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#21
04-23-2007, 04:57 PM
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Re: Offering more than the asking price
[ QUOTE ]
I heard the Michigan market isn't doing too good. Is that where Detroit and all the layoffs are happening? [/ QUOTE ] Yes. Detroit is ~40 min east of where I live. We are somewhat isolated from Michigan's declining market, since Ann Arbor is a big college town. There will always be 30-some thousand college kids looking to rent, and there will always be academics and people looking for the little oases of culture in the midwest. That's not to say our market hasn't been hit; prices are not rising like they used to, and some are dropping. Pfizer just closed a huge plant in Ann Arbor as well. But, with patience, there are definitely bargains to be had. 
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#22
04-23-2007, 05:00 PM
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Re: Offering more than the asking price
[ QUOTE ]
Out of curiosity, where was the house located in AA? I'm also in AA so feel free to give something as specific as street names or as vague as 'undergrad ghetto' or west side. [/ QUOTE ] 2220 E. Stadium, across from Tappan Middle School and directly west of St. Francis Catholic Church.
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#23
04-23-2007, 05:04 PM
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Re: Offering more than the asking price
[ QUOTE ]
[ QUOTE ] I heard the Michigan market isn't doing too good. Is that where Detroit and all the layoffs are happening? [/ QUOTE ] Yes. Detroit is ~40 min east of where I live. We are somewhat isolated from Michigan's declining market, since Ann Arbor is a big college town. There will always be 30-some thousand college kids looking to rent, and there will always be academics and people looking for the little oases of culture in the midwest. That's not to say our market hasn't been hit; prices are not rising like they used to, and some are dropping. Pfizer just closed a huge plant in Ann Arbor as well. But, with patience, there are definitely bargains to be had. [/ QUOTE ] ohhhhhh I'd make a killing if I lived in Detroit. For about 20 seconds I was tempted to move there... I'd say this is the best time to buy in Detroit.
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#24
04-24-2007, 10:56 AM
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Re: Offering more than the asking price
IIRC that's a nice part of town. My adviser lives down there somewhere just off of Stadium. I'm guessing it was a Pfizer employee or someone trying to beat the Pfizer rush this summer by selling low. It could be an indication of where prices are going to be this summer (but my guess is they'll be a bit higher than that).
If you find any places around North Campus that are bargains but you don't want for some reason feel free to PM me [img]/images/graemlins/smile.gif[/img].
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#25
04-26-2007, 05:27 PM
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Re: Offering more than the asking price
you gave them too long to decide and next time when its a steal have your realtor call theirs and tell them you have a full price offer but must get it signed right now or the deal will not work as you are between two houses . never let a selling shop your offer. and have your realtor badger the listing agent how your offer is coming along and if there is a problem, then get a counter offer.
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#26
05-02-2007, 03:49 AM
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Re: Offering more than the asking price
one other thing to consider is who the agent was for the buyer with the accepted bid. it's possible it could be the listing agent or an agent from their office who had "inside" info. not much else you could do considering you offered asking price after concessions, especially in the michigan market. good listing agents will let both parties know that there will be multiple offers in order for them to give there best offers first, thus bringing in the most value for their seller. why this didn't happen in your case, makes me think my earlier example might have been in play.
i think the 3% issue has been cleared up. it is totally standard here in michigan for closing costs and pre-paids. anything else (carpet allowance, landscaping allowance, etc) will have to be lobbied for to the underwriter.
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