Here are some more questions I get asked regularly…
1) How much under do you think we can offer?
While this varies, it’s usually asking price to start or over asking. I always do two things for the client:
– Show the client a market analysis to show them the price point and what other homes in the area are going for.
– I always call or contact the listing agent first to see if there are any offers and if so, how many.
These two things will determine the price range in which we will make our offer.
2) How long are properties sitting on the market?
On the lower end (meaning $100K and under OR on multi-family dwellings, whatever will pencil out), properties usually go within one week or less. If they do not move quickly, then the property is over-priced or compromised somehow (i.e., location, amount of work needed, etc.).
