Falmouth, Mashpee, Bourne and Sandwich Real Estate and Home Sales Information
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Nancy Clayton

$215,000 below asking

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This entry was posted on 11/9/2006 8:42 PM and is filed under uncategorized.

Hello Folks,

Someone recently made a great buy for themselves.  They bought a home in Falmouth that had been listed for $875,000 and it sold for $660,000.  If I were a buyer planning on buying a home to use for a sceond home or potential retirement, the time is here. Maybe it won't work on every home, but that person that stepped forward to make an offer won!  Remember all the competition and over asking  price bidding wars with all the buyers in the market during the last few years,?  Well you can shop until you drop and won't have to compete with others, and look at all the inventory you have to choose from.  This time of the year between the holidays is perfect, it lets the sellers know you are really serious.


Think about it, Cheers!

Nancy

 

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    • 9/29/2007 12:39 PM Dick Kates wrote:
      Thanks for posting about the house that sold for 25% or so below asking price. My question is, and what do you think, what was the appraised value? If the appraised value and the sales price pretty much match up, then the original asking price was invalid as to the market.
      What do you think?
      Reply to this
      1. 10/1/2007 5:51 PM Nancy Clayton wrote:
        Hi Dick,

        Do mean appraised value or town assessed value?  Maybe another example will help.  I personally have  a listing in Falmouth that I have had on the market for over a year.  There were not enough sales to give a real determined  original list price.  I told the seller, lets price it at the towns assessed value of $495,000.  I have not received any offers and yet the seller over the course of a year has reduced the property down to $429,000.  The seller recently excepted and offer of $370,000.  I expect the appraisal as usual will not come in too much higher.  The bank only has concern that the value is at least the asking price and the appraisers  always have a copy of the Purchase and Sales Agreement to know the price..  Truth is that  the towns will have to drop the assessed values and increase taxes to make ends meet.

        Hope that helps you, let me know.

        Warmly,

        Nancy Clayton
        Reply to this
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