What's a good asking price to start with for this house?

[Tates]

In the December 2004 issue of SmartMoney Magazine, "What's Next for Home Prices?" p. 82, the Dallas housing market is listed as "Fairly Valued":

Actual Home Prices (median) $169,200
Percentage over/undervalued (9%)
Home Price Increases
1 year 2.6%
5 year 24.5%

Source: Local Market Monitor compiles stats on median housing prices, income, population and new construction to determine how local markets are doing. When salaries and home prices stay roughly in line, the market is fairly valued.

BTW, a similiar property in and around Oregon would go for $100 to $175/sq foot.

 

[JackBurton]

Since I posted the house, I better not get out bid from an ATer? :|

 

[GasX]

Originally posted by: Tates
In the December 2004 issue of SmartMoney Magazine, "What's Next for Home Prices?" p. 82, the Dallas housing market is listed as "Fairly Valued":

Actual Home Prices (median) $169,200
Percentage over/undervalued (9%)
Home Price Increases
1 year 2.6%
5 year 24.5%

Source: Local Market Monitor compiles stats on median housing prices, income, population and new construction to determine how local markets are doing. When salaries and home prices stay roughly in line, the market is fairly valued.

BTW, a similiar property in and around Oregon would go for $100 to $175/sq foot.

You have that info for Glen Ridge, NJ?

 

[EMPshockwave82]

my parents were asking 135k for the house that i grew up in and the people threw us an offer of 100k... i cant remember what the house went for but i know it was over 115k

i'd say an initial offer of 85% is fine... 90% of asking price may be slightly conservative

 

[jemcam]

You've got nothing to lose by trying. My current house was listed at $260,000, and I offered $210,000. They counter offered $215,000 and we had a deal.

 

[JackBurton]

Originally posted by: jemcam
You've got nothing to lose by trying. My current house was listed at $260,000, and I offered $210,000. They counter offered $215,000 and we had a deal.

That's pretty much what I was thinking. WOW, $260,000 to $215,000, not bad.

 

[MustISO]

That house would sell for $450,000 easy where I live. Just crazy. For $159,000 you could almost pay cash for it.

 

[jemcam]

Originally posted by: JackBurton

Originally posted by: jemcam
You've got nothing to lose by trying. My current house was listed at $260,000, and I offered $210,000. They counter offered $215,000 and we had a deal.

That's pretty much what I was thinking. WOW, $260,000 to $215,000, not bad.

In all fairness, they had the house overpriced to begin with. I really paid what it was worth compared to the other houses in the neighborhood. The lady selling it was crazy.

 

[MercenaryForHire]

Pee on the wall in the "Image of Christ" and it'll sell for a million.

- M4H

 

[JulesMaximus]

Talk to a realtor in your area. Most likely, nobody here is going to be able to give you advice on what homes would reasonably go for where you live.

 

[JackBurton]

Originally posted by: MercenaryForHire
Pee on the wall in the "Image of Christ" and it'll sell for a million.

- M4H

Now that's a great idea. I'll take that into consideration when selling my home.

 

[waggy]

hmm well it may work. I know the guy next door to me is asking $195k for now. But he is not in a hurry to sale it. He is expecting to sale it for around $160 (though i doubt he gets more then $145k).


but man tha is a great house. great price. that would go for $300k around here easy.

 

[JulesMaximus]

Originally posted by: JackBurton

Originally posted by: TheGameIs21

Originally posted by: JackBurton

Originally posted by: TheGameIs21
Way to many variables not discussed... How long has it been on the market? What is the houseing market like in the small area known as Texas? Do they occupy that home or have they already moved and are needign to unload this one? What is it's condition? What are the values of like homes in the same area?

Without at least these answers no one can help you here.


If it has been on the market for less than a year and it's a sellers market, they won't accept a lowball offer. If it has been on the market for over a year and they are not living there and it's a buyers market then they will probably look at it and counter with at least 50% of the difference added.

Well that's actually good information. I now know what to look for when making an offer.

Is it posted on Realtor.com? (great site by the way)

Yep. Here it is.

Nice, that house would go for $600-700k or more depending on the location here in SoCal.

 

[JeffreyLebowski]

What city is it in? I'm in Dallas and have been looking at houses so I can help a little.

 

[JeffreyLebowski]

Ok I finallyt saw your link.
I doubt you'll beable to get them much lower than 145K.

 

[Tates]

Originally posted by: Mwilding

Originally posted by: Tates
In the December 2004 issue of SmartMoney Magazine, "What's Next for Home Prices?" p. 82, the Dallas housing market is listed as "Fairly Valued":

Actual Home Prices (median) $169,200
Percentage over/undervalued (9%)
Home Price Increases
1 year 2.6%
5 year 24.5%

Source: Local Market Monitor compiles stats on median housing prices, income, population and new construction to determine how local markets are doing. When salaries and home prices stay roughly in line, the market is fairly valued.

BTW, a similiar property in and around Oregon would go for $100 to $175/sq foot.

You have that info for Glen Ridge, NJ?

Glen Ridge not specifically listed, but here's two closeby burgs:

Bergen-Passaic, N.J. - Overvalued
Actual Home Prices (median) $370,700
Percentage over/undervalued 18%
Home Price Increases
1 year 11.3%
5 year 64.6%

Newark, N.J. - Overvalued
Actual Home Prices (median) $332,900
Percentage over/undervalued 15%
Home Price Increases
1 year 10.9%
5 year 61.8%