For all of you guys who are homeowners or newly owned

[bigeastbumrush]

Re: For all of you guys who are homeowners or newly owned

I saw a place in a culdesack in a pretty quiet neighborhood.. the yard could use some work but the lot is about 110000 sf 3 bd rm

They're trying to sell the place for about 330,000

I say for the payments that would come out too, that offer is too high

How do you bring people down on something like that?

First...you ask if the selling price is negotiable. You're asking out of respect. I'd also ask have they had the place recently appraised to see what they say. The appraisal amount will be revealed eventually but you want to know how serious they were about how they priced it.

Then...in this market...I'd offer a minimum of 10% less than the selling price. In your case...maybe $300K even.

Not trying to be an ***...but that's what I would do. It's a buyer's market.

This sounds bad but...don't get your heart (or your wife's) dead set on a place.

EDIT: Also, run the address on zillow.com to get an idea of it's value.

[fistofrage]

Re: For all of you guys who are homeowners or newly owned

I saw a place in a culdesack in a pretty quiet neighborhood.. the yard could use some work but the lot is about 110000 sf 3 bd rm

They're trying to sell the place for about 330,000

I say for the payments that would come out too, that offer is too high

How do you bring people down on something like that?

You throw out a low offer that isn't too insulting. If you go too low, you will be dismissed. Start off with 275k and see if they counter. Once you get them talking, start bringing examples of comp homes that have sold in the 275 range even if there are in a slightly worse location. Then give them your final offer. If their house has been on the market more than 3 months, its way overpriced.

[23]

Re: For all of you guys who are homeowners or newly owned

Thats some great advice that I will definitely take.. thanks for the site bigeast

275k would probably be ideal for us anyway, and eve if its not that place, I dont mind looking elsewhere. I live in an apartment while nice sized, it doesnt have the storage space that we need and with girls in the house, is the bathroom ever big enough? lol


I believe I saw the house on a flyer and the price was 330k, thats where I saw the price. Missed the open house, so I just went through the backyard and the side.

Yet and still, as nice as it would be, I am not settled on that one in particular. I just want something nice and comfortable and reasonable with enough space to do what we want, whether its a pool or a deck to bbq or whatever.

Im definitely not unreasonable but im not about to try to get a place for 300k and its the same size as the place im in now

[cardsfan2222]

Re: For all of you guys who are homeowners or newly owned

Do your homework man.

The housing market is so unstable right now. Being an owner means nothing if you buy right now and the home ends up losing value right off the bat.

On the flip side, if you do your homework you can buy a house now for significantly less than it would have sold for 5 years ago. If you plan on living there a few years, you don't have to worry as much about the value going down, as long as the housing market eventually turns around.

[bigeastbumrush]

Re: For all of you guys who are homeowners or newly owned

On the flip side, if you do your homework you can buy a house now for significantly less than it would have sold for 5 years ago. If you plan on living there a few years, you don't have to worry as much about the value going down, as long as the housing market eventually turns around.

Yes. From all reports that I have heard, they are expecting it to reach rock bottom in 4Q12.

For a first time homebuyer, they should cover all bases as to avoid the problems that some of us current owners have faced.

Can't get that downpayment back so why lose any equity you might have gained upfront by purchasing it undervalued.

[ScoobySnax]

Re: For all of you guys who are homeowners or newly owned

Very good advice in this thread. Things I've never even considered or thought of. Thanks fellas!

[23]

Re: For all of you guys who are homeowners or newly owned

Thats crazy, but hey... i guess the time is nearing for me to get out of this place

Not even sure bottomed out means anything in California anyway lol, but Ive def. seen some median prices shoot down and thats was completely necessary...people were out of their minds with some of the money they wanted

[mjb2124]

Re: For all of you guys who are homeowners or newly owned

Also, it really depends on your market...make sure to do research. The area I live in, the market was never overly inflated so it never crashed. Simply put, houses don't lose money in this area so buying is really the best option (renting is losing money). In 10 years, I fully expect the house my wife and I built 1.5 years ago to appreciate by 30-50k.

[12]

Re: For all of you guys who are homeowners or newly owned

Buying can be stressful but the thing to remember is that you're the one in control. I'm not against realtors, but then again, we had a very good one.

I paid the asking price because the houses in our price range were flying off of the market in 2009 when we bought. If you tried offering less, the offer was usually refused immediately. Our area was never really hit with the housing market blues, but when we bought it was a buyer's market.

Good luck... I don't regret it one bit, because I got sick and tired of renting.

[NDAlum]

Re: For all of you guys who are homeowners or newly owned

#1 rule: go ahead and say hi to prospective neighbors

Check out the crime in the area

Check out the demographics of the area

Live where you want to live man

I am currently in a situation where the wrong folks have made their way into my neighborhood and I want to get out. There are many good people, but the bad apples are going to ruin it.

[23]

Re: For all of you guys who are homeowners or newly owned

Yeah, im in Los Angeles and places have definitely been hit here

As much as Id love a dream home, Ill take a mini one lol

pool 3brd with 2 baths a den, big kitchen, big rooms... its not impossible

[bigeastbumrush]

Re: For all of you guys who are homeowners or newly owned

I would love to move to the West Coast but you guys prices out there are just ridiculous.

I know a ripoff when I see it.

[NDAlum]

Re: For all of you guys who are homeowners or newly owned

Also remember for every foot of lawn and square footage of home space/wall space...

YOU HAVE TO TAKE CARE OF IT!

I f'n hate lawn care

My lawn hates me due to how terrible it is

[st67]

Re: For all of you guys who are homeowners or newly owned

We got a really good realtor, and I highly recommend it.

Not only did she show us houses and set ours up for listing, she went through everything when we were looking and when we were going through with our deal. She was a ton of help; and when it came to making an offer she ended up getting us a good $10k off the asking price.

It made things a lot easier - because anytime we were unsure of something, she knew the answers.

I wouldn't buy without her next time.

[23]

Re: For all of you guys who are homeowners or newly owned

I would love to move to the West Coast but you guys prices out there are just ridiculous.

I know a ripoff when I see it.

Weather makes up for it