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Is this house overpriced?

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Back in 2004 this house was purchased for $125,000. Now it's on the market for $175,000. It has had some renovations and cosmetic updates but far from total renovation. I have a feeling that it's overpriced considering the bust of the bubble and it's been on the market since September 2008. Thoughts?

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February 17 - Wilmington

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sunnyview
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sunnyview

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I don't know the market in DE, but I would look at the historical prices available on the Zillow chart page to see if they are even close. Some folks highly value remodeling that they do, but that does not often translate to a dollar for dollar increase in value on the resale market. I would be careful, ask a local agent for a CMA and make sure to look at all available comps to make sure that you are paying a fair price in today's market.

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Question buying a house for mother

Question How do I find single homes for sale in the Linden Hill, Skyline Middle schools district?

Question Is this house overpriced?

Question I am a first time home buyer. What is a good starting point for a first offer?

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Guide List of Closing Costs and Fees

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Question buying a house for mother

Question How do I find single homes for sale in the Linden Hill, Skyline Middle schools district?

Question Is this house overpriced?

Question I am a first time home buyer. What is a good starting point for a first offer?

Related Articles about Buying Process

Guide Real Estate Buyer's Closing Costs

Guide List of Closing Costs and Fees

Guide You've Opened Escrow

Guide Home Buying One Step at a Time

Guide A Buyer's Guide to Making the Right Choice

Need a Mortgage?

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