Quote:
Originally Posted by alexei27
Can I get some info on what houses are actually selling for compared to their asking price?? I have used domania.com and Zillow....both are nice but they don't show the listing price. I am moving to central/eastern LI in a Nov and am trying to get an idea if asking prices are generally realistic of discounts are in order!! Houses in my neighborhood in Utah are selling within a week!
I'll be asking a bunch of questions about specific towns...but according to Clamboy I need look no further than Rocky Point  I know two other people who have lived there...both rant and rave about it. Definitely seems worth checking out!
Thanks! |
Hi,
The best thing you can do is get a Realtor that will operate as a buyer broker.. it won't cost you any additional money AND you'll be able to better know what you should be offering. Buyer brokers arent' practiced as much as they are elsewhere in teh country, but there are agents that do practice as buyer brokers.. and I don't know why buyers won't sign an agent to them to negotiate FOR them for just this reason. People on this board may or may not know the answer to your question.. .because unless your in it daily.. it's hard to know. You won't get an answer from a Realtor that's NOT your buyer broker becasue they can't really answer the question unless what the houses around it sold for justifies the owners asking price, as all realtors work for the seller regardless of wether they personally know the seller or not.. the only acception is when an agent is "hired" as a buyer broker. It's agency law in NY State and is disclosed upon first substantive contact with an agent.
I'm not familiar with Suffolk prices, but I will tell you that there are sometimes differences between what people are asking. Some p eople are realistic and are priced right on the money with the market, others are a little over. The ones that are priced right are going quickly.. those not priced right are sitting on the market longer.
In the end, it doesn't matter what the difference between asking and selling are (typically it is within 5% of the asking price and when a homeowner gets within what the market is rather than shooting too high, it will sell and within 5% of the asking).it's important to know how much a house that is similar in the same neighborhood with similar features sold for.. so let's say you are looking at 4 bedroom 2 bath ccape that recently closed within 6 motnhs for $400K.... in very good condition and a similar cape with similar features is asking $500K. This person might be unrealistic and will probably NOT accept yoru offer that is within the market.. but then they won't sell. What you offer should have nothing to do with what they are asking or the difference between asking and what homes sell for, but should be in line with what has most recently sold.
I will say that it also depends no how much the house is worth to you as well as what you can afford. Say the house that sold for $400K was nice, but this house (the one asking $500K) has a little "extra's" and the homeowner is hoping that his house will get more than the $400k because he's put a little better quality in upgrades in his home.. You'll have to decide if you are willing to go slightly above that $400K and how much so.. then the owner has to decide wether that is acceptable to him or not.
Hope this helps..
Oh.. and ify ou find an agent and you ask them about signing them up as a buyer broker.. skip over that one and try another agent that actually KNOWS buyer brokerage and is CBR (Certififed Buyer Broker) because a lot of agents around here do not know or understand Buyer Brokerage..which is ridiculous and sad.. but true. One that does will do agood job for you and will know how to handle and even explain Buyer Brokerage to you. I don't know Suffolk, but I could give you areferral so send me a PM if you'ld like the name of a REaltor that could help you..
I am CBR.. but I operate in Nassau and do not feelt hat I would be able to give you the service you deserve as my knowledge is not in the area you are looking..
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