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Old 07-11-2008, 12:47 AM
 
128 posts, read 447,356 times
Reputation: 55

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Location: Happy Valley and 19th ave. area (noth east of I-17)
Bedrooms : 4
Bathrooms : 2
Size : 2250 SQFT
Built : 2003
Builder : DR Horton
Garage : 2 car
Stories : Single Level
Price : $310,500

What kind of offer do you guys think I should make on this home?

Thanks

Mike
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Old 07-11-2008, 12:51 AM
 
3,632 posts, read 16,174,571 times
Reputation: 1326
Very difficult to say unless you could look up the comps for that neighborhood. Sounds like you need a realtor, that's what they are there for to help you come up with a good offer.
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Old 07-11-2008, 01:39 PM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,788,051 times
Reputation: 3876
Quote:
Originally Posted by mike.main View Post
Location: Happy Valley and 19th ave. area (noth east of I-17)
Bedrooms : 4
Bathrooms : 2
Size : 2250 SQFT
Built : 2003
Builder : DR Horton
Garage : 2 car
Stories : Single Level
Price : $310,500

What kind of offer do you guys think I should make on this home?

Thanks

Mike
You should really be careful about getting advice from people on what to offer on a house. We do not know your personal situation, and we don't know anything about that house.

This is a job for your realtor. S/he should be helping you to determine the value of the home, and given the current market conditions in that zip code and community, should help you to formulate a maximum price to pay, and then help you formulate an offer/negotiation strategy. All of that takes time in order to do it right.

In order to even begin to help you, I would need to know the exact house and the condition. But then again, without seeing the home, I would be shooting in the dark about the condition.

What I can tell you is that in the 85055 zip code there are 81 homes currently listed in the 300k t0 400k price range. There were 12 homes sold in June which gives that zip code area currently a 7 month inventory supply, which is still a buyers market. There are 9 Pending sales, so the Pending to Sold ratio is 0.75, which indicates a lagging market. This is in the buyers favor. Of course in the specific community where this house is, the market could be different.

Without the address and the condition of the home it's impossible to determine a value from the comps. It takes me about an hour to do a good comparison of a property after I've viewed and photographed it, and I can't take that kind of time here. So I suggest that you work with your realtor, and make him/her do their job for you. That's a part of what realtors get paid for.
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