How One Couple Found a Home and Made an OfferPosted by at December 26, 2017 in Home
With a preapproval letter for $330,000 in hand, Russ and Linda scheduled a meeting with their agent to start the house-hunting process. Their agent used the MLS to print a list of twenty-seven homes in areas of interest priced between $320,000 and $360,000.
Because the housing market was slow, they felt it was reasonable to believe they would be able to discount up to $30,000 off the list price of a home. Going over the list with their agent, they quickly eliminated sixteen homes.
They crossed off those on busy streets, those that had not been remodeled, or those whose styles Russ and Linda simply didn’t care for. This left eleven homes to be personally inspected over the following two days.
As it turned out, five of the eleven were disappointing. Number eight was a possibility, but it was the ninth home on the list that clicked. Priced on the high side at $356,900, it had everything they wanted, even the colors they loved. After hurrying through the other two homes on the list, they confirmed that their choice was the well-maintained multi-level on the cul-de-sac.
Russ and Linda’s agent, Andrea, swung into action and looked at what other homes had sold for in the area. She noticed that the average listing in the neighborhood sold for 94 percent of list, that the days-on-market averaged eightyseven, and that this home had been on the market for ninety-eight days.