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Market Conditions in Lynn : Real Estate Advice

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  • Local Info9
  • Home Buying40
  • Home Selling5
  • Market Conditions8

Activity 9
Tue Jul 29, 2014
Yeimy Ramon asked:
This question was asked from http://www.trulia.com/rental/3161946655-81R-Broad-St-1-Lynn-MA-01902
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Mon Mar 31, 2014
Greer Swiston answered:
We are a free market and therefore everything is negotiable.

That said, I view asking price as an advertising tool. Depending on your market, it could be the hoped for desired price, or it could be the lowest acceptable price. It depends on the market and how well the seller understands the value of his/her house.

As a buyer, it is best to know the fair market value of the property. You base your information on the availability of other properties like it in the market and the value to you and the value to the seller. The free market will determine the rest.

1. If you want the apartment and no one else wants it and the seller must sell, then you could offer less than asking and the seller may accept it.
2. If you want the apartment and there is also other interest by others and the seller is confident that he/she will get his price, you may only get the property if you offer close or at the seller's asking price.
3. If you want the apartment and so do many many other people and the seller is receiving MULTIPLE offers, then if you want to be the one to get the apartment, you may have to offer OVER asking price to security the purchase.

If you aren't workng with an experienced buyer's agent, consider hiring one to help you best negotiate for the property you wish to acquire.
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Tue Jul 9, 2013
Gene Clements answered:
Now is a great time to get into flipping homes. Rates are low,there plenty of buyers and the market so if you go over budget you may have a little more room. Just make sure you work with a local agent that works with investors and has a proven tract record. Like me! I work with mostly investors and would be happy to help you. There are three aspects to consider 1, what you pay for the property, 2, what you spend to repair and carry the property and 3, the resale. A good agent can take care of steps 1 and 3 for you. Best of Luck, Gene
cell 089-998-9600
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Tue Apr 9, 2013
Wen Farina answered:
And the question is????????
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Wed Apr 3, 2013
Heath Coker answered:
Maybe they want to sell it fast.



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Tue Apr 2, 2013
Heath Coker answered:
Hi Abraham,

I would contact a local real estate professional to help with this answer and to save time and money.
(Not me, I'm on the Cape, but I can help you choose a local pro if you want help doing so.)


(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)
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Wed Jan 30, 2013
Paul Stonkus answered:
sorry, but this property is no longer on the market
Paul
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Mon Jun 20, 2011
jim smoe answered:
Hi tracey, I sell alot in diamond district! Depends on each building and condo they all have different values. Let me know if you have other questions . thanks Joe
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Sat Apr 12, 2008
Paul Stonkus answered:
The state of the market depends upon what you are looking for. There are actually about 20% fewer single family homes on the market in Lynn than there were mid/late last year. It's very busy since December. Single family homes going on the market now correctly priced are tending to sell very quickly at close to list price. Multifamilies and condos are another market altogether. There is a high percentage of multifamily homes on the market which are foreclosures and short sales. This segment tends to sell very quickly and it's not uncommon for there to be multiple offers and many offers over list price. There are still a great many properties in all categories which have been on the market forever and are obviously not correctly priced. A good agent can point you towards the bargains. ... more
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