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11-02-2009, 11:56 AM
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Member
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Join Date: Nov 2009
Location: NC
22 posts, read 8,024 times
Reputation: 22
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Low ball offers are often not taken seriously, even in a bad market. That said, builders are ALWAYS motivated sellers. They are not homeowners living in the property having personal reasons to sell or "testing the market". They are about profit or cutting losses.
If there are no recent sales, do comparables of other similar builders in the same price bracket. Also look at the activity of resales in similar areas and price brackets.
Make a list of what's important to you. Once you have done the "math" with comps and your "personal needs" list, then you are in a position to make an educated offer. No one knows if the prices will continue to decline, plateau or increase in a particular area. You can only look at trends. $400+ is on the higher price range for the area and you will see less activity to analyze.
Buying from a tract builder in a new subdivision is more risky than buying in an established area. An established area has a more stable price valuation. New homes are all over the place, but you can get more "stuff", features, and incentives from the builder.
There's no magic answer other than to do your homework and make the best decision based on today's market and your housing needs.
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11-02-2009, 05:52 PM
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Member
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Join Date: Apr 2008
97 posts, read 55,323 times
Reputation: 14
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is it a good idea to offer them 280?
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11-02-2009, 06:21 PM
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Senior Member
Status:
"only 20 days to 90 degrees"
(set 2 days ago)
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Join Date: Oct 2006
Location: 29.76/-95.36
2,838 posts, read 278,829 times
Reputation: 776
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Quote:
Originally Posted by sue77
is it a good idea to offer them 280?
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No. |
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11-02-2009, 06:51 PM
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Member
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Join Date: Apr 2008
97 posts, read 55,323 times
Reputation: 14
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what woould be a good offer?
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11-02-2009, 07:56 PM
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Senior Member
Status:
"Celebrating the traditions of the Winter Solstice"
(set 8 days ago)
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Join Date: Feb 2008
Location: Ayrsley
1,096 posts, read 545,499 times
Reputation: 411
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Quote:
Originally Posted by sue77
what woould be a good offer?
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Your realtor should be the one with the best information to help you make an informed decision. |
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11-02-2009, 08:57 PM
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Member
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Join Date: Apr 2008
97 posts, read 55,323 times
Reputation: 14
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realtor is saying 400k
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11-02-2009, 09:18 PM
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Real Estate Agent
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Join Date: Sep 2006
Location: Union County, NC
1,588 posts, read 1,531,544 times
Reputation: 287
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is it a to-be-built home or inventory?
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11-02-2009, 10:10 PM
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Senior Member
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Join Date: Jan 2009
892 posts, read 374,287 times
Reputation: 306
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Quote:
Originally Posted by south.charlotte&union
is it a to-be-built home or inventory?
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Good question... I had been assuming it was inventory. Makes much more sense they would not negotiate if it is to be built. Now would a large amount of good faith money give them more incentive to negotiate? I'd think it would... |
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11-03-2009, 06:02 AM
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Real Estate Agent
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Join Date: Sep 2006
Location: Union County, NC
1,588 posts, read 1,531,544 times
Reputation: 287
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I have found builders to negotiate somewhat on to-be-built homes, it depends on the price point of the neighborhood and how quickly it is selling AND if the buyer is ready to go (meaning no contingencies). If you have no contingencies other than a financing contingency (i.e., house to sell) what might be helpful is to sit down with the builder, price out the house exactly the way you want it, and then make an offer. Have your realtor check and see the sale prices of the last few homes that closed in the neighborhood.
If it is an inventory home, they will likely be much more receptive to low offers. Remember an inventory home is costing the builder money every minute it sits there -- a to-be-built is not nearly to the same extent.
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11-06-2009, 10:11 PM
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Member
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Join Date: Apr 2008
97 posts, read 55,323 times
Reputation: 14
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thanks everyone for ur advice....it's to be built house....im thinking to offer 280
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