Zillow Advice: Home Buying - we are looking at buying a house that is listed at $256K. Is offering 190K too low? http://www.zillow.com/advice-thread/we-are-looking-at-buying-a-house-that-is-listed-at-256K-Is-offering-190K-too-low/266987/ Zillow Advice | Zillow Real Estate I wanted to somehow believe ... http://www.zillow.com/advice-thread/we-are-looking-at-buying-a-house-that-is-listed-at-256K-Is-offering-190K-too-low/266987/ I wanted to somehow believe that <a href="http://www.zillow.com/local-info/">property values</a> in Traverse City might've bucked the nationwide trend and had seen upward values since 2004.<br/><br/>According to one article I read there's been a 350 percent increase in <a href="http://www.zillow.com/homes/for_sale/fore_lt/">foreclosures</a> in Grand Traverse County. Michigan ranks 6th in foreclosures.<br/><br/>So...um....no.<br/><br/>It's possible that the home value increased in 2005-06 and they snatched the equity out so that they actually owe more than 219k (hence the high list price) <br/><br/>Give the lower offer a try...but don't hold your breath. Wed, 12 Aug 2009 00:18:00 GMT http://www.zillow.com/advice-thread/we-are-looking-at-buying-a-house-that-is-listed-at-256K-Is-offering-190K-too-low/266987/ 2009-08-12T00:18:00Z The assessments tend to be ... http://www.zillow.com/advice-thread/we-are-looking-at-buying-a-house-that-is-listed-at-256K-Is-offering-190K-too-low/266987/ The assessments tend to be lower than actual market value. However the market has gone down dramatically since 2004. Just because they paid more than the offer is irrelevant......however if significant improvements were made the <a href="http://www.zillow.com/local-info/">homes value</a> may have increased since 2004. Put in the offer and see how the sellers' react. It doesn't hurt to start low. Tue, 11 Aug 2009 22:57:00 GMT http://www.zillow.com/advice-thread/we-are-looking-at-buying-a-house-that-is-listed-at-256K-Is-offering-190K-too-low/266987/ 2009-08-11T22:57:00Z Only the buyer (and their ... http://www.zillow.com/advice-thread/we-are-looking-at-buying-a-house-that-is-listed-at-256K-Is-offering-190K-too-low/266987/ Only the buyer (and their situation) will know. but it NEVER hurts to throw down an offer.<br/><br/>Good luck<br/>Bryan Tue, 11 Aug 2009 22:48:00 GMT http://www.zillow.com/advice-thread/we-are-looking-at-buying-a-house-that-is-listed-at-256K-Is-offering-190K-too-low/266987/ 2009-08-11T22:48:00Z