Houses on market for long time- no offers

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at comps that have sold over past year.

No recent sales in 30 days around this area. Comps show sold homes at inflated prices in May and June at around 870K.

I’d probably offer $780-800. But know that whatever you end up paying it may not be worth that much in 6-12 months. Which is fine; just know that going in.

No seller would accept that when they are asking 950. They wouldn’t even respond with a counter offer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at comps that have sold over past year.

No recent sales in 30 days around this area. Comps show sold homes at inflated prices in May and June at around 870K.

Good luck getting much of a discount, maybe offer 850?

Home is on the market and there is no traffic in this are at all but there are no price cuts yet. We are going to wait on sidelines for now.

Just want to add the main reason is the home will not appraise for that price.

It sounds like it could appraise between 870 and 900. Not saying that it will sell for that, but the comps would support that price. Appraisers can use any comps from past 6 months.

Comps pulled is in the range of 780K to 850K. That boils down to median $185.50/sqft. For 4300 SQFT home, the price comes up to 798K. Seller listed for 950K and expects an offer over that price.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at comps that have sold over past year.

No recent sales in 30 days around this area. Comps show sold homes at inflated prices in May and June at around 870K.

Good luck getting much of a discount, maybe offer 850?

Home is on the market and there is no traffic in this are at all but there are no price cuts yet. We are going to wait on sidelines for now.

Just want to add the main reason is the home will not appraise for that price.

It sounds like it could appraise between 870 and 900. Not saying that it will sell for that, but the comps would support that price. Appraisers can use any comps from past 6 months.

Comps pulled is in the range of 780K to 850K. That boils down to median $185.50/sqft. For 4300 SQFT home, the price comes up to 798K. Seller listed for 950K and expects an offer over that price.

Earlier you posted two sales at 870,000 within last 6 months. Also, you indicated that house has a better location than others that sold for less or are on market currently. Neither seller or appraiser is going to ignore the higher comps even if you believe house is no longer worth that.

[Anonymous]

Anonymous wrote:Why not buy one of the other similar homes on the market? There seems to be something about this one that is worth a premium.

+1

[Anonymous]

Anonymous wrote:What would one offer for a home that was sold at 650K in 2018, tax assessment at 520K but seller listed for 950K 3 months ago. No buyers and no offers so far. Obviously there are other homes in the vicinity for 780 K to 850 K range on the market as well in similar size and shape.
What will be a reasonable offer for this overpriced home?

I would offer $910k. If they were desperate, they would've already reduced the price.

[Anonymous]

You can offer $880k but show willingness to negotiate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at comps that have sold over past year.

No recent sales in 30 days around this area. Comps show sold homes at inflated prices in May and June at around 870K.

Good luck getting much of a discount, maybe offer 850?

Home is on the market and there is no traffic in this are at all but there are no price cuts yet. We are going to wait on sidelines for now.

Just want to add the main reason is the home will not appraise for that price.

It sounds like it could appraise between 870 and 900. Not saying that it will sell for that, but the comps would support that price. Appraisers can use any comps from past 6 months.

Comps pulled is in the range of 780K to 850K. That boils down to median $185.50/sqft. For 4300 SQFT home, the price comes up to 798K. Seller listed for 950K and expects an offer over that price.

Earlier you posted two sales at 870,000 within last 6 months. Also, you indicated that house has a better location than others that sold for less or are on market currently. Neither seller or appraiser is going to ignore the higher comps even if you believe house is no longer worth that.

Not sure what you are talking about when you say 870K within last 6 months. Sales range from 780 to 850 K.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at comps that have sold over past year.

No recent sales in 30 days around this area. Comps show sold homes at inflated prices in May and June at around 870K.

Good luck getting much of a discount, maybe offer 850?

Home is on the market and there is no traffic in this are at all but there are no price cuts yet. We are going to wait on sidelines for now.

Just want to add the main reason is the home will not appraise for that price.

It sounds like it could appraise between 870 and 900. Not saying that it will sell for that, but the comps would support that price. Appraisers can use any comps from past 6 months.

Comps pulled is in the range of 780K to 850K. That boils down to median $185.50/sqft. For 4300 SQFT home, the price comes up to 798K. Seller listed for 950K and expects an offer over that price.

Earlier you posted two sales at 870,000 within last 6 months. Also, you indicated that house has a better location than others that sold for less or are on market currently. Neither seller or appraiser is going to ignore the higher comps even if you believe house is no longer worth that.

Not sure what you are talking about when you say 870K within last 6 months. Sales range from 780 to 850 K.

I assume you wrote this, op:

No recent sales in 30 days around this area. Comps show sold homes at inflated prices in May and June at around 870K.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at comps that have sold over past year.

No recent sales in 30 days around this area. Comps show sold homes at inflated prices in May and June at around 870K.

Good luck getting much of a discount, maybe offer 850?

Home is on the market and there is no traffic in this are at all but there are no price cuts yet. We are going to wait on sidelines for now.

Just want to add the main reason is the home will not appraise for that price.

Add an appraisal contingency. How is this hard?

[Anonymous]

Seems like your realtor should be advising you, not dcum. I agree w/other posters who asked what it is worth to you? If you love the house and what you offer is within your budget and you have contingencies to protect yourself, what is the problem? All these people “sitting on the sidelines” playing the market may be sorely disappointed if things don’t play out as expected.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Look at comps that have sold over past year.

No recent sales in 30 days around this area. Comps show sold homes at inflated prices in May and June at around 870K.

Good luck getting much of a discount, maybe offer 850?

Home is on the market and there is no traffic in this are at all but there are no price cuts yet. We are going to wait on sidelines for now.

Just want to add the main reason is the home will not appraise for that price.

Add an appraisal contingency. How is this hard?

Don't waste your time on this one. There are plenty of homes around that you can look at.

[Anonymous]

I am looking at multiple homes that went into pending status at the beginning of past 2 months and then relisted after 15th. Does anyone know why this is happening? Will this inflate the pending homes in the report when it is not really pending? Will it show reduced inventory in the report because home is considered pending at the time of report run?

Have you all noticed anything like this?

[Anonymous]

tax assessment means zero

[Anonymous]

Anonymous wrote:I am looking at multiple homes that went into pending status at the beginning of past 2 months and then relisted after 15th. Does anyone know why this is happening? Will this inflate the pending homes in the report when it is not really pending? Will it show reduced inventory in the report because home is considered pending at the time of report run?

Have you all noticed anything like this?

Financing didn’t go through, inspection turned out some problems and sellers weren’t willing to negotiate.

[Anonymous]

A lot of listing appears to be for homes where owners are living right now. Looks like they are giving it a shot to see if it sells for extremely high prices. If it does, they plan to rent back for few months and move. That tactics does not work anymore. We only consider vacant homes now.