put an offer on a house

[4wd]

Good Luck!

I guess in my area, if a house like yours came on the market at $225k and a corp owned it, I wouldn't bid over 1/2 or $112,500 to start it out...Housing market here is flat with nothing bringing within 30% of the asking price. In another 6 to 9 months, the banks will start foreclosing, then the real discounting will begin, only the sellers (banks) will also very attractive terms to help the sale. Then, there will be properties sell for 10-20 cents on the dollar with seller financing. That's the time to move 'cause it won't last long.

 

[dadofthree]

(jwcfbd @ Aug. 23 2007,12:58)

(dadofthree @ Aug. 23 2007,12:00) Good luck man, looks like a nice hood with a great road for the Busa ( future ) . How many square feet heated ? garage ? Looks like a steal.

Thanks I think the whole 2560 is heated space.

Holy Shid Batman; the structure alone in my poor azz area would be 250K. Way go

 

[Revolution]

best wishes. here on long island...about 500,000.

the house you're looking at looks good.

 

[ks-waterbug]

Very nice looking pad/pond... Hopefully it'll work out for you cause if memory serves correct things were kind of tough not that long ago. Just nice to see things doing a turn around for a fellow oRg Brother!

 

[jwcfbd]

(4wd @ Aug. 23 2007,14:32) Good Luck!

I guess in my area, if a house like yours came on the market at $225k and a corp owned it, I wouldn't bid over 1/2 or $112,500 to start it out...Housing market here is flat with nothing bringing within 30% of the asking price. In another 6 to 9 months, the banks will start foreclosing, then the real discounting will begin, only the sellers (banks) will also very attractive terms to help the sale. Then, there will be properties sell for 10-20 cents on the dollar with seller financing. That's the time to move 'cause it won't last long.

Thanks I'm not sure how long the company has owned it but the price has already been dropped $50,000. I should hear something tonight but not holding my breath. The listing agent seem very happy with the offer so we'll see what she does to push it through.

 

[jwcfbd]

(Revolution @ Aug. 23 2007,14:41) best wishes. here on long island...about 500,000.

the house you're looking at looks good.

Thanks. The one good thing about GA is that it is still of the more affordable states. I've looked into moving but always wind up back to looking around here. To much to lose in the way of value.

 

[jwcfbd]

(ks-waterbug @ Aug. 23 2007,16:21) Very nice looking pad/pond... Hopefully it'll work out for you cause if memory serves correct things were kind of tough not that long ago. Just nice to see things doing a turn around for a fellow oRg Brother!  

Thanks
It's been a fun ride and things are definitely turning around.

How are things working for you?

 

[ks-waterbug]

Much better in about 6 weeks.... I'll be back home in Ks with the family for the first time in Six Months! Thanks for asking. Of course you know will want pic's when you finally move in!

 

[jwcfbd]

(ks-waterbug @ Aug. 23 2007,19:19) Much better in about 6 weeks.... I'll be back home in Ks with the family for the first time in Six Months! Thanks for asking. Of course you know will want pic's when you finally move in!  

good to hear and yes pictures will follow.

 

[Fate]

(whitele @ Aug. 23 2007,05:47) Good luck! Nice looking house and enough room for a GTG  

If it's your first offer, they usually counter. Get ready for a price waltz.

One thing to keep in mind, it's being sold "as-is" what are you going to do if the home inspector find needed repairs? They may not want to budge on price because it's 'as-is' and you don't want to get stuck with $5-15k in additional repairs. Just a thought.

When we bought our house, I agreed to the asking price and the home inspector found that there was no support for part of the house  

 Had the home owner repair it (About $10k) and kept the price the same.

Keep your eyes open....

If it is corporate owned (forclosure) the banks will not do any repairs unless they are health issues such as mold or termites sometimes. Very rare even then. Foreclosures are up all over the country and there is a good chance they will take much lower ofers just to get rid of their surplus inventory of foreclosures. Texas is getting hit by the bad market really hard. Hopefully right after the election things will come back around. Saint louis had a 30% increase in foreclosures from '05 to '06. It had a 90% increase in '06 to '07. Florida and California are the worst right now, Houses in Miami were down in value 17% last year and another 17% this year.

 

[jwcfbd]

surprising enough they rejected my offer

So I did what anyone else would do. I caughed up $10,000 more. They are fixing the pool and putting in a new liner so that will save me about $3000. I still think I am getting a really good deal on this place but my offer is still based the on inspection. That way I still have an out if it looks like it is going to fall apart. We'll see what happens next.

 

[4wd]

Are you saying you raised your own bid $10g's without anyone else bidding against you?

 

[jwcfbd]

(4wd @ Aug. 24 2007,20:48) Are you saying you raised your own bid $10g's without anyone else bidding against you?

yeah but we knew we low balled the hell out of them and I'm still asking that they pay all closing cost, up to $5000. Even with the little work the this place needs for what I'm offering I haven't found anything else that comes close. The smaller homes in the neighborhood are selling for more then what this one is listed at. In 2003 this house sold for 169,400 and prices have done nothing but gone up since then. The price started out at $225,000, then 195,000 and now 174,900 so that is why I did what I did. Once it gets inspected and appraised I will make a final decision if the price is right or not. If it is worth less then my offer I walk.

 

[4wd]

yeah, well, I guess I don't have a clue, 'cept every 10g raise gets you one less busa in the garage

Good Luck! If you keep raising you'll get it bought, but remember it is YOUR money and THEY want it, and I probably have said enough. GOOD LUCK

 

[dadofthree]

good luck dude

 

[jwcfbd]

(4wd @ Aug. 24 2007,21:37) yeah, well, I guess I don't have a clue, 'cept every 10g raise gets you one less busa in the garage

Good Luck! If you keep raising you'll get it bought, but remember it is YOUR money and THEY want it, and I probably have said enough. GOOD LUCK

I hear what your saying and you're right. I should have gone less but I would hate to lose it. I know that's not the way to buy a house but at the same time this is exactly what I've been looking for all year.

 

[jwcfbd]

(dadofthree @ Aug. 24 2007,21:48)

good luck dude  

thanks