What would be a fair offer for this house? (Plano: sale, foreclosure)

[gina999]

She is very nice but not beyond appreciating extra few thousands ... anyways, some posters here have impressive real estate IQ. BTW I just got a verrrrrrrrrrrrrrrrrry good offer from a motivated seller in Gleneagles, let's see ... I'm more inclined to put an offer on that house.

[loves2read]

if you are shopping the market for the house whose price you like the best
vs
shopping the market for the house you like at the best price
then I don't think our advice is really germaine
your objective is price--not neighborhood or other features and something none of us can really quantify for you

[Rakin]

Originally Posted by loves2read

if you are shopping the market for the house whose price you like the best
vs
shopping the market for the house you like at the best price
then I don't think our advice is really germaine
your objective is price--not neighborhood or other features and something none of us can really quantify for you

Some people will buy any piece of junk as long as they get a great deal. The deal is more important then a quality house.

[loves2read]

yes--and I don't know that thinking about the 20K you shaved off the price is what makes a house liveable day to day...

[gina999]

I narrowed it down to few houses that I like in the neighbourhoods of choice and now I'm trying to figure out the best deal. All of these houses are really nice but none is a dream house so I'm in a good bargaing position. I'm not the foreclosure hunter type ... just hoping to save some of my hard earned money for rainy days.

[Matt2010]

Originally Posted by loves2read

I don't know about comps for that specific area--and comps aren't always the last word anyway...
you need to see if some of the comps are result of special circumstances--foreclosure, short sale, divorce, death--forces that caused owners to sell at price they probably did not really want to...
sometimes that really is difficult to tell--threat of foreclosure can put some people in that position--
that is why having a RE agent who does know that area is worth the commission

and some houses will still carry a premium value to some buyers--it is putting the right house and buyer together that is the trick...

So just looking at the details on the houses in that subdivision this is what I would say as a shopper--

The house you are asking about is one of three listed in MLS on site I use--
and is middle of the three--for price and size---and been up for sale for 5 mo or so

the backyard offers privacy from neighbors --although there is not much useable space past the pool--
the neighboring houses don't look directly into the backyard and being on that creek means the house behind you is farther away and screened by trees
in summer I imagine it is almost complete--that is a rare commodity in many areas--even in this price point-- .........................

Amazing, awesome info from just the listings (and the pictures in the listings)...

[loves2read]

I think I am pretty good at using MLS photos and map feature to analyze houses---I can almost draw a floorplan because so many houses are tract designs and while I may not have been in THAT house --depending on the age and builder--I likely have been in one similar...

I spend almost 4 years off and on house shopping for new house--
we just wanted different house--no deadline to move--
changed our minds several times about where we wanted to move and what type of floorplan/must haves we wanted...and price--we had to educate ourselves about what our price point really was--and eventually raised it by 100K

but I do think I can break down what makes some homes more desireable/marketable than others in general---
you never know what will work with every set of buyers--and sometimes a house you think would never sell makes someone very happy...

house across the street from ours in our previous neighborhood had been bought/sold probably 5 or 6 times--went into foreclosure once back in the 90s--and one of the owners converted the garage to game/play room and parked on the pull through driveway...
someone else bought the house--did more remodeling, put in pool, and a detached garage (to sell the house)...but also blended two small bedrooms into one large one--
we thought that was kiss of death for finding a new buyer when it was on the market and it did sit there for months--but finally the nurse at the local elementary school and her husband bought it--
they did not want a house with extra bedrooms because they said they wanted no company sleeping over...
go figure--match made in heaven...
and they are such nicer people than the ones they bought from...

[Twincam666]

Offer what YOU feel it's worth to you? Either you will pay a certain price for it or you're really not interested????

[Plano Guru]

I went to one of their open houses when it first came on market at $626,000. It is a great house on a wooded creek-culdesac lot. It is ideally located in an upscale sub-division near highways, hospital, golf course, plano west schools, private schools, shopping, park, arbor hills nature preserve and willow bend area. It has ideal size and perfect floor plan. Only issue was that it was overpriced at that time and owner was not willing to come down. It is a steal at $559,000. If you can bring owner to $549,000 then you can spend $10,000 to do minor updates and sell it at $649,000 after few years when market picks up. Go for it!

[jane holt]

I live on Pelican Bay so I wander through all of these neighbourhoods and really like this home and one before it. The other house looks colonial and this house has meditranian or spanish style so they look more distinguished among brick and stone homes. Another home on this culdesac is under contract for $639,000. Cheapest property in this subdivision is listed for $429,000 becuse it has strange wall papers, old countertops, less square footage and no creek views. so house you are looking at is the best deal. Do check with the realtor because I heard that this house is now under contract so guess you missed the boat.