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Old 09-30-2009, 10:41 AM
 
91 posts, read 336,000 times
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We are looking to purchase a TH listed for 335k

Only 1 comp house has sold in the last year (2008) for 310k



What would be the depriciation, if any, from 2008?

What price should we expect to pay now in 2009?
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Old 09-30-2009, 10:55 AM
 
Location: Mount Laurel
4,187 posts, read 10,756,799 times
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No idea. it all depends in the area. Comp are just data point. If no house was sold in the development over the last year, you may need to look beyond 1 year and look at similiar neighborhoods/home.

You are looking for a fix percentages.. that's not how you use comp.
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Old 09-30-2009, 11:04 AM
 
Location: NJ
31,774 posts, read 36,404,095 times
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you could probably get it for 200k even today.

just kidding.

aim low.
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Old 09-30-2009, 11:17 AM
 
91 posts, read 336,000 times
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how low???
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Old 09-30-2009, 11:18 AM
 
91 posts, read 336,000 times
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Quote:
Originally Posted by sj08054 View Post
No idea. it all depends in the area. Comp are just data point. If no house was sold in the development over the last year, you may need to look beyond 1 year and look at similiar neighborhoods/home.

You are looking for a fix percentages.. that's not how you use comp.
Monmouth County
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Old 09-30-2009, 11:41 AM
 
398 posts, read 1,225,155 times
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You can probably aim to go about 10% to 15% lower than last year's price. Does that help?
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Old 09-30-2009, 11:42 AM
 
91 posts, read 336,000 times
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yes it does thank you
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Old 09-30-2009, 12:09 PM
 
Location: Bergen County, NJ
370 posts, read 1,293,076 times
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Quote:
Originally Posted by jog1151 View Post
We are looking to purchase a TH listed for 335k

Only 1 comp house has sold in the last year (2008) for 310k



What would be the depriciation, if any, from 2008?

What price should we expect to pay now in 2009?

When in 2008? If it was toward the end of the year there isn't a huge difference in sale prices of similar homes. If it was early 2008 there is a bigger change and I would bid a little lower. They can always counter offer.
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Old 09-30-2009, 01:32 PM
 
91 posts, read 336,000 times
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Quote:
Originally Posted by JerseyGirl08 View Post
When in 2008? If it was toward the end of the year there isn't a huge difference in sale prices of similar homes. If it was early 2008 there is a bigger change and I would bid a little lower. They can always counter offer.

september of 2008 was the last sale

in your opinion what would you offer?

comp house sold for 310k in 2008

seller is now asking 335 for similar TH in same complex
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Old 09-30-2009, 01:37 PM
 
861 posts, read 2,562,161 times
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How many days has it been on the market?
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