New Home advice

[Ace1st]

My first question is are you working with an agent?

[teddyp]

Yeah we got an agent. We like her a lot but agents are in sales no matter how you slice it. So my guard is up.

[Ace1st]

If your agent is good, they will advise you of all the right steps to consider. Comps is a big consideration. The time on the market is small but if its priced aggressively it will sale quickly. All this your agent can advise you on.

Its really not a simple answer, there are so many things to consider. And every case is different.

If you have a number that you will be happy with, make sure to compare that number with other properties in the same range. I do not know the market youre in, but Im sure there is alot of inventory. Make an informed decision but don't get in a hurry unless you really want to be in that particular property.

There is alot of competition for your business now with the lending markets. Be sure to research this and get the best deal for your situation.

Also, be sure to get a thorough Home Inspection so that no suprises pop up later once youve taken possesion of the property.

Your agent represents your best interest, not theirs. So make sure they are right for you.

Good Luck with your next purchase.

[teddyp]

Thanks for the info. I guess one of the questions that I have is if they are asking $219k and its the lowest priced home in the development and only on the market for 22 days what would be a good first offer. Should I start at $190k ?

[Ace1st]

Teddy....
I wouldn compare it with just that community. Be sure your agent compares it with other "like" communities within a couple miles. This may give you more "leverage" when the offer is made.

We are seeing lots of inventory here, so that may not be the case there? Thus our market is a true BUYERS MARKET.

I think the biggest question you have to ask yourself is are "YOU" comfortable with the offer based on information conveyed to you. And if so, then yes, that would be a good starting point.

You never know a sellers justification for selling, so don't be afraid to make an offer that is considered low. 22 days may be a small amount of time to be on the market, but they may not have had an offer to date either.

Once again, good luck!

[seapower]

No I ment $19,000, that gives you $200,000 to negotiate.I would first of all see how much the bank is willing to lend me, then go from there. I am seeing some absoulte steals in the boating world right now. I can only assume that the housing market is pretty much the same. I'm out of touch with the market though, I am not selling or buying. This kind of reminds me of "back in the day", when our commercial fishing businesses were strong around here. Boats that you couldn't touch for $150,000, have been sold for less than $20,000 in just the last few years. My what a difference a few years can make! Frank

[Big Fish Billy]

Okey Dokey....I think I'll stick with my advice of 75% of the assessed value as a lowball...