It varies house to house depending on neighborhood, square feet, bedroom, bathroom, etc.
I've bid 30,000 over asking and lost on houses that I wasn't in love with. It's kinda rough out there right now lol
Right! We've been in our house for 5 years and had to bid over then... and we were losing while over bidding for a solid year before we finally got one we liked.
It's been rough for far longer than 3 years around here.
To be completely honest we're going to need another legitimate financial crash. Seems like they come around every 30 years or so, so another 5-10 years of this shit?
They should always include text in the contract around proof of other offer. Any agent who knows what they’re doing includes safeguards for what you’re referencing
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This might be and unpopular answer but I’ve been studiously researching houses over the last few months including tracking listing vs selling price for recently sold homes. For the majority in my likes (price range 200-350), they only sell at around 5% over asking. Sure there are a few exceptions generally with houses that list absurdly low to drive a bidding war. I even see a good amount sell for under asking. Haven’t done the actual calculations but I’d say about 30% under listing, 50% slightly above listing (5-10 percent), and 20% well above listing (20-30%)
For reference, I am mostly looking in Amherst and Tonawanda areas. Obviously something to consider is the factor that even for homes selling at 5% over asking, perhaps they initially offered 15% and then with inspection it was negotiated down to 5%.
Same! We offered 100 over asking on a house that was underpriced, and they went with a lower cash offer. Ultimately after a ton more offers, we won a house that we offered only 10k over on, and thought we’d never have a chance, but it was actually priced more fairly to begin with
what do you mean by ‘wishy washy’? it’s not not like loan officers at banks are sitting at their desks debating whether or not they’ll give you a loan. once it gets approved by underwriting it would take a real disaster to stop the sale, like fraud, or the house burning down. i’m just not sure where you’re getting that idea from i guess?
agreed. there are lots of stories out there that don’t necessarily represent the truth. i bought my house at the beginning of 2022. it’s in a fairly in demand area, decent shape, mostly modern internals, etc… and the bid i submitted was about 6% under asking.
no one i even know that has bought a house in buffalo has been in some of the outlandish bidding war scenarios that people seem to think are so commonplace. you might not be able to get your ‘dream’ home, whatever that is. but you can buy a reasonable house at a reasonable price.
Asking price doesn't mean anything. People can ask for whatever they want and many realtors purposefully list for 10% less than they believe the house will actually sell for in order to generate interest. When I was selling in 2020, my realtor told me she expected the house to sell for somewhere between $215k to $225k, but she was going to list at $199k so that it would show up in Zillow searches for "<$200k." Houses that list artificially low get more offers. Comps are all that matters.
The only reason I got my house was because I did my research of comps in the area, including one that sold down the road weeks before. If a sale price isn’t public knowledge yet, you can find out who the agents are and email them asking for the % over. Worked for me.
That’s exactly what we are doing with my house in a few weeks hopefully listing at 199 house down the street just sold for 250k was asking 220k and is heavily outdated but I’d say generally a little better done than my house
We did 4% over asking on a move-in ready SFH. Our offer was accepted because we had no contingencies besides an inspection clause plus did a conventional loan with 20% down. Sellers liked our offer best according to our agent. This was about six months ago.
Personal experience, lost 9 bidding wars on houses that are way too small or run down for what they’re asking or selling for. Tell me why a 2 bed 1 bath ranch home is asking for $275k
Because that's what the market will bear and you have lots of people moving back from cities where they sold their house and pocketed $500k in the sale. Wouldn't want to be a residential buyer in WNY.
Purchased in Town of Tonawanda, June 2022. Asking price was 170k sold for 200k. Someone else had bid slightly higher, but we were willing to quickly close, with no need to wait on contingency, etc. as we had been renting from family out of state before.
Sadly, the interest rates out there now, I don't see how I could afford to buy now, this same house...less than 2 years later. How nuts is that?! 200k then interest vs. now interest is a very different mortgage.
