It's a 3 bed/1 bath colonial out in the country. It's about 50 minutes from where I live now, so it's closer than the ones I was looking at before. It's listed for $224,900. I went to the open house and spoke with the listing agent.

He stated it was originally put on the market in April, went under contract for $230k (was listed higher before) and the buyer defaulted on the contract due to divorce, and is back on the market. According to him, the sellers are not accepting any offers below $205k.

I orignally put in a "verbal offer" for $175k with another agent (who was very honest - and I felt he was/is looking out for my best interest), and the listing agent wouldn't even present it - stating they were confident they could get near thier asking price. Am I being squeezed? It is true that there is no other homes in the area listed for this little - and it is a very nice house for the money.

There is a big hill in the back yard, but the property is sloped in such a way where any water would run into the neighbors yard. The basement is partially finished with carpet and is dry as a bone. The other thing is the house is 115 years old. It has newer vynil windows, new kitchen, up to date plumbing, oil heat with forced hot air, etc. The house seems VERY solid.. but what do you think of a more than century old house? Here are some photos:

http://publicstage.gsmls.marketlinx.com/templates/media.asp?Uid=3164437&MlsNum=2070432

http://207.44.234.41/hope/

Verbal offers aren't worth their weight in dog crap anyone that would play that game is juvinile.

If he won't submit the offer for $175,000 submit it yourself or find another broker. Offers are time consuming and time is money, if the listing agent had instructions to not present offers less than $206,000 then its safe to say they won't look at your lowball.

My house was built in 1890. I like older houses. At least around here, they have features such as oak trim and floors and 10' ceilings that are not as prevalent in newer homes. Older houses typically require more work, but I don't mind doing it. What kind of plumbing/septic system does it have?

__________________
1977 300d 70k--sold 08
1985 300TD 185k+
1984 307d 126k--sold 8/03
1985 409d 65k--sold 06
1984 300SD 315k--daughter's car
1979 300SD 122k--sold 2/11
1999 Fuso FG Expedition Camper
1993 GMC Sierra 6.5 TD 4x4
1982 Bluebird Wanderlodge CAT 3208--Sold 2/13

That's what I've been told.. but how do I know if I'm being squeezed?

The house has a 100gal septic system and well water with a jet pump.

My house is 1895 or so. Old houses have drawbacks, small closets, tiny bedrooms one bath, ect. but they are usually in pretty neat neighborhoods so I think that makes up for it. As far as the heating, plumbing, electrical "systems" those have usually been updated within the last 20 years so it's not much different than your run of the mill 70's ranch home.

The house looks cool. I don't know what the market is like in NJ but that house is 225k all day long in Denver. How busy is the street that it's on though? I know everything has it's price but that is my personal dealbreaker, I hate houses on busy streets.

Make the lowball offer. A buddy of mine did the same. Offered something like 225 on a 275k house. The agent said the offerer was "embarrassing" My buddy said "Fine, let me be embarrassed" Six weeks later the owner called and they did the deal at close to his offer.

You can't dictate value from afar, that house could sell for a million in one area and $1500 in Detroit.

Value is perceived so if you've been shopping how much do you think its worth.

If you need the house (don't think so) offer what they are asking.
If you don't need it offer what you'ld like to pay for it (the dollar amount that it becomes a feel good deal for you).

__________________
-Marty

1986 300E 220,000 miles+ transmission impossible
(Now waiting under a bridge in order to become one)

Reading your M103 duty cycle:
http://www.peachparts.com/shopforum/showpost.php?p=831799&postcount=13
http://www.peachparts.com/shopforum/showpost.php?p=831807&postcount=14

[QUOTE=MedMech]You can't dictate value from afar, that house could sell for a million in one area and $1500 in Detroit.
QUOTE]

I know, I'm just trying to say something nice.

[QUOTE=koop]Stop trying it no use you're a lawyer

Evaluating a house is impossible without detailed pictures of the garage.