community

all boards

my blog

my photos

The Ultimate Guide to "Happily Ever After"

Newlywed Handbook
Order The Nest Newlywed Handbook.

< Previous topic | Next topic >

All Boards > Boston Newlyweds

Sort:
04-13-2008 at 12:57 PM
boston2007
Not Ranked
Joined on 03-24-2006
MA
2 Posts
66 Points
Newbie


Report

house hunting/offer price

So...I have begun the house hunt on line and we really want to start looking at some homes.  We are looking above our price range by $40-50k since prices seem to be falling like crazy.  I like one house that has been on the market for about a month and a half and I am unsure if the price will drop...could we really go and offer a lot less or is that just really bad?  I don't want to be insulting to the seller.  Any thoughts or is anyone else going through this same thing?  There have not been many homes in the neighborhood that have sold recently either to compare what they were going for.
 
Filed under: , , ,
Reply Quote
04-13-2008 at 1:03 PM
Wilder
Not Ranked
Joined on 09-24-2006
Bradford, MA
44 Posts
887 Points
Newbie


Report

Even if your offer is what you consider insulting, its an offer and shows intrest to the sellers. I say go for it and be willing to meet them halfway, but don't expect to buy the house for what you offer the first time around.
 
Reply Quote
04-13-2008 at 1:05 PM
boston2007
Not Ranked
Joined on 03-24-2006
MA
2 Posts
66 Points
Newbie


Report
Thanks for the advice!
 
Reply Quote
04-13-2008 at 1:06 PM
mainecooncatlover
Not Ranked
Joined on 12-29-2007
Massachusetts - North Shore
236 Posts
4,553 Points
Newbie


Report
The worst they can do is say no. I'd go for it. GL!
MY BIO


 
Reply Quote
04-13-2008 at 1:13 PM
syrbride05
Not Ranked
Joined on 11-16-2004
Boston, MA
7 Posts
111 Points
Newbie


Report

It is a matter of public record what the house last sold for. So you can find that out, plus figure in any improvements that they may've made.

I'd remember this - if they bought the house anymore than 3/4 years ago they bought when prices were inflated so they might not be able to accept any less than the list amount, or close to it.

We just moved into our house; it was an estate sale - the man who lived in it bought it 20 years ago; We got it for 50K less than the original list price

I'm a firm believer however that you don't know your sellers situation, this is a business not personal transaction so I wouldn't care if I low balled and they thought my offer was "insulting" - I'm trying to get the best bang for my buck.

Good luck!
Mommy to BabySyr: 1/25/07 
Reply Quote
04-13-2008 at 2:11 PM
ham02129
Not Ranked
Joined on 10-19-2004
Wedding in Watertown, MA; reside in Newton
26 Posts
1,070 Points
Newbie


Report
You should do your homework and have a very good sense of what homes have sold for on a per square foot basis. This will give you a sense of whether your offer is sound. You can do the research yourself on zillow. You can also find out what homes have sold for in the past few years as pp mentioned . . . but also look at this property's history, all public record and usually on the tax assessor's website. Find out if the house was on the market before, this could be a new listing for the year. GL!
<center>
My Photography Blog

My FlickR Page

</center> 
Reply Quote
04-13-2008 at 2:23 PM
d+a11/18
Not Ranked
Joined on 08-28-2006
Boston
97 Posts
1,930 Points
Newbie


Report

just to add another perspective... we looked all last year.  and, i still keep my eye on listings - and i am seeing some stuff come back on the market (after the winter)... and it looks like it has just been on the market for a month - but really, it was on the market  all last summer/fall.

my experience was that the good stuff (priced right) is selling quickly, and it totally depends on the specific area you are looking.  gl!


My Chart! 
Reply Quote
04-13-2008 at 4:02 PM
CapeCodOct05
Not Ranked
Joined on 11-06-2004
From Boston, live outside of Philadelphia
93 Posts
2,126 Points
Newbie


Report
In my opinion, buying a house is a business transaction and I don't really care if the person is insulted by my offer.  If they do get insulted, then they will just say "no". Then if you *really* want the house you can always come back and make a higher offer at a later date.  Chances are they will counter your offer though.

Pet Finder ::: Christine's Bio 
Reply Quote

search boards

choose another board

hot topics

What does “renting with an option to buy” mean?

It’s tough to sock away funds toward a down payment when you’re laying out rent every month. No wonder rent-to-buy ... read more

Choose a market:
Apartment and House Rentals

>> Presidential Towers [Chicago]
Four elegant towers occupying two city blocks, Presidential Towers is around the

>> Residences at The Manor [Dc Area]
Situated on a former 18th Century estate, The Residences boasts a multitude of floor

Home Builders and Architects

>> The Estates At Aberdeen [South Jersey]
Award-winning, superior-quality 4 BR, 2.5 Bath homes from the $270s. Include basements,

>> Bowen Family Homes [Atlanta]
With 24 communities in prime metro Atlanta locations, Bowen Family Homes has a new

>> See resources in another market

SPONSORED LINKS