Thread: Question on a house for sale

Personal : I just finished RE Class but have yet to get my Lic or work for a RE business. I have owned my own Apt Buildings in the past (11) so I am not "New" to the Biz. I am not in a position to buy a house and honestly I would rather rent and find out if it is something I want to stay at.


The house : In my town (in Massachusetts) that is for sale. Price has dropped from $38k9 (6/2011) to $339k(now). 1965 Split level. NOTHING has been updated ! Not the electric, bath, stove, wall oven (how outdated are those !), well maybe the fridge is- about 10 years old, but that is it. Even the carpets/wall paper are original.

Comps for houses (updated) on the same street same kind of house sold at $345k last summer and $375k (after being on the market for a year). Both updated everything.

I have figured out that it would be about $150k just to do updates and that is NOTHING fancy.
The market here is just not moving very fast.

I also think that the owner (age 81 and moved out at least before the listing started as the house is vacant) is an X-Broker.
Wouldn't she KNOW that her house is not worth the price she is asking with out ANY updates ?

I have e-mailed the Agent 3 times to get info and no response..... Is that normal ? I mean if you are not getting ANY leads on this house, wouldn't you at least TRY and e-mail me back ? I KNOW that I didn't leave my number (on purpose) but I asked if he would be having an open house or something. He couldn't be ALL THAT busy, as he only has 3 houses under him.

I know I should just call and bite the bullet to get a showing but I am not interested in buying as this time. I just wanted a little more info (water issues and updates were my questions to him).


So what do you think about this scenario ?