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Old 03-16-2008, 02:27 PM
 
10 posts, read 25,911 times
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I posted on another thread, but really need some more opinions about purchase price. I love a house in Seven Oaks. It is 2880 sqft., 5bd/3bth on
65x115 lot. We are negotiating a price which has come down to 345000.00. Houses in this subdivision were originally listed in the 450000's. Houses with less sqfootage were sold at 345000 recently. My husband says to wait, but I really don't want to miss this house.We also have friends in the same neighborhood in this development. The builders say this is the lowest they can go and I need to get back to them. What do you think? Do you think this is a fair price on an inventory home in this development?
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Old 03-16-2008, 02:54 PM
 
25,881 posts, read 39,166,424 times
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I know you want other responses and I already wrote a response but I can only tell you from a friends recent experience with a builder in Knollpoint. They had great incentives and it was the bottom price and incl. a lot. After signing the prices went down and just before closing when he told the builder he would back out of the deal and walk away from the deposit, the builder took $ 10K off, so they were lucky, and the builder desperite. I do feel prices will come down a little but you have to be careful to be emotional to attached in order to make a good deal. Try to offer the builder a lower price and if they refuse just wait and give your number, if they have more inventory homes there the chance the builder is going to call are high, or wait and go back in a couple of weeks. If you get a better deal it is wort waiting for. I agree with your husband and hope you are not mad with me for agreeing with him instead with you although I totally understand you, but money is money.
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Old 03-16-2008, 03:09 PM
 
29 posts, read 133,369 times
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Quote:
Originally Posted by ByeByeLI View Post
I posted on another thread, but really need some more opinions about purchase price. I love a house in Seven Oaks. It is 2880 sqft., 5bd/3bth on
65x115 lot. We are negotiating a price which has come down to 345000.00. Houses in this subdivision were originally listed in the 450000's. Houses with less sqfootage were sold at 345000 recently. My husband says to wait, but I really don't want to miss this house.We also have friends in the same neighborhood in this development. The builders say this is the lowest they can go and I need to get back to them. What do you think? Do you think this is a fair price on an inventory home in this development?
There's really no sense posting another thread just to get an answer to your question. You already know the answer. You want the house, so regardless of the price coming down or not, you are still willing to put an offer on its current price.

Here are some indicators from the Economist that may help in your decision making:

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Oil prices reached a new record on March 12th, when the price of a barrel of West Texas Intermediate rose above $110.
Quote:
American employers, excluding farms, cut 63,000 workers from their payrolls in February, the largest decline in almost five years. The unemployment rate nevertheless edged down from 4.9% to 4.8%, as many jobseekers gave up looking for work. America's trade deficit widened slightly, from $57.9 billion to $58.2 billion in January.
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Old 03-16-2008, 03:14 PM
 
10 posts, read 25,911 times
Reputation: 10
Thanks again, I appreciate your responses.
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