For Ranjan

User Forum Topic
Submitted by SD Realtor on February 13, 2007 - 5:05pm

Ranjan -

You had a post in the 4S ranch thread regarding the Penasquitos home search you are doing.

"I am looking at some houses in 92129 zip code. ( Rancho PQ).
There is nothing unique about the properties I am looking at. Simple attached homes( 2-unit Condo), around 1700 sqft each and one of them has quite a large yard but not in great shape.
The area and community is very desirable and closer to my work. One of the houses in listed @499k and the other is @ 525k(one with bigger yard).

What should be a resonable offer to put in these cases?

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I apologize in advance for being vague but even RP activity has picked up recently. By your description it sounds to me like you are looking in Feather Ridge yeah? That development is composed of all twin homes. Your offer would depend on the exact listing you are looking at. If they have been on the market for a longer period of time then you can lowball them harder then if they have only been on the market for a short spell. Also knowing when thier last price reduction was is a good piece of knowledge, and seeing if they have listed before and expired/cancelled is helpful. These data points help with a strategy. In the absence of them you can still come in low to measure the response. Come in 5-10% under asking price and see what they say. Maybe they counter, maybe not.