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Buying a House

Workdawg

Workdawg

NARWHAL
LASERBLUE135 said:
Zillow is easily 20% too high on many place right now, so be carefull there, I just had the city inspector at my house at 7:25am this morning and they are recalculating the taxes in all areas too.

$175,000 "sounds" right. Doesn't it, but prices are STILL falling. If you really think that that place is the one. I'd start negotiating at $20,000 less. You CAN NOT GO TOO LOW in this market. There is "blood in the streets", you have all the control. Make the most of a great opportunity.
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I'm not afraid to toss them a low offer, and I intend to do so. I was looking through the "recently sold" stuff on zillow, and it does seem to indicate 175 is a bit high, but that is too be expected. I'm sure the seller realizes they won't get asking price for it. I guess I've failed to make the distinction between my considerations of asking price, and the price we'd pay. For purely comparison purposes, it's easier to just look at the asking price when comparing places we've looked at... when we are narrowing down the choices, then we can start to consider what kind of price we'd end up actually paying.

Also, here is a listing with a few more pictures of it... still no pics of the master bath or closet, but it's got different angles and some other pics. If you click on the top 'pic' that shows a blue house image with arrows around it it opens up a flash-based "virtual tour".
http://tinyurl.com/homeshouse


Edit:

LASERBLUE135 said:
also from zillow: Recently sold...
8061 Stratford Cir S # 1204 Shakopee MN 55379

3 beds, 2.5 baths Recently Sold: $153,075 Probably almost exactly like yours
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It looks like that one is one of the units that is back-to-back with more townhomes in the middle of the complex. Also, zillow has it listed at only 806 sqft... Don't know if that is right, it could be the foundation is only 806, but even then, the one we are looking at has 900 sqft foundation IIRC.
 
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L

LASERBLUE135

Active Member
ZoomZoom Diva said:
Laser, I would also say your utilities are overstated.
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my heat (on the budget plan) was $144 2 years ago when natural gas spiked, it was down to $68 just this last year, and now it spiked back again to $132. $30 for electric is standard, and water, trash, and other items are included in the association dues most likely. I was just pointing out that a monthly "payment" can be a lot of money and to look at the full cost of each home. I like to overstate a smidge, then when it's cheaper...that's cool.
 
L

LASERBLUE135

Active Member
Workdawg said:
It looks like that one is one of the units that is back-to-back with more townhomes in the middle of the complex. Also, zillow has it listed at only 806 sqft... Don't know if that is right, it could be the foundation is only 806, but even then, the one we are looking at has 900 sqft foundation IIRC.
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Zillow is not accurate, has our house as a 3 bed/1 bath, and its a 2 bed/2 bath. I'm sure that sq ft is very similar to yours. And I'd be pointing out that sale price when/if you make your lowball offer. It will give your offer leverage. like "your nieghbor's exact place sold for $153,000. So my offer of $155,000 is very fair".
 
Workdawg

Workdawg

NARWHAL
I googled up some info on the house you are referring to, it looks like it was sold "pre-forclosure" which I'm sure skews the actual value. I will be sure to bring up the selling price though, they might now know this. One thing I've found though is that there appears to be multiple floorplans (which makes sense) in this complex. 8080 Stratford Cir is also for sale (for 180), and based on the pictures it looks like the floorplan is quite different.
 
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LASERBLUE135

Active Member
I'm not saying that they should jump at $155,000. And I'm not saying that it wouldn't be "stealing" this place for $155k either. All I'm telling you is that you can get a really nice place for 150k (that you will really like) if you are patient.

This palce sold for $169 over 5 year ago! It's crazy to imagine it selling for less than that today, but that's the reality of the market in that area.

If there are 72 plus homes in the area that have 1500+ sq ft, 2 bed/2 baths, how many have you looked at? I don't want to be a preacher or tell you what to do, but I was in your shoes 3 years ago and I know what its like.


...and if you aren't "married" to that area, there must be nearly 1000 metro homes in your shopping bracket. take your time, have fun, and get a great place:)!
 
