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What would be a reasonable house price?

In today's market, what's a reasonable % to pay for the listing price of a house in Chicago NW burbs?

  • What % should I expect? People want to get rid of their houses. However, my "highest price I'll pay" is going to be around 290k. Is there any chance of someone with a houe in the 350-370 range will take 290? Or is that too farfetched? Or heck, is nothing farfetched in this market?

  • Answer:

    You can always try but it looks to me that the people who are serious about selling have built the market into their price. I live in the NW burbs and do keep an eye on this stuff mostly out of curiosity. There are some deals on foreclosures but they invariably need work, some more than others. It also has everything to do with location. The really attractive suburbs are still priced that way. Not necessarily at 2005 prices but not much being given away either. Good Luck!

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I live in Naperville IL and live there for a reason. Homes in that area are keeping their value if not increasing. I purchased my tri level home several years ago for $250 and could easily sell it for $320- just because of the area and lot location... Good Luck!!!

Jennifer S

I would go for it. We were looking to buy not too long ago, in the North and Northwest, and we heard of people getting crazy deals because owners are trying to sell. Our realtor said to start off offering 20% off the listing price, or even less. You might not get it, but it would be a good starting point.

Lady in Red

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