Would you (or have you) ever lowball on a home offer?

[heb1976]

Hi TGal, I didn''t realize the prices in So Cal were still that inflated!

House hunting is such an emotionally draining and exhaustive process. We purchased a new home last August from the builder. The asking price was $425 and it had just been dropped from $450. The orig listing price was $480 and it had been on the market for about 9 months. Our first low ball offer was $365 and we countered back and forth until we agreed on $400. I had no problems with low balling a builder but I probably wouldn''t a previous owner. Builders have so much credit tied up in this market that they really seem willing to negotiate. Do you have a lot of new construction in your area? New may be a good way to go to get a better deal. Good luck with finding your perfect home!

 

[TravelingGal]

heb, I agree...I would have no problems lowballing a builder or a bank. The emotional aspect is out of it by that point.

Kimberly, thanks. That is very sweet of you to say. If we never become homeowners, that is fine..we will find a house to rent or just stay in this apartment and make do. My parents raised me and my bro for some time in an apartment smaller than this one. We loved sharing a room back at that age. We need to buy what we can afford, and if we can''t afford it, we''ll save the money for a time in the future when we can.

But you''re right, it''s been a tough time for many. From a buyer''s perspective, I really do think prices need to come down more, so we can all get on with it. But I understand that is certainly not a seller''s/owner''s perspective for the most part!