^ Good for you to just walk away. If you do not need to move and the new place doesn't make sense from an investment standpoint, better to just let it go...

 

i'm right off boulevard on orchard street myself. if you're looking at new construction and the builder is Wojtach, walk away no matter what the price. There's lots of duplex triplex homes if that's another option. The borough is actually limiting any further multi family dwellings from being built going forward. The majority of single fams are 1980s and earlier. crime isn't too bad. mostly dwi's on rt 4 and rt 46, burglaries and property damage. I'm hoping this is the next north bergen/west newyork and property values develop in the next 5-8 years. hit me up with any questions

 

What do the comps say it's worth? Is your realtor presenting the offer?
Unfortunately you're both trying to get the best deal. If it's been on the market that long, they are probably content to just let it sit.
We waited a year before our place sold and we got what we wanted (and most importantly what it appraised for).

 

People are also pricing their homes more realistically now. My place was listed at $400K for a couple of months, then it went down to $395k, I offered $350, they countered with $390K, I said $365K is the highest I was willing to go based on a good market analysis and comps. I said I liked the house and I wanted to make it my home, but I want to pay what it worth. They countered at $380K...I said sorry. Then they lowered it to $389K....then $379K....then they called me about 2 months after my initial offer saying they'd take the $365K. It took a while for them to realize what their house was worth, but in the end, most people now price their place realistically not to waste time.

 

Well there is 2 other units for sale right now at that development.
One is $389 and is 1850 SF (is has a small basement which we do not want nor need) and it is in alot worte condition then the one we put a offer on.. Then there is one that is 3 bedrooms and 2.5 baths with a basement and is 2400SF and is priced at $489. The one we want is in alot better condition then the $389 one and they want $330 is their bottom and is 1600 SF..
The people that own it retired and are living down south (north or south carolina) so I don't think there in a hurry to sell. They are the original owners from 1988 and paid $180K for it I belive.. I LOVE the community, and this place that we want is on a dead end with the backyard backing up to all woods and has alot of extra paking right in front... The place we have now is brand new 1200 SF 2 bed , 2 bath.. no garage and is on the 3rd floor of a 4 floor building with 3 elevators.. The amenities are GREAT 2 pools 2 game rooms with pool table and poker tables and 2 GYMS.. but its like a hotel..
This place has a garage 2 beds and 2.5 baths and a great open layout with HIGH ceilings taxes are $7000 and $285 maintence fees.. It has a nice garage .. I is exactly what we want and about 10-15 minutes closer to both our jobs and 10-15 min from our place now and 5-10 minutes from the future in laws (which is good if we have kids so they can watch them)
She really wants a house but a house would be too much work for the 2 of us being we work many hours.. To tell you the truth I WANT this place but out of principle my girl refuses to go up to $330 but I want it..
I want a garage , I want my own front entrance, I want a deck with a BBQ and I want a back yard.... I dunno...

I hope they come to their senses and take our offer...
# places that are the exact same size as this place sold in the 4th quarted of 2009 and the cheapest one was $355 and the most expensive one was $365 so $330 is not a bad price but like I said we want to redo at least all the floors and paint before we even move in so that is going to be a few grand.. then in the next year we want to redo the kitchen and the 2 full baths.. THIS PLACE HAS POTENTIAL to be a really nice pad in a great mountain community in a great little city thats 30 min from manhatten...

 

Like I said we offered $305 and they came back with $335 and we said $315 so we said $320 is our final offer and they said $330 is the LOWEST they will go , they will not even split the difference with us and do $325....!!!!

 

The house that we where looking at was on Wasington AVE (off the boulavard) It was about 6 blocks from you going toward route 4 from 46...
My girl did not like the upstairs bedrooms the downstairs was GREAT but the upstairs looked like it was right out of a 1970's porno with the wood paneling everywhere...

 

I was getting picky about prices, but if you really like the place, the $5K difference is nothing really...like $5-10 a month tops. You spill that much at a bar.

I used this calculator and it works to the T.....
http://www.vlender.com/cgi-bin/calc/qualify.cgi

 

Exactly-- my broker mentioned that when we bought our house.
At the time, my wife was sure our purchase price was $8K too high.
The house is now worth more than twice that purchase price, so my wife now thinks we overpaid by $5K.

 

Make sure you include an appraisal contingency or that it states in the AOS that the LTV (Loan to value) not exceed 80% (assuming 20% DP)

Our strategy was to start by saying we were only putting 20% down and waiting until the appraisal came back. If it appraised low, we weren't using our DP to pay the difference. Turns out our home appraised for $10K more than the sales price. We then went back and told them we were putting more down.

 

Go back every 2 weeks with the same offer, you never know

When we were searching, we put an offer for 660, while it listed for 695. The agent said the owner was firm in wanting 680 cause he had a prospect at that price but it fell through (at the time of the big credit crunch). We luckily found something down the same block which was waaay better for a little more a month later. Roughly 6 months later, i noticed taht the original house we offered on had finally been sold, but for $645

After the interest from the open house dies down, i'm sure they will reconsider all offers again. At that time, the agent just might try to persuade the owner to take the lesser offer.

 

So if $5K is nothing, then logically $10K isn't much either... like $10-20 a month tops.

 

At today's rates, $10K should run you ~$50/month.

 

All I'm saying is that if you really Like the house....its "the one", $5K, even $10K shouldn't stop you IF you can afford it.

There are so many variables though...I got $6500 back (I will when I do my taxes next year)....interest rates....down payment and so on.

For me, if it meant eating Chipotle one less time then usual, or buying beer and have people over rather then going out every once and a while....it would be soooooooo worth it.

 

Yes you can look at it like 10k is $50 a month or you can look at it like 10k can probably pay for half the kitchen or all the floors to be redone and repaint the whole place..
My girl refuses to pay $330.. I dunno.. Hopefully we will find something better or they will get back to us and accept $320 or at least split the difference..
I did a lot of research on the community and looks like most of the people that live there are still the original owners so hopefully some will wanna get out soon and more houses of the same kind on the market means we can find one for $320 or the people will accept our offer if they see there are more choices on the market..
Your really can't get anything nice unless it's a condo for under $350 in this area any house that is that price range need like $50k work just to move in!!

Hopefully this works out..

 

I just put in silestone. It wasn't much cheaper than granite but requires very little care. Works for what I want.

Not a fan of concrete yet. Could grow on me.