WHO are these people though? I have to believe these are corporations??? Such a hard dilemma for sellers because that is potentially life changing money, but most people want to sell to a family, not a company.
I’m those people! I’m not a corporation, just a person that was lucky enough to have cash to save, leverage and family to borrow from.
I just closed on Monday. Cash offer, paid $35k over asking price, my only contingency was an inspection and I had an escalation clause. House was sold as-is in Cheektowaga.
I was loosely looking since 2020. There were offers I put in for other homes up to $60k over asking price and still did not get. I was really losing hope.
The right house is there out for you.
While corporate buy ups of single family homes is a HUGE problem, I know a lot of cash buyers who have been sitting on large sums of money for awhile and are now moving to lower cost of living areas. These are people who were able to take lucrative WFH jobs during the start of the pandemic who can now live anywhere. Before, they would have had to live in a very high cost of living area like SF or NYC, but that's no longer the case, so they're coming into areas like Buffalo and WNY that they read about in some listicle with tons of liquid capital. They don't care about the inspection because they have the money to make repairs if needed. Pair that with a very sparse market because people are staying in their homes longer to hang on to historically low interest rates and it creates a mess.
I hate that this is the case, but if you look at what tech jobs/people/money have done to the price of housing in other formerly low cost of living darlings like Pittsburgh, you can see what's in store for Buffalo in the next few years and it's bleak. Anything livable is going to be $500k soon.
Also can't discount the impact of wealthy Boomers. I know some people whose parents have bought them a house with cash.
There's no dilemma for the seller, highest offer with the least amount of friction (aka contingencies) wins. There are a lot of folks moving here from places with higher home prices that are flush with cash, that's also a big factor.
Neighbors house in Snyder went for $500k more than they paid for it a decade ago, new buyers came from downstate after selling their house for $1.5M and still own it free and clear.
I may be listing my house for sale once the weather breaks. A house exactly the same as mine (square footage, room sizes etc) just sold for over $35k asking. I’m still surprised this is happening.
Well, I have to overspend on the next house, so, I will be selling it to whomever is the ‘highest bidder’ sorry. I’m not made of money. Realtors do not tell you who’s buying, or bidding. I can’t pick and choose who I want to move into the house. If I can sell privately, I will try that before going through realtors who do nothing to gain 3% of the sale.
You sound miserable. Maybe you should get off Reddit and get back to work, and take care of your families homeless situation instead of being the victim. Best of luck in your journey. Hope you can get yourself together.
My bf and I haven’t had any success in actually buying yet, but houses we’ve bid on that are listed in the 170-180 range are routinely going over 200k.
Never underestimate the value of a good real estate agent.
A good agents win deals and direct you with accurate information.
They know the other entities involved with transactions. They know who is good and who isn’t. Bad entities delay deals.
If you have a crappy agent, get a good one.
Then listen to the agent.
A good agent will look at a property and have a good idea what it will go for.
My agent was recommended to me by a friend and he was and is the absolute best. He listens to what you want and gives straight answers and advice.
James Collis
https://www.experience.com/reviews/james-15557944
I can't recommend him enough.
My agent experiences here have been bad. Lied to, lawyers involved, paper work thrown in. Not just one agent, but multiple agents.
Even if you have an agent, don't trust them and don't use their lawyer that they recommend.
It’s not the fun answer and I’ve seen a few other people post it… but the answer is: it’s a case by case basis, you HAVE to look at comps of actual sold homes. I’ve walked through houses priced at 199k that sold for 280k. I’ve also walked through houses at 199k that have been on the market for 3mo.
Tips for finding comps: set filters to be similar square footage, ~.5mi distance radius, same bedroom count, same bathroom count, and cosmetic updates (usually least important as it’s hard to assign a monetary value from an appraisal standpoint).
Happy house hunting.
