This home built in 2007 in North Fontana, California as well as a bank repo. The tenants took all a kitchen appliances(Combo ovens, stove cook-top, dishwasher, built in x-ray as well as window shutters. Would which dump a worth of a home? It’s labelled for $385,000 do we consider they will take $340,000 or is which as well low?
Related Post
This entry was posted
on Monday, June 6th, 2011 at 3:26 am and is filed under Building a Home.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
5 Responses to “HOW MUCH DOES THE VALUE OF A HOME DROP?”
Leave a Reply
XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
March 8th, 2010 at 2:17 pm
They would be stupid not to take that.. If I were you, I’d even offer less than that! Our house was brand new in sept 2006 and has dropped about $100,000 of value since then (about 10 miles from Fontana, in Mira Loma) and it is still in excellent condition. If I were you I would probably offer $315,000 then that leaves room for bargaining and settling on a happy medium.
March 9th, 2010 at 2:10 am
In California a foreclosed home will sell at auction on the courthouse steps.
Auctions being auctions, the bank will take what it can get.
Yes, of course the damage lowers the value. But in a foreclosure, the buyer assumes all liability, and home value is not as much consideration.
March 12th, 2010 at 2:43 am
The value of a home is based on what people are willing to pay in a particular real estate market. Obviously, a home without appliances is worth less than the same home with appliances. Right now is considered a buyer’s market because there are so many homes available for sale and many sellers will consider almost any price just to get rid of it. There is nothing wrong with offering low. The worst they can do is say no, then you can offer again a little higher.
March 13th, 2010 at 7:17 pm
Personally, I will drive a harder bargain for a property that has few of her important features / furniture missing. I live in the UK and over here, every little bit of furniture helps with the value of your asset.
Kitchens are expensive (or do I say relative to the buyers’ taste) and so are dishwasher etc. I will say you start your bidding at the higher end of $200K.
Good luck
March 14th, 2010 at 12:56 am
it depends on the actual value. If the house is in a million $$ neighborhood they may have priced to very low to get multi-bids which drives up the price.
Have you agent determine the actual value of the house as if it was in A1 shape. Then back out the cost of repairs, appliances, etc to bring it up to shape. THEN I would take 20% off the price as your first bid.
I would be happen if they only took 10% (plus the cost of repairs).
Also ask for closing in your opening bid.
However, understand that there may be other bids on the property.