Open House -- Submit a low offer? and Isn't the Internet scary??

[philixir]

 
We went to an Open House today in Marblehead, a house just off the 4th hole of the Tedesco Golf Course.  This home, we were told was owned by a grandparent, later passed on to a child, then to a grandchild.

Very nice views of the golf course, needs a bit of work, but a lovely 2 lot piece of property on the southeastern east of Marblehead -

Comments

[philixir]

On one hand, yes, it is true the house has been on the market for 13 days. I have seen several instance in other towns where the price has dropped slightly even after 11 days. Those instances, I suspect, are based upon feedback received during an open house from prospective buyers. I had read somewhere that the avg. length a home is on the market is ~90 days, but frankly, I think that is a useless stat.

Yes, you can always go up, and it's the 3rd hand (the invisible hand?) which needs to be balanced with the "other hand", and therein lies the issue. It is worth noting that the house is virtually empty except the pool table in the basement, and shows poorly. The exterior is a tad rough in need of painting, and there are a few other cosmetic issues.

The comps are obviously key but may be difficult to assess, given 1) the condition as noted above 2) the difficulty in assessing the value of the abutting golf course and 3) the current real estate market. That's life!!

I've not put the question to the RE agent, the listing agent. I have, however, contacted another agent asking her if she would represent as a buyer. We met her in the Spring, and she will represent buyers.