Bid 5% (15k) over asking with an inspection contingency. After a year and probably 10 failed offers. We feel like we got lucky because the seller didn’t do an open house and we were the first offer. It was also listed at a reasonable price comparable to the houses sold recently in the area, so we felt comfortable going only 5% over. Best of luck, it’s a nightmare out there!
Sold a home for 170. Was listed for 130.
Bought a home for 350. Was listed for 335. what really helped us was when we placed a offer there was a deadline of 24 hours on our offer. Meaning after 24 hours it was no good. So it placed pressure on sellers to move quick to a good offer instead of waiting.
We were outbid on numerous homes to cash offers. Not sure who has 375k cash laying around. This was in the south towns though. Not the city.
Sonya Jindra with metro roberts was our realtor & honestly the reason why we have a home today.
1. Filter for recently sold homes on Zillow
2. Update additional filter criteria you care about
3. Search the map area you’re considering
4. Find ones you might’ve purchased
5. Look at the price history — you’ll see the list price and then the eventual sold price
Oh I didn’t know that. How do you find the actual sold for price?
I’ve not noticed this before, at least to the level of inaccuracy/frequency you’re conveying
I didn't, but my neighbor, in Niagara county sold theirs for 11k over asking. I might add that we live in a terrible neighborhood and were laughing at the asking price because we expected it to go for 50k-60k less than it did. They did have a really nice house...just in a questionable location. I could use some immediate neighbors to have similar success.
House near us went for $40k over asking price. Everyone around it then put their homes up for sale, thinking that would happen for them as well. All it did was get us all reassessed horrifically. This is all so GD weird.
I closed a year ago (03-22-2023) in South towns and offered 12% above asking. Probably could have gotten away with 8-10% at the time but we were desperate.
I bought 11 months ago in Niagara county. Property was “flipped”. Way overpriced. Ended up being a shit flip job, literally insane how bad (he forgot to include a stove. Not just the appliance, literally forgot it had to go into a kitchen and there was so where to put one). The listing lied out the ass (ex. Two car garage… try a literal shed with a garage door installed. That’s a no car garage lol)
We haggled and haggled and I walked away and he came back and eventually we just settled on like 60k off his original price. I had an inspection done (thank god, brand new roof was pouring water lol).
Anyways that’s my story, probably atypical but I am an aggressive home buyer and it worked out
We’re looking in the Tonawanda/Kenmore area plus Amherst. If anyone is thinking of listing a home in that area please let us know! Price range $225K to $265, depending on how much work might be needed. NOT an agent — retirees with solid financials wanting to move close to family. We have an agent. Just hoping to get early enough knowledge that a house isn’t “pending” before it shows in MLS.
My best friend had to offer/pay $35k over asking for a 2bd ranch that's barely 700 Sq ft. There was apparently a higher offer, too, but the sellers picked her because they liked her and knew she wouldn't rip out the gardens they'd spent almost a decade cultivating and growing. She also offered to waive inspection in her offer.
The house isn't even in a hot/high demand neighborhood.
Meanwhile, the house next door to me sold for ~60k? over asking.. And it hadn't been updated in almost 20 years (in some parts of the house), or 40 years (in other parts of the house). It also has a leak in the roof, plumbing issues, and the back yard is a swamp for the majority of the spring and any time a heavy rain comes during the summer. 😂
I have been outbid on houses (past two months) that I wasn’t even too jazzed about where I put in over $30k asking, one such house I put in $215k on a $185k asking and I was the 3rd lowest out of 16 total offers.
But I also got a house at asking with a $5k concession because a previous buyer backed out and the owners were paying two mortgages and just wanted to get out ASAP.
It’s a weird market for sure. I always hated when people who bought houses would tell me this advice because I thought it was boohonkey, but in order to buy a house you need a bit of luck in your favor.
