Help::What is the Housing market trend in Highlands/Cherokee Triangle??

[stx12499]

Originally Posted by nik

We closed on a house in the Cherokee Triangle in December and paid about 10% under asking (which had been reduced -- it was a little over 15% original asking). I think you should determine what YOU think the house is worth based on comps, etc. and make a good argument to the sellers. That's what we did.

That seems reasonable. Work the price down. But a well located home in Cherokee Triangle never goes so low as to become "a steal." Yes, 20% in two years is alot if they didn't add an inground pool in the back, a renovated basement, kitchen, and add a great room, but then again, who is to say what a house is worth to you. If you want it, but it at any reasonable cost. My point is there is no "stealing" homes in the Triangle because of a down market. They may be asking too much, but I cannot tell you without knowing the details. If you care to give the address to me by PM I may be able to be more specific on my assesment after seeing pictures, renovations, and amenities.

[tanz1904]

Thanks to everyone for the advice... We will be putting an offer this week... Will keep u posted.

[Off Topic]

I think the seller's problem is that he's going to have to pay at least $12,000 to $13,000 in realtor fees, which means that he's already losing money on his investment even if you give him $220,000, which I think is a little high.

The thing is, that's not your problem that he overpaid two years ago. Losing $3,000 is bad, but it's not as bad as delaying another six months and then losing $4,000. The problem is that he probably has not come to that realization yet. He'll be a lost easier to deal with in 6 months, but can you wait that long?