negotiate more than ever due to the current market conditions. I know that wasn;t a direct answer, but I hope it helped.
Web Reference:  http://caseyandjennifer.net
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