What Price should I offer?

**mbkowns** · 05-05-2008, 08:59 AM

They are asking 159k for property TWO and it is not a short sale. This is a bank owned REO. So the last sale price is where the bank bought it back.

I made an offer of 165k how do you think this stands?

Another house in the same city different areas sold like this

Property ONE list price 179k I offered 190k they took 250k. Last buyer before banked owned 255k.

Property TWO list 159k I offered 165k who knows yet. Last buyer before banked owned 166k.

Property TWO Information
Beds:
3
Baths:
1
Year built:
1957
Sqft:
1,117
Lot Size:
7,405

Sales History

Historical home sale price (1):
$212,500
Prior sale date:
Mar 7, 2008
Change since this sale (1):
NA

Historical home sale price (2):
$166,000
Prior sale date:
May 10, 2002
Change since this sale (2):
+28%

Historical home sale price (3):
$87,000
Prior sale date:
Apr 15, 1997

Property ONE Information
Apt Number:

Beds:
3
Baths:
1
Year built:
1957
Sqft:
1,573
Lot Size:
10,454

Sales History

Historical home sale price (1):
$500,000
Prior sale date:
Feb 11, 2008
Change since this sale (1):
NA

Historical home sale price (2):
$255,285
Prior sale date:
Dec 6, 2007
Change since this sale (2):
+96%

Historical home sale price (3):
$111,732
Prior sale date:
Nov 3, 1997
Change since this sale (3):
+347%

**jron** · 05-05-2008, 11:59 PM

Actually a lot of it depends on what type of home are you offering to, but for your offer of 165K I think it is fair and you have a good chance at it. Here in Miami we have a lot of properties like that close to that price range as well.