Profile picture for v.signorelli

Offer price vs listing price ?

Does the sale price and the price one may offer only vary depending on the competition of other investors ?
  • October 26 2011 - West Palm Beach
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Answers (8)

Profile picture for Bob Wert
In short, yes!  In the old days, say at the peak of the market in 2007, competition for a home may have seen multiple buyers and offers.

Than, offering the asking price or higher may have been suggested if the buyer wanted a chance to have their offer accepted. 

Although in today's market, in most areas, multiple offers on the same home are not as common. 

Ask your agent to inquire before making any offer!
  • November 16 2011
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These days listing price, offer price and sale price are completely different things. Unfortunately, there arent that many competitors for real estate anymore, so usually offer price is a price that buyers are comfortable with, and is  true to the market value.
The easiest way to check it is to do CMA which is the analisys on what has been sold, expired, pending, and active  in the area that has similar features to the house you want to buy.
  • November 14 2011
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I am not sure what you are referring to here, because I am not aware the multiple offers of other investors are ever revealed no matter what kind of sale it is.   A Comparative Market Analysis of other homes sold should show the percent of listed price vs.sold price.  This percent would be another gauge to use in determining your offer,
  • November 13 2011
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No. You can offer $100 with 35 other investors bidding, and the sale price will remain at $225,000. And you can still make the same offer with less investors and it won't matter.

Good agents list their homes near market value. Some good agents have terrible cantankerous sellers who are convinced their home is worth more, and list too high. (yeah, all you realtor bashers thought it was the greedy realtor...well take it from the realtor who loves to bash his own chosen profession: It's normally the sellers! They were the greedy ones during this whole fiasco. It's the untold story. Just not very popular to tell.)

It's not rocket science. It's not even 4th grade science. Or 3rd grade math. But it does take access to the most accurate information available and Realtors have better access to that than anyone. It's why the Realtor brand still exists.

If you see four 2001 Nissan Altimas on Craigslist for prices ranging from $6,000-$8,000, and somebody wants $12,000, what would you offer?
Oh, check the miles, condition and so forth, and then adjust accordingly. The final dollars will come down to how willing you are to walk away from it. Could be a lesson for those 3rd grade math students.

Good luck Signorelli.
  • November 10 2011
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Profile picture for TedFriedmanRI

An offer can be any amount, but it is typically based on what has sold in the area that is comparable.  For example, if a 4 bedroom, 2 bath Colonial in a particular area in on the market for $400,000 and there are 6 comparable homes in the area that have sold for $300,000 within a short period of time, that tells me that the house is overpriced for that market.  My suggestion to a buyer would be to make an offer close to what has sold. 

  • October 26 2011
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Profile picture for craigfial
Every property is different and the offer will be based on similar properties.  It's best to use a buyers agent to help you determine the best offer.  If you are one of the cash buyer investors, you probably are aware of the high number of bidders on good properties.  The REO agent will never disclose the offers, so you always want to make your highest and best. 

Craig Fialkowski GRI,CDPE
  • October 26 2011
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Profile picture for kapyarets
I would say "Yes". Prices are driven by supply and demand. Comparable Market Analyses from buyer's agent will help you to understand where is a market and where is the asking price came from. For investors numbers should work as well. 
  • October 26 2011
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Profile picture for Matt Hiatt
That is where you need a good agent that really knows the market. Here in Phoenix, if a home is decent, we are getting multiple offers on property. I would not advise my clients to low ball a price if they really want the home, but I don't want them to over pay either. The market conditions here are driven some by investors, but also low inventory and people buying to live in the home.
  • October 26 2011
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