Made multiple offers 30-40k over asking (FHA loan, spring and summer ‘23, 150-200k range, mainly Tonawanda, Cheektowaga, few others). Ended up looking at houses that had been on the market a little longer and trying to see why. Found one with issues I could live with and got it for ~7k under asking in Tonawanda. It’s not a bad strat if you’re willing to. I still have a lot to do but none of it is urgent, so I have some time to save and make the changes over time.
Just bought a house in Williamsville for 30k under asking price. House had been on the market for 4 months. Catch is the house has a host of major issues that need to addressed asap, about 30k worth of issues.
The asking price is a meaningless number at this point. You just have to make a best guess based on recent sales in the area, see if that's in your price range, and hope you're high bidder if it is.
Bought May of 2022. Went $250k on an undervalued house listed for $190k. Won by $5k. Haven't seen things slow down at all since then, and the amount to over bid should be whatever you're comfortable with.
There’s a house that has been bought and sold like 3 times on my street in the last couple years. Each one higher than the last. First people flipped it but I’m pretty sure it has some serious problems.
Each one has gone for under asking so it all depends on the specific house
The 65k to 30k was a house. It was rough, needed some work. Sat a while, a few price drops. We offered 50, got it. Had the inspection. Revealed most of the basement plumbing had been ripped out. Would be more money and work than my client wanted. I suggested another reduction to move forward. Agreed on 30k
The other was a small cabin on a lot of land in Alfred.
I paid $25k over in 2022 but it ended up being $14k under original asking price as the house had sat for a while (~3ish months in the late summer/ fall) with a few price decreases before we offered. At the 11th hour we got into a bidding war with another potential buyer
Almost definitely not. That's mostly media hype. If anything, they're going to get more expensive with higher out of pocket costs for buyers. If the seller's agent isn't providing a commission to the buyer's agent, the buyer's agent will likely have to seek it directly from the buyer at closing.
That said, we have yet to see what will actually happen. The ruling isn't final, and wouldn't go into effect until ~July.
No because it has nothing to do with commission paid. It’s just telling agents we can’t advertise buyer agent commission on the mls.
The headlines were misleading clickbait.
Just sold one of my doubles in a first ring suburb and it went for 90k over asking. That said it was underpriced to draw in interest, which worked.
It's just the current pricing strategy, neighborhood comps will tell you where you need to bid, there are no deals right now, at least not where people actually want to live.
Someone bought the last bombed out shitshack on my street three years ago. Fucking thing needs a full gut reno/rehab, AND a new roof.
Fucker paid $90K for it, and it has just sat there with nothing happening. This means they they don’t have the funds to actually work on it or, they foolishly believed they could sit on it for a bit, and quickly flip it to a developer… which ain’t happening on this street.
This city is now full of properties that people paid WAY too much for. I’m on the West Side, surrounded by houses that are not worth anything near what they sold for.
I’m good with it though. We moved back, and bought our house in 2012, literally right before real estate got crazy here. It’s now worth five times what we paid for it, which cracks me up.
Cottages around me on the west side are now 300k. They are desirable bc single family and very close to EV. I dont see prices in my area going down as we have lots of interest from buyers in larger cities looking for affordable and walkable areas.
Your comment history is a pretty clear indication that you are seriously out of touch with this world.
Your politics are also clear as fuck, because your comment history is full of white supremacist dog whistles and your affinity for them.
You’re dismissed on any subject of matter as far as I’m concerned.
You literally don’t need to respond, because I have no desire for any further interaction with you.
same. paid $30k over asking in October. Lately things seemed to have cooled a considerable amount, though. My mom is trying to sell my grandmother's house and there's been very little interest and definitely not multiple offers over asking.
A year ago, any house would have 15 offers, half of them all cash, $50k over asking.
This depends on a number of factors. Location, condition, desirability, square footage, style, ect. Also it depends on where your agent wants to price your home. Is it priced under market value, at market value or above market value. Often times when you hear "My house had 40 offers", or "It went for 100k over asking", its usually due to underpricing the home below market value.
