What price to offer?

chancer_007

like a house I viewed some weeks ago
house was 490--460--now 445
EA told me it went sale agreed at low 400s but fell through
EA also said they are eager to sell
Am not sure what bid I should put in

1)start at 350 and then see what happens
2)put in a one time bid of 375,take it or leave it

I value the house at about 380/390k but in current climate I hope to get some value

Opinions appreciated(also dont buy,dont buy opinions are also appreciated)

SimpleSam06

chancer_007 wrote: »

Opinions appreciated(also dont buy,dont buy opinions are also appreciated)

With a username like that I'm not sure there would be much point! :pac: If you want an opinion so, don't buy. What period were those price drops over, the last year? Maybe if you wait another year it will be down in the low 300s?

chancer_007

was 390k may this year.

Shambo

What tprice would it have fetched in April/May 2007?

Take 35% off that.

EKRIUQ

Remember there is a price that the sellers just won't go below, so very low offers won't help, get a figure from the rock bottom price from EA (I'm sure he's just as eager to sell as well)and go in at €20,000 less.

FGR

What of a newly built semi detached house in Youghal, Co Cork going for 210k? Very nice development. Would it be worthwhile to offer 168k (80%) and see what happens..?

SimpleSam06

Namesco wrote: »

Remember there is a price that the sellers just won't go below

They'll take what the market gives them.

ForegoneReality wrote: »

What of a newly built semi detached house in Youghal, Co Cork going for 210k? Very nice development. Would it be worthwhile to offer 168k (80%) and see what happens..?

What are rents like in the same area?

chancer_007

rent is about €1200 a month in area

EA said they are keen to sell.

have another friend looking at house tomorrow.might get him to kick off the bidding

loyatemu

SimpleSam06 wrote: »

They'll take what the market gives them.

only if they have to sell. Plenty of houses around me still on the market at mid-2007 prices. Obviously they're not going to get those amounts, but clearly they're not under any pressure to sell either.

FGR

SimpleSam06 wrote: »

What are rents like in the same area?

All similar houses in the area would fetch about 700 a month.

SimpleSam06

ForegoneReality wrote: »

All similar houses in the area would fetch about 700 a month.

210k is far too much, 168k is still slightly overpriced. If you can get it down to 140k you're approaching good value, in my opinion.