Greenfield housing prices (for sale, real estate, how much)

[icantthinkofanick]

This may be more of a general real estate question, but I'm noticing it quite a bit in greenfield. I've currently been looking at houses in the east end ish area and love greenfield for its proximity to everything. From what I've read, it seems like a decent place to live. One thing I've noticed is how the house prices fluctuate wildly even on the same street or nearby streets. I see sub 100K and mid 100K houses scattered throughout.Is there a reason for this? Some houses are just more updated? Is buying a 160K house just going to have its value dragged down by the rest of the areas prices? Or am I just insane for contemplating a 160K house in greenfield in general?

[BrianTH]

Some of it may be sellers being ambitious with pricing, but there is also widely varying condition.

[gg]

Originally Posted by icantthinkofanick

This may be more of a general real estate question, but I'm noticing it quite a bit in greenfield. I've currently been looking at houses in the east end ish area and love greenfield for its proximity to everything. From what I've read, it seems like a decent place to live. One thing I've noticed is how the house prices fluctuate wildly even on the same street or nearby streets. I see sub 100K and mid 100K houses scattered throughout.Is there a reason for this? Some houses are just more updated? Is buying a 160K house just going to have its value dragged down by the rest of the areas prices? Or am I just insane for contemplating a 160K house in greenfield in general?

1. Don't overpay for a home.
2. Look at all those homes to compare them. Go inside them, if they are for sale and find out if the seller is justified in the price. Maybe there is a powder room and master bath, or finished basements or who knows what is done inside. Really nice kitchens are a big ticket item.
3. Sellers can ask whatever they want. Asking prices mean very little. Occasionally some outside buyer will buy a home that is WAY overpriced and then people in that area feel that is the new normal asking price point for the area. Then they list their homes for that wild price and they sit for years.

Good luck with your purchase.

[I_Like_Spam]

A lot of sellers base the asking price on the money they put into the home, or what they think its worth- not on the reality of the market place.

When I was shopping for a home 6 years ago, I made a bid on a property that had been on the market for 18 months. I proposed about 10% off the list price, but the seller was adament that they had to have every dime for the vacant house. So I didn't buy it.

They ended up selling to someone else for $2500 less than I bid, 8 months later.

[selltheburgh]

Greenfield has mixed inventory. Some updated houses, some run down houses and a lot in the middle. Also the square footage and amenities vary greatly.

[Bong477]

This isn't unique to Greenfield, any older neighborhood will have quite a bit of variation in prices some for legitimate reasons (such as size and condition of home), some from intentional or unintentional bad pricing, and some from how bad the sellers wants to sell the home.

As always, best to look at what homes have actually sold for than what they are listed for. No one regulates how much you can list a house for, but the free market dictates what they actually sell for. A good real estate agent will help, but you should do your own research too.