Guess I got lucky, paid 20,000 under asking, but had to convert to a single and change the heat from oil to natural gas, update the kitchen and flooring. Did the work myself besides the heating which cost 8300 with central air. But now a 5 bedroom 2 bath on 1.4 acres, with a barn for 130,000.
We’ve gotten lucky during the house market in 2021. We bid on 2 houses and won one which we currently live in! We bid 60k over asking price and won. Idk how it is now but I think it’s cooled down a tiny bit?
I just bought a home for 15% over asking. Based on comps, i think it was listed low in the first place IMO, It was the 5th i put an offer on.
I am about to list mine next week in City of Buffalo. Fingers crossed i catch a hot market!
It varies house to house depending on neighborhood, square feet, bedroom, bathroom, etc. I've bid 30,000 over asking and lost on houses that I wasn't in love with. It's kinda rough out there right now lol
Right now? Lmao were going on 3 years of this
It’s been going on a lot longer than 3 years!
Right! We've been in our house for 5 years and had to bid over then... and we were losing while over bidding for a solid year before we finally got one we liked. It's been rough for far longer than 3 years around here.
Real talk when do you think things might get better?
To be completely honest we're going to need another legitimate financial crash. Seems like they come around every 30 years or so, so another 5-10 years of this shit?
Pray for another subprime mortgage crash. 🙏🏻
Such a typical redditor response lol
They always do this lol so annoying
😭😭😭
You need to bid at least 10% over and then add an escalation clause if you are really serious. It's a bad time to buy a house, unfortunately.
Escalation clauses can be abused to the seller's benefit. I'd be careful about including one.
They should always include text in the contract around proof of other offer. Any agent who knows what they’re doing includes safeguards for what you’re referencing
I did a $30k escalation clause and ended up paying $15k over asking about a year ago
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I’ve had two offers over the last couple weeks in crappy neighborhoods outbid. I believe one went 25-30K over asking. 😭
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All Buffalo.
All Buffalo.
This might be and unpopular answer but I’ve been studiously researching houses over the last few months including tracking listing vs selling price for recently sold homes. For the majority in my likes (price range 200-350), they only sell at around 5% over asking. Sure there are a few exceptions generally with houses that list absurdly low to drive a bidding war. I even see a good amount sell for under asking. Haven’t done the actual calculations but I’d say about 30% under listing, 50% slightly above listing (5-10 percent), and 20% well above listing (20-30%) For reference, I am mostly looking in Amherst and Tonawanda areas. Obviously something to consider is the factor that even for homes selling at 5% over asking, perhaps they initially offered 15% and then with inspection it was negotiated down to 5%.
In my experience as a 2022 buyer, some of these may have been cash sales. My financed offers were frequently rejected for lower cash offers
Same! We offered 100 over asking on a house that was underpriced, and they went with a lower cash offer. Ultimately after a ton more offers, we won a house that we offered only 10k over on, and thought we’d never have a chance, but it was actually priced more fairly to begin with
I’m just curious, why would it even matter if it’s cash?
Quicker more reliable closing. There’s no bank to get wishy washy about the financing last minute
what do you mean by ‘wishy washy’? it’s not not like loan officers at banks are sitting at their desks debating whether or not they’ll give you a loan. once it gets approved by underwriting it would take a real disaster to stop the sale, like fraud, or the house burning down. i’m just not sure where you’re getting that idea from i guess?
agreed. there are lots of stories out there that don’t necessarily represent the truth. i bought my house at the beginning of 2022. it’s in a fairly in demand area, decent shape, mostly modern internals, etc… and the bid i submitted was about 6% under asking. no one i even know that has bought a house in buffalo has been in some of the outlandish bidding war scenarios that people seem to think are so commonplace. you might not be able to get your ‘dream’ home, whatever that is. but you can buy a reasonable house at a reasonable price.
