Good house bid (Round Rock, Leander: appraise, for sale, new home)

[Taterhead]

What is a good bid that won't insult the owners? We see several 3 car garage homes in Round Rock for 240-280. Mayfield ranch for example, has 2 homes for sale that have 3 car garages 1 is 269.000 and the other is 242.900.We can't pay more then 250 tops for our next house, so I was thinking an offer on the 242 home could be maybe 232 and the 269, offer them say 250. Is that too low and offer?

[achtungpv]

I'd see how long it's been on the market. If it's already been dropped once and relisted, I'd low ball them. Your agent should be able to find out that info from MLS. Can agents find out actual sale prices compared to list price for other homes in the neighborhood? That'd be good info to know if so.

[Trainwreck20]

It all depends on what the going rate on similar houses is. There is not hard, fast rule. Some people ask outrageous amounts for their house. Others are right near what you would expect it to sell for. Unless you know the value of the house (which is, of course, partially dependent on how bad you want it), you cannot make a good bid.

Can agents find out actual sale prices compared to list price for other homes in the neighborhood?

One of the more useful aspects of realtors . A good realtor should be able to peruse sales data and find properties that are similar in value and see what they have sold for.

[HappyTexan]

Also another good place to check is the Appraisal Rolls for the county.
What I look for is when they took title (deed date) and what the assessed and appraised values are for the year.

Here's a link to WCAD:
http://www.wcad.org/

[Trainwreck20]

Remember, though, that appraised values are rarely the same as true market value.

[HappyTexan]

Trainwreck20..yes I agree with you. That's just a place where you can get more information to help you decide.

For example..if they've lived there a very long time, then a low bid might be accepted since the house would have appreciated alot over the years.

[austifornian]

I am not sure why you are so concerned about insulting the owners. Is it because you are randomly picking number below asking price or do you have justification in your own mind for the lower offer? A good bid is one that you are comfortable with and makes sense for you.
If you are serious about 250 being your absolute cap I would not offer 250. There is no room to accept a good counter offer in this scenario. You should keep your offers in range where you could accept a decent counter.

[mark311]

Homes in Mayfield Ranch are all fairly new. I think they're all less than about 4 years old. New homes are still being built there on a couple of empty lots and it has become a bit more desirable now with the new Elementary school that is planned for the new "Parkside at Mayfield Ranch" development behind it off of Sam Bass. Like others have stated, your realtor should be able to give you comparables to make an educated offer.

You might want to see if Vista Oaks (directly in front of Mayfield Ranch) has any 3 car garage homes to look at as well. Most homes in there are about 10 years old and are a bit cheaper than Mayfield Ranch. They're also in the same Leander ISD.

[achtungpv]

If they're still building in the subdivision, resales should be cheaper than new construction regardless of the market.

[llkltk]

It all depends on whether they are overpriced for the market. If not, I would consider your offers an insult.