Spouse got out of the hospital last Friday, and the first thing we did was drive to our favorite local brewery to enjoy beers and tasty sandwiches in the bright New Mexico sun. Truly, there is nothing better. We spent a few hours on Sunday scouting out potential houses with our real estate agent, and found one we really liked.
The house was pretty nice, with a newly remodeled kitchen, great outdoor space, and in a neighborhood we’ve been eyeing. The complicating factor was that it was ridiculously overpriced. As in, the average price per square foot in Albuquerque is around $100, and they were asking over twice that. Even in the nicest of neighborhoods, this is hard to justify. It’s a nice house, but the owner was asking more per square foot than other nearby sellers, and the other comparable properties had upgraded bathrooms (this house did not), more space, etc. We wanted to make an offer, but at a much lower price than the seller had listed. Her agent said, “Bring on any offers, no matter how low!” We knew from our agent talking to hers that there had been no offers, and the house had been on the market for over 100 days.
We made an offer yesterday, and the owner’s agent immediately said that the owner would not even respond to an offer that was less than $200/square foot. Do WHAT?! After your solicitation of “any offers, no matter how low”? Sure, good luck with that.
Now we’re considering an adorable, totally renovated Victorian bungalow in a nice neighborhood very close to where we live now. The price is much more reasonable, it’s much nicer overall, and it has an amazing WalkScore (allegedly 80). We may put in an offer early next week, if any of the houses we see this weekend don’t immediately grab us. It’s nice to be in a strong bargaining position, since we have the money and don’t have to get out from under a house before buying. We also have the luxury of time, since there’s another 3 months left on our lease. At the end of all this, we’re likely going to have a pretty awesome house and that excites me.