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We are actively looking for a new home in the Charlotte area. We have no contigencies and are pre-approved. My question is how much over your projected budget would you look at homes. Like if your budget was $300K what's the highest price home you would look at knowing it's a buyers market and you can negotiate down?
What I'm finding (after selling 3 homes in Charlotte already in the past 10 years) is that many, many folks especially in the 300+ range are still way too high. Maybe it's because that is what they bought the homes for but they certainly aren't worth that at this point and may go lower.
If you saw a home for $380K new home been on the market for almost a year, would you put an offer in at $300K or is that completely unrealistic? I know they can just turn it down, but we want to stay in a realistic range to look at.
Thoughts?
I think you're coming at it from the wrong angle. First thing is establish in concrete what YOU want to spend and not a penny more. If it turns out to be less, that's a bonus to you. But don't fall in love and then decide to bump up.
Next decide what you DON'T want in a house. Yep, don't want which is different from most ppl. saying what they want.
That narrows the nabe, size, age, school, etc. etc. down to a manageable selection.
Now the mental thing: You must get into your head that the world is for sale. You must be convienced that any offer you feel you want to make is an offer your broker must bring to the seller. Do not listen to any broker that says it's too low. Or "we'll start there". Or, "the house across the street...". No, don't fall for all of that if that's the house for you at YOUR price.
Stand firm with your pricing and method of presenting an offer without getting emotional or falling in love with one house. Think how illogical it is that you found the house of your dreams and if you didn't get this one there's not another one just like it outhere that's less expensive.
So, I'm sure the real estate agents will have something to say about this response so, fire away. Tell us about comps, about bottoms, last sales, and the rest. Will not change my opinion one bit about the mental game of buying a house.That's where the action is.
Our budget max is 300K and after owning 5 homes already, I never fall in love so good advice.
Would 370K be pushing it? We did find a house we liked that was that price but won't pay more than 300K, it's been on the market a year...do you think it's worth trying for?
Our budget max is 300K and after owning 5 homes already, I never fall in love so good advice.
Would 370K be pushing it? We did find a house we liked that was that price but won't pay more than 300K, it's been on the market a year...do you think it's worth trying for?
Well it can't hurt to put in an offer, but they will likely think that is not your max and will counter you.
If 300K is your max I'd look at 330K or under. Whether or not the house is over priced by $80K an owner will likely NOT com down that much if they THINK their house is worth what they listed it for.
If your max budget is 300k I would not look at anything over 300K. Why max yourself out? Why not shoot for something in the 275 range, I think you would be suprised at what you can get. Ask yourself just because 300 is your max is that what you have to spend?
I can't see getting someone to drop their price from 380 to 300, that seems unrealistic IMO.
I think maybe some of us our assuming you are "maxing" yourself out at $300K. Giving you the benefit of the doubt, I think we can all safely assume you can well afford the $300K so no need for extra padding. Again answering just your "actual" question, look at houses around $330K mark, maybe $340K if they have been sitting for a while but I seriously doubt a home listed at $380K will come down to your $300K. Good luck!
Yes, your right last poster..maxing out would be closer to 400K, we are playing it safe at 300K..
Well, can you find out what the comps are in the neighborhood? If it's been at 380 for a year, there is a chance they are 20% give or take a few points overpriced for the current market. I've seen some houses drop as much as 30% in the last year.
I'm not a Realtor, I just look at houses online a lot
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