area is too high. What percent below asking price is usually deemed appropriate?

Asked by Marie, 53811 Mon Aug 15, 2011

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Roger (Technology) Burton’s answer
Roger (Techn…, Agent, Platteville, WI
Mon Aug 15, 2011
In the past two years there were only 4 Single Family homes, between $80k and $200k, sold in the town of Hazel Green.

List Sold Reduction $ Reduction %
$123,000 $113,000 $10,000 8.13%
$158,500 $158,000 $500 0.32%
$164,900 $163,900 $1,000 0.61%
$185,500 $177,000 $8,500 4.58%

Total $631,900 $611,900 $20,000 3.17%

Based on this limited number of sales you can expect the average seller to accept an offer 3.17% below their list price.
0 votes
John & Miche…, Agent, Reading, MA
Mon Aug 15, 2011
Ask your agent for a market analysis. Your offer should be based on other factors including recently sold comparable properties as well as what you feel comfortable paying. As the other agents mentioned, there is no percentage. Some homes are priced very aggressively, while others are priced much higher than the market suggests...
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Nina Kraus, Agent, Glendale, WI
Mon Aug 15, 2011
There is no percentage. It is all based on a comparative market analysis as to what other houses in the area have recently sold for. Also, it is based on the condition of the house. There is no "appropriate". There are many variables when deciding on an offer price.
Web Reference:  http://www.kraushouses.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Mon Aug 15, 2011
There really are no set percentages as to how much below list to offer; in order to determine a fair bid review comps with your agent, recently sold similar properties in the immediate area; see what the data suggests and go from there. Do keep in mind that if a property is priced on target for today's market, or slightly below, multiple offers may occur...
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