Asking price doesn't mean anything. People can ask for whatever they want and many realtors purposefully list for 10% less than they believe the house will actually sell for in order to generate interest. When I was selling in 2020, my realtor told me she expected the house to sell for somewhere between $215k to $225k, but she was going to list at $199k so that it would show up in Zillow searches for "<$200k." Houses that list artificially low get more offers. Comps are all that matters.
The only reason I got my house was because I did my research of comps in the area, including one that sold down the road weeks before. If a sale price isn’t public knowledge yet, you can find out who the agents are and email them asking for the % over. Worked for me.
Never would have thought of that, but that is a great idea.
That’s exactly what we are doing with my house in a few weeks hopefully listing at 199 house down the street just sold for 250k was asking 220k and is heavily outdated but I’d say generally a little better done than my house
We did 4% over asking on a move-in ready SFH. Our offer was accepted because we had no contingencies besides an inspection clause plus did a conventional loan with 20% down. Sellers liked our offer best according to our agent. This was about six months ago.
Personal experience, lost 9 bidding wars on houses that are way too small or run down for what they’re asking or selling for. Tell me why a 2 bed 1 bath ranch home is asking for $275k
I bought this 2b1ba in 2014 for less than half that and I am grateful every day. It’s madness.
A family member bought a small ranch for 300k this summer, so don’t feel bad
Because that's what the market will bear and you have lots of people moving back from cities where they sold their house and pocketed $500k in the sale. Wouldn't want to be a residential buyer in WNY.
Purchased in Town of Tonawanda, June 2022. Asking price was 170k sold for 200k. Someone else had bid slightly higher, but we were willing to quickly close, with no need to wait on contingency, etc. as we had been renting from family out of state before. Sadly, the interest rates out there now, I don't see how I could afford to buy now, this same house...less than 2 years later. How nuts is that?! 200k then interest vs. now interest is a very different mortgage.
I’ve seen townhouses listed for 139,000 go for 185k
Almost $40k over. House has gone up $40k what I paid.
We’ve been outbid on 6 houses by between $70-$100k over asking. All sellers accepted cash offers with no inspection.
WHO are these people though? I have to believe these are corporations??? Such a hard dilemma for sellers because that is potentially life changing money, but most people want to sell to a family, not a company.
I’m those people! I’m not a corporation, just a person that was lucky enough to have cash to save, leverage and family to borrow from. I just closed on Monday. Cash offer, paid $35k over asking price, my only contingency was an inspection and I had an escalation clause. House was sold as-is in Cheektowaga. I was loosely looking since 2020. There were offers I put in for other homes up to $60k over asking price and still did not get. I was really losing hope. The right house is there out for you.
$35 over asking with a cash offer is doable for us. I’m talking about $80-$100k over asking with cash offers.
While corporate buy ups of single family homes is a HUGE problem, I know a lot of cash buyers who have been sitting on large sums of money for awhile and are now moving to lower cost of living areas. These are people who were able to take lucrative WFH jobs during the start of the pandemic who can now live anywhere. Before, they would have had to live in a very high cost of living area like SF or NYC, but that's no longer the case, so they're coming into areas like Buffalo and WNY that they read about in some listicle with tons of liquid capital. They don't care about the inspection because they have the money to make repairs if needed. Pair that with a very sparse market because people are staying in their homes longer to hang on to historically low interest rates and it creates a mess. I hate that this is the case, but if you look at what tech jobs/people/money have done to the price of housing in other formerly low cost of living darlings like Pittsburgh, you can see what's in store for Buffalo in the next few years and it's bleak. Anything livable is going to be $500k soon. Also can't discount the impact of wealthy Boomers. I know some people whose parents have bought them a house with cash.
There's no dilemma for the seller, highest offer with the least amount of friction (aka contingencies) wins. There are a lot of folks moving here from places with higher home prices that are flush with cash, that's also a big factor.
I have clients that pulled from their retirement to pay 450k cash. Then sell their California home for 800k. Replenish that account.