Z

ZoomZoom Diva

New Member
There are three floor plans in your building. The end units have a 3BR upper level unit and a small 2 BR lower level unit. The middle units are two level and like yours. The 8080 house is an upper level end unit (my friends owned one of these, and they're nice.)

The heat/gas bill seems high to me. I've never had a single monthly bill that high, much less a budget plan payment (I don't use it, but they have offered me one of $45 or something like that). My highest bill in the 5 years I've lived in my house was $110. The electric is a little higher than I pay, but not too out there when averaged. My water bill is quite a bit less ($20 a month). I average under $100 for gas/electric/water combined. I agree that one should consider the total cost of ownership, and one should be reasonably conservative, but to not go too overstated either.
 
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Workdawg

Workdawg

NARWHAL
ZoomZoom Diva said:
There are three floor plans in your building. The end units have a 3BR upper level unit and a small 2 BR lower level unit. The middle units are two level and like yours. The 8080 house is an upper level end unit (my friends owned one of these, and they're nice.)
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That explains why it looked like the kitchen was on the upper level of the place (slanted down ceiling).
 
Workdawg

Workdawg

NARWHAL
I just realized we got off track a lot there... lol. I'm not complaining, always happy to hear people opinions and experiences.

Any tips for things to look for and consider when we go back tonight? Maybe there really aren't any, but I'm sure you guys can come up with something.
 
Z

ZoomZoom Diva

New Member
Consider the difference between what is easy an inexpensive to change, and what cannot be changed or is very expensive. Paint, cleaning, and a plumbing orlight fixture here and there... cheap and easy. Flooring, appliances, actual damage repair... more costly and not so easy. However, something you like that's out there in decor may be a bargaining point.

Also ask if there are any custom options that make the home different from others in the development.
 
YSOSLO

YSOSLO

is the word, beotch
Dan if you're concerned about utility costs with your prospective new place(s) your realtor can get the last 12 months history for you from the utility companies themselves (you can't, but the realtor can), but they won't do it for 30 houses or anything...I'm just talking about once you have things narrowed down to 2 or 3. Many times the homeowner will also have that information on hand if you ask.

I hope all of the numbers being thrown out by others in this thread for utility costs are for similar square footage and ballpark-same-timeframe for contruction, because a 20 yr old home won't be as efficient as a newer home and size and layout effect heating costs as well. I'm sure you can see how those high lofted ceilings can keep the heat from being felt quite as well as an 8 foot ceiling. Things like a ceiling fan will help with this example too.
 
Workdawg

Workdawg

NARWHAL
Great comments guys. We'll be taking a closer look at what things we like/dislike about it specifically tonight... last time was more of a floorplan/overall appeal. I'll pay attention to fixtures and stuff like that. I'll see if I can find out about any custom options.

Pete: I didn't know a realtor could pull that info, I'll ask him to, thanks!
 
YSOSLO

YSOSLO

is the word, beotch
Like I said though, they won't do it for LOTS of properties, but if you're serious about a couple, they can track it down for you.
 
Workdawg

Workdawg

NARWHAL
Update:

Well, Jenny and I met with out agent again last night and filled out the paper work to make an offer on the place. We offered slightly under asking price, and with seller to put up 6% towards closing costs and down payment. 6% should cover all out-of-pocket expenses except for the earnest money check we gave our agent last night.

Thanks for all the advice and help, hopefully we'll get some good news soon.
 
L

LASERBLUE135

Active Member
Workdawg said:
Update:

Well, Jenny and I met with out agent again last night and filled out the paper work to make an offer on the place. We offered slightly under asking price, and with seller to put up 6% towards closing costs and down payment. 6% should cover all out-of-pocket expenses except for the earnest money check we gave our agent last night.

Thanks for all the advice and help, hopefully we'll get some good news soon.
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exactly what we did, worked out great. Good luck!
 
M

mazdamn02

Guest
Looks nice, I'm guessing it is not subject to bank approval?
 
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