OfflineOkay so I am wondering if this sounds like a fair deal?
I found a home through owners.com going for an asking price of $720,000. Its an 1800 Sq ft, 3 bedroom 3 bath home. Now here's the important numbers
Through using Totalview, I got these numbers
"Our Estimate": $646,835
Zestimate: $720,000
Value Range: $583,200 to $770,400
epprasisal.com: Mid Value: $593,371
Value Range: $504,365 to $682,376
Was last sold for $740,000
There's another home within the area with the same amount of bedrooms and baths going for $620,000 though its about 200 ft smaller than the one I listed above. One of my investors wants a 30-50% of the asking price for most homes. Given all the above would you consider this a good deal? Bad deal, average?
I'm new to this, and I want to make sure I'm at least on the right track. Thanks!
Together, we can be successful!
price range is every where in your area, I would stay away from homes priced over 350k for your first deal. Once you start getting into the higher price ranges it becomes very difficult to find buyers. Of course, if you have a list of buyers for these type of homes, go for it. You really need to get your Realtor to pull some comps for this house. How long has this house been on the market? If it has been 6 mos. or more, that right there is going to tell you a couple of things. One, the house could be over priced for the market or two, homes in this price range are just not moving yet. I live in a seasonal area that has some very wealthy real esate pockets. For over year and a half, luxury homes over $500k were not moving. Now that they have sat and people are seeing the good deals and they see where the market is going, people are starting to buy in the 500 to 750k range.
I don't have a Realtor yet, but I will keep this in mind.
Together, we can be successful!
Ok lets say that this house is worth 720,000 and your investor was looking for lets use 40% so that would be 720,000 minus 40% that will give you 432,000 then you need to minus any repairs lets say they are 10,000 so now your at 422,000 then you need to get your fee for your work lets say that is 5,000 that leaves you at 417,000 this would be your offer so as I see it No Good or put it in and see what happens. Also i would deffently get yourself hooked up with a realtor and run comps.
JaY C
Jay C
Okay I'll use this as an example.
I'm still learning, and with learning comes mistakes! I keep stumbling, but hey its only been like a few weeks since I took real action! I cant expect to not get through life without making mistakes right?
Thank you for a good example here, I will keep this definitely in mind.
Together, we can be successful!
post a ghost ad for these numbers, and see if you get any replies. Then you will know what price range the buyer has. You could even list a higher priced home for the 700,000 sale price and see what you get.
ah yes, the ghost ad. I have the one that Carol Stinson used. I'll try using that and beef up my arsenal so to speak haha. Thanks
Together, we can be successful!
I don't believe too much in negativity so I welcome your honesty! Yeah, I would not get an agent on an FSBO at all.
I'll check out those sites and compare it with TotalView and then go from there. Thanks!
Together, we can be successful!
Excellent, I will keep that in mind. I'm monitoring a home that goes on the auction block on the 22nd of this month.
Together, we can be successful!
Quote: ["If you're not ashamed of your offer you probably just paid too much."
-ancient RE proverb]
I'm lovin' it! I'm gonna keep that one in my pocket. Thanks, e!