Zillow Advice: Home Buying - Anyone familiar with Central CA market

sounds like a reasonable ...

Sat, 31 May 2008 16:44:00 GMT

sounds like a reasonable price for a home of that size and year in Central Coast CA no matter what prices end up doing, you may save a hundred bucks or so per month by waiting if some one else does not get it first.

Before you make a bid, get ...

Sat, 31 May 2008 08:59:00 GMT

Before you make a bid, get an appraiser to appraise the property. Make a list of all the negatives and problems of the home. Send the appraised papers and the list of problems in with your offer. The longer the bank holds onto the property the more expensive it becomes. Just make sure your offer is reasonable.

Hope this helps.

Yes, bank owned. Thanks ...

Fri, 30 May 2008 03:02:00 GMT

Yes, bank owned. Thanks for the response!

We are in no rush to buy so if they just ignore us maybe in a few months if the house is still there we can put in another offer, ha!

This is a bank owned home ...

Fri, 30 May 2008 02:28:00 GMT

This is a bank owned home correct? If so then you're realtor is most likely correct. Banks don't counter they just say no. Also the percentage off that you are considering offering is probably too high. Banks are sticky and unlikely to budge that much on the price even considering how long it has been listed. I tried coming in low on some bank owned properties..and it just didn't work. Grant that I am looking at a much higher demand area..but I don't think the attitude of a bank is going to change that much from house to house or town to town. They discount houses to what they think is going to move them fast...and it usually works. I'm not going to presume to tell you what to offer...but my experience echoes what your realtor is telling you.