Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I feel like we are arguing semantics here. In the absence of a recent closed sale, you have to look at what IS for sale. When you have a similar house, similar age, similar neighborhood and similar lot size, you obviously look at it. You can call it whatever you feel like calling it.
Yes, but when you're trying to evaluate price, the ONLY thing you can compare it to are sold properties since that is an indication of what the market will bear.
If nothing remotely similar has sold recently, gauging whether the price is appropriate will be much more difficult.
Yes, but when you're trying to evaluate price, the ONLY thing you can compare it to are sold properties since that is an indication of what the market will bear.
If nothing remotely similar has sold recently, gauging whether the price is appropriate will be much more difficult.
Well, it's funny because before this house, I wasn't really paying all that close of attention to the market but since then I have become very familiar with it and feel pretty comfortable saying the house is still overpriced.
I see a comp as the high end.
99.9% of houses can sell in 1 day. It's just a matter of putting the right price on it.
Right now, clearly, the Chicagoland market is telling them they're overpriced. Nothing requires them to listen, now or forever more.
the question becomes - what would happen if they dropped their price tomorrow to your personal "highest and best"? Would you be the 1-day buyer? Or would someone else.
99.9% of houses can sell in 1 day. It's just a matter of putting the right price on it.
Right now, clearly, the Chicagoland market is telling them they're overpriced. Nothing requires them to listen, now or forever more.
the question becomes - what would happen if they dropped their price tomorrow to your personal "highest and best"? Would you be the 1-day buyer? Or would someone else.
I would. I would buy it. I just feel like they are not going to be there for a while. I said when this started, it was going to take two years for them to figure this out. Maybe they don't want to sell as many people have said. To me, when I look at all the listings, theirs sticks out like a sore thumb. ALL the homes in that price range are much larger.
I see that the nearby township has been getting their tax notices and as expected, they are freaking out about how big the increases are.
I would. I would buy it. I just feel like they are not going to be there for a while. I said when this started, it was going to take two years for them to figure this out. Maybe they don't want to sell as many people have said. To me, when I look at all the listings, theirs sticks out like a sore thumb. ALL the homes in that price range are much larger.
I see that the nearby township has been getting their tax notices and as expected, they are freaking out about how big the increases are.
If you think they're not going to come down to near-market pricing on their own for another year, why not make your offer now? You can always make the same offer again in 6-9 mos, right?
If you think they're not going to come down to near-market pricing on their own for another year, why not make your offer now? You can always make the same offer again in 6-9 mos, right?
Yes, we are planning to do that but I am waiting for two things: A) tax notices mailed in late May (which I may NOT wait for) and some personal finance stuff that hopefully will resolved by mid May.
Yes, we are planning to do that but I am waiting for two things: A) tax notices mailed in late May (which I may NOT wait for) and some personal finance stuff that hopefully will resolved by mid May.
So, just because the listing is coming up on a year and I can't do anything for a couple of weeks, I asked my realtor to reach out and touch base with the seller's agent. As I said before, they dropped the price around 3% but no other drops. The seller's agent said, 'They are not going below $____ which would be 15% off. My final offer is closer to 19% off but to me that's a huge development. My realtor says that she said that back in the fall but I don't think she did. She said, as I recall, "They are not taking in the $XXX,000's (where our initial offer was going to be and was). She also said that she has a couple of other buyer's interested??? So no deals? Don't believe that. And lastly, when the listing expires next week, they will likely take it off the market. So in spite of 2 other interested buyers, they are taking it off the market? Also said they have 'plenty of cash' but I know for a fact they have a significant mortgage and spend much of their time at another home they own elsewhere. No one with a lot of cash has that much in a mortgage, especially empty nesters. Discuss.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
