Buying a house, how much off the asking price?
Also for those looking to buy, how much would you bid?
Mar 5th, 2009 10:44 pm
Mar 5th, 2009 10:57 pm
Mar 5th, 2009 11:18 pm
Mar 5th, 2009 11:25 pm
Mar 6th, 2009 8:27 am
Mar 6th, 2009 8:48 am
Mar 6th, 2009 8:51 am
Mar 6th, 2009 9:07 am
Thats understandable. People who would normally have purchased say a 250-400k home (i.e. your average home-buyer), are more willing to stretch their budgets when times are good. As a result, these consumers buy homes approaching the upper-mid end of the market (500 -700 K). When times are bad, the average home-buyers are no longer looking at the 500-700 K range, demand drops and so do prices.xstatik wrote: ↑Mar 6th, 2009 8:51 amOne more thing. I've noticed that homes in the higher price range $500K + seem to be getting hit a bit more than homes under that price, which in some cases are still getting multiple offers and selling for prices similar to last year.
Thus, more negotiating room in the higher end of the market.
Mar 6th, 2009 9:13 am
Mar 6th, 2009 9:14 am
Mar 6th, 2009 9:23 am
I agree with this completely. I've never paid closer than 15%. That includes during boom times. It's not a process that should be rushed (unless necessary) there are always houses on the market. There are always people who need to make a deal.
Mar 6th, 2009 9:29 am
Mar 6th, 2009 9:36 am
if i listed my house at 500k and you offered me 400k, i wouldn't know whether to laugh, or be pissed.
Mar 6th, 2009 9:37 am
sounds about right, providing they're listed at what they're worth, and not some wackjob priceRehan wrote: ↑Mar 6th, 2009 9:14 amThe latest stats for Toronto show that on average homes are selling for about 96% of the list price.
http://www.torontorealestateboard.com/c ... mw0902.pdf
Mar 6th, 2009 10:06 am
But if your home has been on the market for over 100 days, you might even consider that offer..