Reply to ONE House in Neighborhood Where We Really Want to Live (Wootton School Cluster) -How Much To Offer?

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Reply to "ONE House in Neighborhood Where We Really Want to Live (Wootton School Cluster) -How Much To Offer?"

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[quote=Anonymous][quote=Anonymous]OP I'm not sure if this is helpful but we looked in this neighborhood back in the fall of 2004. The prices back then were almost identical to what this house is listed. It seems that the 500K-800K houses have stayed the same in terms of cost over the bubble burst.

Its the 1M houses that are seeing the big reduction. The 500K-800K houses are attractive to people moving into the area or people who really need more space and are coming from townhouses. Before the bubble, it would be common for people who were doing well financially to sell their Westleigh house and then move up to a new 1M house and stay there until the kids went/graduated from college. Now, everyone is just staying put and the "upgrade" market has really fallen off.

My suggestion would be to find out what comps the appraisal company would be pulling. This is important because if you offer full price but the appraisal comes back lower you may have a financial problem. I don't think appraiser are still appraising high anymore. [/quote]

How do you find out this info.?  ordinarily don't you have to make an offer and then once you have a contract, they start the whole process of appraising etc.  If you want to find out what comps the appraiser is using how would you find this out beforehand?  Thanks.[/quote]

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