In mid to late 2007, I have a friend that bought a detached single family house for $550k which was originally listed for $600k. However, her neighbor stated that they were able to get the price down for their home by $100k. It’s 2008 and the prices of homes even got lower. Should I expect to negotiate about $75k – $100k lower than the listed price of the current homes for sale?
You’re leaving out the most important variable in real estate—location!
March 5th, 2010 at 5:51 pm
why not?
also, check with banks for
foreclosure sales and
each county for its
annual tax foreclosure sales.
References :
RE broker
March 5th, 2010 at 6:24 pm
Sale of House = Willing Buyer + Willing Seller + Agreed Price.
Find a seller who is motivated (already moved out) and find recent sale prices for similar properties and start your negotiation.
If a seller can wait out the slump, they will – move on. Your best deal will be with someone who HAS to sell.
Good Luck
References :
March 5th, 2010 at 7:09 pm
Everything is negotiable, but remember that sellers in most cases cannot afford to sell for less than they owe on their homes, even when they want to. An offer of $550K on a house that’s listed for $600K is a great offer in any market.
References :
March 5th, 2010 at 7:49 pm
You’re leaving out the most important variable in real estate—location!
References :