pricing a repo

[Carole]

I'm on the verge of making an offer for a repo in a suburban area near a city in the NW. It's a '95 Ranchero with mature landscaping, 3BR,2Bth with fam.rm. and a large workshop space. There's a lot of very personalized effects left behind by the former owners & included. Much of it would be considered art work. I've been told that, as lovely as I find it, most people would want to redo the house and destroy the art installations, so that might be why the house has been on the market some time and had the price dropped by about a third the original asking price. Well, I bonded with this house. I feel that it's the place for my family - 2 teenaged boys who share a 10 x10bdrm and a spouse who is quite ill and would benefit greatly from the comfort and simplicity of the house. However, I know very little about how to determine a value in order to make an offer. The place was listed for 38K, has dropped to 25K and, although the realtor says he's shown it to 2 other parties in 2 weeks since it was relisted, I may be the only person who is madly in love with the place. It looks like this house is in excellent condition and has all the appliances, no apparent damage. Rooms are small, but there's room to put on an addition. The style is quite plain (underneath the artwork), with a garden tub in the master being the extent of "style" built into the place. I don't want to end up paying too much just because I'm totally smitten. Any advice I can use when I make an offer? Just how low can I go without losing my chances?

[Tom]

Im not clear on this, you mentioned mature landscaping. Is this home on its own land and included in the price? Tom

[rmurray]

An actual fair price is a price a willing buyer is willing to pay..Only you can shop the alternatives in the area and decide what is best for you...Seems you really like this home with its special "artwork"...If you have found nothing else is priced better in the market that you like...This is the home for you...

It would not hurt to offer a few dollars less..Say $22 or $23...but remember if someone else comes along at the listed price while you are playing around..you will lose and have to buy something else...

As much as you seem to like this home...i would say go for it..do not lose it..hurry..From your description this is a one of a kind..Good Luck

[Gail]

Does anyone know of a manufacturer making 10x50 homes anymore? Old park with lots of seniors like the size.