Two listings that I have sold so far in 07 have been in the 92114 zip code and 92119 respectively. 92114 went at list price with a 3% credit back to the buyer, 92119 went at about 5% below list price. Both were not the greatest homes in the world. We will open escrow on another 92114 home that will close at 1% below list with another 3% credit. Again this home is not in the greatest part of town. I think that the part of town you are looking in will help dictate your strategy. One client I have has submitted 4 offers in the past 3 weeks, all of them well below list price, at least 10% and NONE of the Sellers even responded with a counter. Personally I submitted a lowball in Scripps 2 weeks back that was only a 2% below list price and they did not respond. So where you are looking really will dictate the strategy. If you are looking at a unique type of property that may have been on the market for a long long time then you have more leverage. If you are looking for a family home in a good school district then your leverage may not be so great. Again, let me know the zips you are looking for and I can be more helpful.
