So as the result of my wife getting loaded at our son's baseball game a couple weeks back while sitting next to a realtor I may be putting an offer in on a house in a few days. The house in question is being listed for just a bit under $400k but it was originally listed for $470k and that was just shy of 700 days ago so it's been sitting on the market a while. The zillow estimate is $382k but it's been a while since we bought our last house and I'm wondering what the rule thumb is if there even is one for making an offer on a house these days.
1) Zillow is typically inaccurate with those 'estimates'
2) Nat'l average for a listing has been around 65 days, so 700 days is absurd
3) If you make an offer, order a separate
home inspection
4) In that price range, buyers expect stainless steel appliances; granite/quartz counters everywhere
5) Don't let the realtor create a lot of unnecessary 'drama' masking what little they do these days for a commission$
6) Initial listing that is over-priced by a realtor, then reduced a couple times--is the death knell for the seller. A red flag goes up with the internet buyers. The original price usually is maxed-out to cover their obnoxious commission.
7) 95% of buyers search Zillow and Trulia, Realtor.com-- for a home. The "MLS" is antiquated, useless, and has been replaced years ago by the internet. Don't let a realtor tell you otherwise.