ok i am looking at a house that is on 2230 fashion ave in the long beach house is on the market for $319,000 realtor said

Asked by marcoslbc, Long Beach, CA Wed Apr 17, 2013

ok iam looking at a house that is on 2230 fashion in longbeach ca.the price is $319,000.ok the realtorshowed me the house.he said someone offerd $329,000 and they where going to pay closeing cost but it didnt gp thru.he said to put an offer of $345,000 and they pay closeing cost is that a smart move.i am a first time buyer thx

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Kawain Payne, Agent, Seal Beach, CA
Fri Apr 19, 2013

This market is hard for buyers. Too many buyers in the market not enough homes on the market.

Be careful getting into a bidding war.

You have to be sure not to go over your own budget, and you do not want to OVER pay for a property.

The market swings back and forth, one minute it is a seller's market the next it is a buyer's market.

Stay engaged in the process. I woulkd suggest you pay your own closing cost (if you can)
and offer a reasonalbe price for the home.

Do the comps for the area support you offering $26,000 above list?

B est of luck to you!

Kawain Payne, Realtor
0 votes
Julia King, , Long Beach, CA
Thu Apr 18, 2013
Hello Marcoslbc, You have to go by your gut feeling. We are in a very tough market at the moment...there are very few houses available and lots and lots of buyers...which create a bidding war...multiple offers and lots of broken dreams. You have to look at the comps which your realtor will provide...IF, your offer is accepted the appraisal contingency will protect you from paying above market...however, some buyers will remove their appraisal contingency and know full well they will be paying above market...how much do you want the house? That seems a pretty big jump...GOOD LUCK!
Julia King
RE/MAX College Park
(562) 972-5464
Lic #01181726
0 votes
Sheila Caron, Agent, Long Beach, CA
Thu Apr 18, 2013
Sounds like you are not using a real estate agent to represent you. It doesn't cost you anything to engage a Buyers agent to represent you. This way you can ensure you are writing a fair offer and that all of your negotiations including disclosures and repairs are handled professionally and you are well protected. Something to consider.
0 votes
Glenn Gaspar, Agent, Signal Hill, CA
Wed Apr 17, 2013
The first step here is to have your agent generate a CMA, comparative market analysis, in order to determine the market value for this home. No matter what the seller may be asking for the bank's appraiser will base their value on the most recent sales over the past three months. Yes, you can add your closing cost into your offer but will your offer dollar amount be acceptable to the bank and their appraiser is the question.
0 votes
William Moore, , Los Angeles, CA
Wed Apr 17, 2013
It's hard to say. Right now it's a sellers market so it's not unusual to offer above asking price on a home but only the selling agent really knows what price his/her client would be willing to consider from potential buyers. It is common however, for buyers to ask and sellers who are willing to pay for closing clost but what you need to find out is one, do comparables support such an offer and two, is $345,000 a price you're willing to pay?

William Moore
RE/MAX Top Team
DRE #01906098
310.650.8381 cell
0 votes
Daniel Sando…, , Long Beach, CA
Wed Apr 17, 2013
Offer 335k w/ closing costs . Inventory is limited so that's the best way
0 votes
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