Home › Forums › Closed Forums › Buying and Selling RE › When is a low offer too low?
- This topic has 90 replies, 11 voices, and was last updated 15 years, 2 months ago by
sd_matt.
-
AuthorPosts
-
March 7, 2009 at 6:02 PM #362553March 7, 2009 at 6:13 PM #361967
PCinSD
GuestWhat stansd means is that you haven’t provided enough information. Too many variables. You’d need to post the actual properties, or something comparable. Even then, it’s tough to say.
March 7, 2009 at 6:13 PM #362264GuestWhat stansd means is that you haven’t provided enough information. Too many variables. You’d need to post the actual properties, or something comparable. Even then, it’s tough to say.
March 7, 2009 at 6:13 PM #362408GuestWhat stansd means is that you haven’t provided enough information. Too many variables. You’d need to post the actual properties, or something comparable. Even then, it’s tough to say.
March 7, 2009 at 6:13 PM #362451GuestWhat stansd means is that you haven’t provided enough information. Too many variables. You’d need to post the actual properties, or something comparable. Even then, it’s tough to say.
March 7, 2009 at 6:13 PM #362558GuestWhat stansd means is that you haven’t provided enough information. Too many variables. You’d need to post the actual properties, or something comparable. Even then, it’s tough to say.
March 7, 2009 at 6:30 PM #361977sd_matt
ParticipantMarch 7, 2009 at 6:30 PM #362275ParticipantMarch 7, 2009 at 6:30 PM #362420ParticipantMarch 7, 2009 at 6:30 PM #362461ParticipantMarch 7, 2009 at 6:30 PM #362568ParticipantMarch 7, 2009 at 6:32 PM #361982Effective Demand
ParticipantHave your agent pull sales in the city for the last 6 months, they can get it as a CSV. Then open that in excel and look at Sales Price / List Price for all the properties. That will give you a feel of what type of low balls are working.
Sales Price / Original List Price gives you an idea of how well people are pricing their properties.
Generally speaking, median priced homes go for around list (many REOs go for 103-105% of list because the buyers are rolling closing costs into the loans) because that is where all the demand is.
If you think of a bell curve it is usually the margins where the big price breaks off list happen. But I would say any bank owned home on market over 60-90 days is more likely to be lowballed. But usually (not always) they are pretty responsive to the market because they do BPOs and just match price at or under the market price reported by the BPOs.
March 7, 2009 at 6:32 PM #362280ParticipantHave your agent pull sales in the city for the last 6 months, they can get it as a CSV. Then open that in excel and look at Sales Price / List Price for all the properties. That will give you a feel of what type of low balls are working.
Sales Price / Original List Price gives you an idea of how well people are pricing their properties.
Generally speaking, median priced homes go for around list (many REOs go for 103-105% of list because the buyers are rolling closing costs into the loans) because that is where all the demand is.
If you think of a bell curve it is usually the margins where the big price breaks off list happen. But I would say any bank owned home on market over 60-90 days is more likely to be lowballed. But usually (not always) they are pretty responsive to the market because they do BPOs and just match price at or under the market price reported by the BPOs.
March 7, 2009 at 6:32 PM #362423ParticipantHave your agent pull sales in the city for the last 6 months, they can get it as a CSV. Then open that in excel and look at Sales Price / List Price for all the properties. That will give you a feel of what type of low balls are working.
Sales Price / Original List Price gives you an idea of how well people are pricing their properties.
Generally speaking, median priced homes go for around list (many REOs go for 103-105% of list because the buyers are rolling closing costs into the loans) because that is where all the demand is.
If you think of a bell curve it is usually the margins where the big price breaks off list happen. But I would say any bank owned home on market over 60-90 days is more likely to be lowballed. But usually (not always) they are pretty responsive to the market because they do BPOs and just match price at or under the market price reported by the BPOs.
March 7, 2009 at 6:32 PM #362466ParticipantHave your agent pull sales in the city for the last 6 months, they can get it as a CSV. Then open that in excel and look at Sales Price / List Price for all the properties. That will give you a feel of what type of low balls are working.
Sales Price / Original List Price gives you an idea of how well people are pricing their properties.
Generally speaking, median priced homes go for around list (many REOs go for 103-105% of list because the buyers are rolling closing costs into the loans) because that is where all the demand is.
If you think of a bell curve it is usually the margins where the big price breaks off list happen. But I would say any bank owned home on market over 60-90 days is more likely to be lowballed. But usually (not always) they are pretty responsive to the market because they do BPOs and just match price at or under the market price reported by the BPOs.
-
AuthorPosts
- The forum ‘Buying and Selling RE’ is closed to new topics and replies.