I'm looking at a 2 brdrm 1 bath house about 860 sq ft, in the metro richmond village, ca very cure, granite counter tops, painted, in good

Asked by Ik, Metro Richmore Village, Richmond, CA Mon Apr 5, 2010

condition, double panel windows,,,asking 159,999...what should I offer? any advice?

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Kamal Randha…, Agent, El Sobrante, CA
Tue Apr 6, 2010
Hello Ik,

You should have your Realtor run comps on this property for you to see how much its current market value is. Once you have that, you can decide if you want to offer market value which pretty much how much it's worth at this time or if you want to bid over to compete with other buyers. Make sure you're working with a knowledgable Realtor as this is very important in getting your offer into consideration. Good luck..I hope you get the home!!

Kamal Randhawa
1 vote
Dave Sutton, Agent, Portland, OR
Wed Apr 7, 2010
All good answers before. You might want to read my blog post about why sometimes the highest offer isn't the one the seller accepts.

It's at http://www.trulia.com/blog/dave_sutton_windermere_walnut_cre…
0 votes
Pacita Dimac…, Agent, Oakland, CA
Mon Apr 5, 2010
List price doesn't always reflect market value. Depending on the circumstances, the list price may be set artificially low to entice buyers.

On the other side of that is that the sellers are unrealistic about the value of their property and list higher than market value.

Your own research, coupled with in-depth research by your realtor will lead you to make an informed decision.

Asking on this forum how much you should offer, without any of us having any details about where this property is, what if offers and what the comps look like, what type of sale it is (short sale? bank-owned? regular sale?) will not lead to any other sane recommendation other than: consult your realtor. If you don't have one yet, then you should engage one to help you.

Wishing you good luck and good fortune.
0 votes
Johnny Huang,…, Agent, Walnut Creek, CA
Mon Apr 5, 2010
What does your agent say? If you don't have any agent, did you run your own comparables to determine of the home is fair market value? Do the comps (similar style homes sold within 6 months) determine of the house you are looking at is a fair value or does it look like it's declining or improving?

If there are other interested buyers, you may have to offer more if you want the house. How much more will depend on your perception of value for the home.
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