Not sure if you’ll actually get around to scrolling back and reading this, but fwiw, I would check what they originally paid for the property when they bought it. If it was bought recently, I doubt very much you will have any luck getting them to accept an offer lower than their purchase price.

Someone who bought a long time ago, and hasn’t heloced or cash out refinanced the house to the hilt will have more room to be flexible in the price.

You are doing them a favor when you make a reasonable offer on their home, because even if they don’t accept it, they might wake up and smell the coffee.

For what it’s worth, 2005 was the height of the boom market, you might want to go back to 2003 if you want to be cautious, but a house you can afford should be your only concern.

FYI, there is one long discussion thread here every day, and asking a question there should generate plenty of responses.

And for the record i think they’re worth less than that.

We are so shocked at the stuff that we are seeing and the prices. Splits and ranches that are 600K! And are old, not in good shape, damp basements. And don’t get me started and how some people don’t even clean their houses to show them.

We have seen a few that are ok so all is not lost, but here is my question.

What is a reasonable offer these days? On one, the original list price was 610K, and I found a comp from 2005 that was 450K. I’m thinking that the 2005 price is where the current market should be and an offer of 450-475 is reasonable?

How do you submit an offer like this without insulting the sellers? I know that we just have to be ready to walk if they don’t like it but other than that, any tips?

Or am I totally crazy to think we can get them to come down that far. The thing is, I am honestly not trying to cheat anyone. It’s just that from my research, that’s what I believe these houses are worth.

Thanks for reading, any advice much appreciated! Ann