Maybe a real estate agent or someone who recently purchased a home can help me out here. Say for example a home is listed for $80,000, how much is that home actually going to sell for. I guess what I'm asking is, what is the actual selling prices in relation to their list price?
2007-12-04 12:31:13 · 4 answers · asked by Jason 1 in Business & Finance ➔ Renting & Real Estate
A real estate agent can give you guidance for your area, but the areas I have lived in and when I have bought and sold my homes the ratio of the sales to list price is generally over 95% when the house is priced correctly. If the house is overpriced it will likely languish on the market and the seller will have to lower the price until it is priced right.
If a home is priced right at $80,000, I would guess the eventual sales price would be close to $75,000.
If the house is underpriced at $80,000 it might go for the full $80,000 or even a little more.
If the house is overpriced at $80,000 it could eventually sell for quite a bit less.
good luck!
2007-12-04 15:44:02 · answer #1 · answered by Rush is a band 7 · 0⤊ 0⤋
The selling price -- which can go higher or lower than the list price -- depends on a lot of factors:
- location
- condition of the house
- curb appeal
- features of the house
- real estate market in the area
- aggressiveness of the real estate agent
- other factors
Without knowing the location and not seeing the home, no one can tell you how much is a home going to sell for.
It's a buyers market now, so sellers are either having a tough time selling with their homes in the market for several months. Or they need to lower their prices because they are simply not getting any offers.
I bought a house this year, and it was $60,000 below the listing price -- which was already lowered twice.
2007-12-04 12:48:54 · answer #2 · answered by imisidro 7 · 0⤊ 0⤋
Completely depends on the property, the seller, the listing agent and the housing market in that area. Some homes actually get offers above their asking price because they are undervalued and recieve multiple offers.
Houses arent like cars where you might find a standard dealer mark up or MSRP.
2007-12-04 13:05:41 · answer #3 · answered by SNCK 3 · 0⤊ 0⤋
What a house will sell for compared to the liist price varies all over the place.
The seller is the one who sets the asking price. The seller is not the most objective person to set the price.
If you want to know what the fair market value of an individual house is you need to hire a competent appraiser to appraise the house to determine the fair market value of the house.
2007-12-04 12:46:42 · answer #4 · answered by Anonymous · 0⤊ 0⤋