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  • August 10, 2011 at 10:00 AM #19015
    kev374
    Participant

    I am looking at prices in the South Orange County area for Townhomes and some homes that I would consider buying are priced in my opinion about 10% too high (and I think prices will decline by more than 10% eventually but I feel it would rebound to about 10% below what it is today)…

    Is an offer 10% below list price considered ridiculous and “out of line”? If not I will just wait it out and buy at 20% below current prices!!! 😉

    In my opinion I think 10% below asking is quite realistic for today’s high volatile market environment but i’m not sure what is considered acceptable these days…

    August 10, 2011 at 10:10 AM #717147
    kev374
    Participant

    What I am saying is that I believe personally with 100% certainty that prices will decline AT LEAST 10% and I think there is a good possibility of a total 20% decline, therefore a 10% below asking is a safe bet. I personally do not think prices will decline further than 20% hence even an offer at 10% below is a gamble in my opinion but i’m willing to be upside down 10% for a bit if it means I can get into a home now.

    However, I will NOT get into a home at asking prices because I do not want to expose myself to a 20% decline which I think is just way to steep to recover from without waiting a very long time.

    August 10, 2011 at 10:10 AM #717983
    kev374
    Participant

    What I am saying is that I believe personally with 100% certainty that prices will decline AT LEAST 10% and I think there is a good possibility of a total 20% decline, therefore a 10% below asking is a safe bet. I personally do not think prices will decline further than 20% hence even an offer at 10% below is a gamble in my opinion but i’m willing to be upside down 10% for a bit if it means I can get into a home now.

    However, I will NOT get into a home at asking prices because I do not want to expose myself to a 20% decline which I think is just way to steep to recover from without waiting a very long time.

    August 10, 2011 at 10:10 AM #717831
    kev374
    Participant

    What I am saying is that I believe personally with 100% certainty that prices will decline AT LEAST 10% and I think there is a good possibility of a total 20% decline, therefore a 10% below asking is a safe bet. I personally do not think prices will decline further than 20% hence even an offer at 10% below is a gamble in my opinion but i’m willing to be upside down 10% for a bit if it means I can get into a home now.

    However, I will NOT get into a home at asking prices because I do not want to expose myself to a 20% decline which I think is just way to steep to recover from without waiting a very long time.

    August 10, 2011 at 10:10 AM #718344
    kev374
    Participant

    What I am saying is that I believe personally with 100% certainty that prices will decline AT LEAST 10% and I think there is a good possibility of a total 20% decline, therefore a 10% below asking is a safe bet. I personally do not think prices will decline further than 20% hence even an offer at 10% below is a gamble in my opinion but i’m willing to be upside down 10% for a bit if it means I can get into a home now.

    However, I will NOT get into a home at asking prices because I do not want to expose myself to a 20% decline which I think is just way to steep to recover from without waiting a very long time.

    August 10, 2011 at 10:10 AM #717236
    kev374
    Participant

    What I am saying is that I believe personally with 100% certainty that prices will decline AT LEAST 10% and I think there is a good possibility of a total 20% decline, therefore a 10% below asking is a safe bet. I personally do not think prices will decline further than 20% hence even an offer at 10% below is a gamble in my opinion but i’m willing to be upside down 10% for a bit if it means I can get into a home now.

    However, I will NOT get into a home at asking prices because I do not want to expose myself to a 20% decline which I think is just way to steep to recover from without waiting a very long time.

    August 10, 2011 at 10:15 AM #717251
    sdrealtor
    Participant

    If you beleive that at least a 10% drop is imminent I would advise waiting it out.

    August 10, 2011 at 10:15 AM #718358
    sdrealtor
    Participant

    If you beleive that at least a 10% drop is imminent I would advise waiting it out.

    August 10, 2011 at 10:15 AM #717162
    sdrealtor
    Participant

    If you beleive that at least a 10% drop is imminent I would advise waiting it out.

    August 10, 2011 at 10:15 AM #717845
    sdrealtor
    Participant

    If you beleive that at least a 10% drop is imminent I would advise waiting it out.

    August 10, 2011 at 10:15 AM #717998
    sdrealtor
    Participant

    If you beleive that at least a 10% drop is imminent I would advise waiting it out.

    August 10, 2011 at 10:19 AM #718363
    SD Realtor
    Participant

    What you think is inconsequential. What is important is what do the sellers think? Submitting a lowball offer is virtually effortless so ask you agent to do so. If you find that your offer is in line with comps, then you can have your agent send the comps to try to bolster your argument. Time on market is important as well as submitting a lowball offer to a home recently listed is much less likely to get a response then submitting a lowball offer to a home with a few months on the market.

    So shoot off the lowballs and be patient. Be prepared for many declines or no responses. If you are patient (and realistic) though the market will come to you.

    August 10, 2011 at 10:19 AM #717167
    SD Realtor
    Participant

    What you think is inconsequential. What is important is what do the sellers think? Submitting a lowball offer is virtually effortless so ask you agent to do so. If you find that your offer is in line with comps, then you can have your agent send the comps to try to bolster your argument. Time on market is important as well as submitting a lowball offer to a home recently listed is much less likely to get a response then submitting a lowball offer to a home with a few months on the market.

    So shoot off the lowballs and be patient. Be prepared for many declines or no responses. If you are patient (and realistic) though the market will come to you.

    August 10, 2011 at 10:19 AM #717851
    SD Realtor
    Participant

    What you think is inconsequential. What is important is what do the sellers think? Submitting a lowball offer is virtually effortless so ask you agent to do so. If you find that your offer is in line with comps, then you can have your agent send the comps to try to bolster your argument. Time on market is important as well as submitting a lowball offer to a home recently listed is much less likely to get a response then submitting a lowball offer to a home with a few months on the market.

    So shoot off the lowballs and be patient. Be prepared for many declines or no responses. If you are patient (and realistic) though the market will come to you.

    August 10, 2011 at 10:19 AM #718003
    SD Realtor
    Participant

    What you think is inconsequential. What is important is what do the sellers think? Submitting a lowball offer is virtually effortless so ask you agent to do so. If you find that your offer is in line with comps, then you can have your agent send the comps to try to bolster your argument. Time on market is important as well as submitting a lowball offer to a home recently listed is much less likely to get a response then submitting a lowball offer to a home with a few months on the market.

    So shoot off the lowballs and be patient. Be prepared for many declines or no responses. If you are patient (and realistic) though the market will come to you.

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