Negotiating the sales price

[AEGee]

What is the name of your state? CA

Is there a rule of thumb regarding a valid offer versus the listing price? We are in San Diego and housing is extremely high. One RE broker told me asking about 5% lower is good. Another said just offer listing price.

Or would the average price per square foot (sold) be a good guideline?

Also, is there a good place to research what elements an appraiser would consider good value (i.e. location, view, appliances, etc.) - book or online information?

Thanks for your imput.

 

[HomeGuru]

What is the name of your state? CA

Is there a rule of thumb regarding a valid offer versus the listing price? We are in San Diego and housing is extremely high. One RE broker told me asking about 5% lower is good. Another said just offer listing price.

**A: there are numerous variables such as market conditions in your local area, if you really want the house and would pay more than market for it, market value, interest rates etc. When silicon valley real estate was hot due to the dot com buyers, 5% above list price would have been too little.
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Or would the average price per square foot (sold) be a good guideline?

**A: again you are generalizing. Go with market value based on comps because the list price may be high in whcih case a 5% lower price may still be way above market value.
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Also, is there a good place to research what elements an appraiser would consider good value (i.e. location, view, appliances, etc.) - book or online information?

Thanks for your imput.

**A: there are numerous appraisal and real estate websites available with this info. Books are also good.