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/u/VandyBaby
Guest
On the hunt for my first home and was recommended to an agent through a family friend. After looking them up online and having a few conversations I was feeling pretty confident. As we started to look at houses they kept reiterating how every house I liked was going to sell 40-50k over asking price. Just constant comments about how the market is crazy and the areas are super competitive and yeah I get that but I was starting to become a little speculative. We saw a house today that I really liked. It's a flat ranch that is clean and livable but not recently renovated or super modern. It is listed for 299,900 and I wanted to offer 320,000 with little contingencies. They told me that offer wouldn't even be considered. Now the thing is, I could go higher than that and still be in my range but I am not going to unless I feel it is justified. So I went home and began to educate myself further and decided to build a spreadsheet for comps in the area. I looked at every 3bd1ba house that sold in the same town in the last 6 months within a certain price range. What I found is that there is nothing in the data supporting what she is saying. Yes, this house could potentially get an offer for 40-50k over asking by someone with a lot of extra cash who falls in love with it but it is definitely not the norm in this area.
In my spreadsheet, I included the list price & sale price along with price per square ft and how close of a match visually it is including the lot size. Basically the average lp/sp is right around +10k and the average price per sq ft is 221. At asking price this house would be 272 per sq ft and if I go 20k over were looking at 290 per sq ft.
Just bothers me that they are telling me an offer of around 60 per sq ft above average with little contingencies wouldn't even get considered.
Here is the spreadsheet if anyone is interested:
https://docs.google.com/spreadsheets/d/1JTVsl7SI717vXNT1x_AXXrSokL2lRmNU78WUrgkgLYw/edit?usp=sharing
submitted by /u/VandyBaby
[link] [comments]
Am I smarter than my agent or just too untrustworthy?
Continue reading...
In my spreadsheet, I included the list price & sale price along with price per square ft and how close of a match visually it is including the lot size. Basically the average lp/sp is right around +10k and the average price per sq ft is 221. At asking price this house would be 272 per sq ft and if I go 20k over were looking at 290 per sq ft.
Just bothers me that they are telling me an offer of around 60 per sq ft above average with little contingencies wouldn't even get considered.
Here is the spreadsheet if anyone is interested:
https://docs.google.com/spreadsheets/d/1JTVsl7SI717vXNT1x_AXXrSokL2lRmNU78WUrgkgLYw/edit?usp=sharing
submitted by /u/VandyBaby
[link] [comments]
Am I smarter than my agent or just too untrustworthy?
Continue reading...