Base your offer on similar completed sales and what you can comfortably afford, not a standard discount from asking price. I'll help you weigh those limits without losing sight of what matters to you.
For Watkins single-family homes, condos, townhouses and apartments, the latest market report lists a typical sale price of $425,000. Homes sold for an average of 98.7% of their asking prices. Reported housing supply, measured in months, was 6.27. The number of homes sold in the latest market report was 13.
The average percentage of asking price that homes sold for is context, not a discount formula for your offer. I would put greater weight on recent sales of homes with similar size, condition and features. Your financial limit should remain separate from a seller's asking price, even when the home fits your priorities.
Review recent sales of similar homes with me to establish a reasonable offer range. Ask your lender to explain the payment and money needed at closing before deciding the maximum price you are comfortable offering. Identify the financing and inspection requirements you need before discussing changes to the offer conditions.
