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June 19, 2009
Canarsie Home Price Offer?
The home I just made a post about is about 1500 SF. Two family. The rental brings in 950 a month. The house is listed at 485k. I noticed though that the house right next door sold last month for 300k (a foreclosure). Zillow gave it a price range of 400-500k. I wanted to know what you guys think of leveraging the fact the house next door sold for 300k. What would be a fair offer? I also know the house has been on the market for about 2 months.
Comments
Who is Zillow? Offer 300,000. What have you got to lose besides that house? There will be plenty of other forclosures to come. You have a sentimental reason for offering more? Don't worry you are not going to miss the housing bottom, we just started going to market bottom. Homes in the NYC area have a long way to go on the downside in pricing.
Posted by: hannible at June 20, 2009 6:33 AM
You want it? Make a lowball offer and go from there. I'd be curious to know what the asking price was on that $300k place next door. I bet it was $450k.
Paying sticker price today, especially on a foreclosure is insane.
Posted by: Donbeno at June 20, 2009 10:42 AM
The actual home for sale is not a foreclosure (fyi). Zillow is a website that provides you with home information, e.g., last sale date, taxes, value, etc.
Im going to drive around Canarsie today to see some more homes! woot :)
Posted by: guikazoid at June 20, 2009 10:43 AM
canarsie is a buyers' market.
Posted by: slick at June 21, 2009 12:57 AM
$300,000 may just be the amount owned on the first lien. If the buyer is a bank or lender type, it is just the loan amount owned, not necessarily the market value.
Posted by: Springs at June 21, 2009 1:39 AM
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