What Would Be A Reasonable Offer To Make On This House?


What Would Be A Reasonable Offer To Make On This House?
By Scott Rogers • June 18, 2021
Some clients asked me this question a few weeks ago... What Would Be A Reasonable Offer To Make On This House? ...and we had a good laugh after we started thinking and talking about it. As I told them: Reasonable offers don't buy houses in this market!? Indeed, it's that kind of market these days. It used to be that we'd look at what other buyers recently paid and then extrapolate from there as to what would be a reasonable offer to make on a house. If similar houses recently sold for $265K and $270K and $275K -- it would be reasonable to pay between $270K and $280K for that newly listed house down the street, right? Ha ha. Maybe in some long forgotten time when the market felt more normal or balanced or sane. These days... If other buyers recently paid $265K and $270K and $275K for similar houses, a seller wouldn't be surprised to receive offers with escalation clauses going up to $290K or $300K or even $310K. As such, we need to think about your offer price not only within the context of what other buyers recently paid for similar houses. Is it reasonable to pay 5% to 10% more than other recent buyers have paid for similar houses? Maybe... maybe not... But it's likely the only way you'll be able to actually secure a contract on a house! Receive Updates by Email Recent Articles: Is There A Price You WOULD Pay For This House? There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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