Expert: Dick Dennis - 8/21/2011

Question
I am interested buying a house, listed for $209,000.00, on short sale. This same house was $219,000.00 a year ago. What should be my initial offer, I thinking $185,000.00.

Answer
There is no way I could venture a price for you on the house you're interested, Jose. First, I would have to inspect the property. Second, I would have to know what comparables there are. I caution you to not be too anxious to buy that house. It would seem to me your real estate agent should be familiar with the market in that area to advise you correctly.

I recommend you have your real estate agent assemble three or four comparables (houses that may be similar in location, construction, similar subdivision and recently closed escrow. That is part of that real estate agent's job. If he/she is not prepared to do that for you, I recommend you get another agent by consulting with that agent's office manager or broker and tell him/her why you want a more knowledgeable agent.

I am sure a more knowledgeable agent will be furnished to you. I do wish you well.

Dick Dennis
CA Real Estate Broker Lic. #00349415
dixiedee13@aol.com