How much can i negotiate down

[clongirl]

I absolutely agree with consider_again. Get this into your heads- It is the buyers that determine the price and value of the properties- NOT the sellers or the real estate agents! The more uneducated people are, the more housing prices will continue to be absolutely outrageous for the average person. If the sellers do not want to even negotiate on your price, then, it is THEY who might suffer if that house sits on the market for another 6 months or longer. Do your research- find out how many of those condos have sold, how many are just sitting etc. Most of these builders are suffering right now and want to sell something to you.

[Consider_Again]

With the feds decision today to not lower interest rates and foreclosures increasing, your chances of “negotiating down” are getting better.

Some home owners that bought way more house than they could afford thinking their 1970’s, 1600 sq ft, starter/tract home would keep appreciating to millions of dollars are going to face reality before long.

The banks will likely consider $300k a very reasonable offer for the above cracker-box regardless that someone else with too much exposure to cheap credit (temporarily at least) paid $650k + for it.

Excluding beach and similar exclusive locations, it would not surprise to see 20-40% price corrections from today’s levels over the next year or so. Now is not the time to buy in Southern California. But the time is coming.

P.S. DO NOT believe a realtor or seller that makes a blanket statement that you are “wasting everyone’s time” by making an offer they do not like. They absolutely do not have your best interest in mind.

[sierraAZ]

Originally Posted by california_is_superior

So guys the house im specifically looking at is priced at 800k and has been on the market for 6 months. Im looking to pay no more the then 650. How should apporach the realtor about my price limit. What if he becomes offened by my offer? should i care? Is the best time to purchace a house ?

thanks

He-he, just go through this blog (CA specific) - Bubble Markets Inventory Tracking - and don't be afraid to be offensive!