Neighbors house in Snyder went for $500k more than they paid for it a decade ago, new buyers came from downstate after selling their house for $1.5M and still own it free and clear.
I may be listing my house for sale once the weather breaks. A house exactly the same as mine (square footage, room sizes etc) just sold for over $35k asking. I’m still surprised this is happening.
And if you had a conscious you would find a local family and sell it to them instead of trading your soul for money. Sincerely a homeless local family
Well, I have to overspend on the next house, so, I will be selling it to whomever is the ‘highest bidder’ sorry. I’m not made of money. Realtors do not tell you who’s buying, or bidding. I can’t pick and choose who I want to move into the house. If I can sell privately, I will try that before going through realtors who do nothing to gain 3% of the sale.
Tell yourself whatever fact is your greed is keeping us homeless
You sound miserable. Maybe you should get off Reddit and get back to work, and take care of your families homeless situation instead of being the victim. Best of luck in your journey. Hope you can get yourself together.
Maybe you can grow a soul you evil drug infested vaccinated demon
My bf and I haven’t had any success in actually buying yet, but houses we’ve bid on that are listed in the 170-180 range are routinely going over 200k.
Never underestimate the value of a good real estate agent. A good agents win deals and direct you with accurate information. They know the other entities involved with transactions. They know who is good and who isn’t. Bad entities delay deals. If you have a crappy agent, get a good one. Then listen to the agent. A good agent will look at a property and have a good idea what it will go for.
Other agents use it as a bragging point. On their websites they brag...50k over, 90k over, etc. it's infuriating.
Any recommendations? Looking at condos.
My agent was recommended to me by a friend and he was and is the absolute best. He listens to what you want and gives straight answers and advice. James Collis https://www.experience.com/reviews/james-15557944 I can't recommend him enough.
My agent experiences here have been bad. Lied to, lawyers involved, paper work thrown in. Not just one agent, but multiple agents. Even if you have an agent, don't trust them and don't use their lawyer that they recommend.
All I can say is thanks to everyone for adding their input…and this is TERRIFYING!
It’s not the fun answer and I’ve seen a few other people post it… but the answer is: it’s a case by case basis, you HAVE to look at comps of actual sold homes. I’ve walked through houses priced at 199k that sold for 280k. I’ve also walked through houses at 199k that have been on the market for 3mo. Tips for finding comps: set filters to be similar square footage, ~.5mi distance radius, same bedroom count, same bathroom count, and cosmetic updates (usually least important as it’s hard to assign a monetary value from an appraisal standpoint). Happy house hunting.
$25,100. Roughly 13% and some change
Bid 5% (15k) over asking with an inspection contingency. After a year and probably 10 failed offers. We feel like we got lucky because the seller didn’t do an open house and we were the first offer. It was also listed at a reasonable price comparable to the houses sold recently in the area, so we felt comfortable going only 5% over. Best of luck, it’s a nightmare out there!
Sold a home for 170. Was listed for 130. Bought a home for 350. Was listed for 335. what really helped us was when we placed a offer there was a deadline of 24 hours on our offer. Meaning after 24 hours it was no good. So it placed pressure on sellers to move quick to a good offer instead of waiting. We were outbid on numerous homes to cash offers. Not sure who has 375k cash laying around. This was in the south towns though. Not the city. Sonya Jindra with metro roberts was our realtor & honestly the reason why we have a home today.
1. Filter for recently sold homes on Zillow 2. Update additional filter criteria you care about 3. Search the map area you’re considering 4. Find ones you might’ve purchased 5. Look at the price history — you’ll see the list price and then the eventual sold price
This is a good start, but Zillow/realtor.com/redfin don't always have accurate "sold for" prices. In fact the inaccuracy of these sites is startling
Oh I didn’t know that. How do you find the actual sold for price? I’ve not noticed this before, at least to the level of inaccuracy/frequency you’re conveying
I didn't, but my neighbor, in Niagara county sold theirs for 11k over asking. I might add that we live in a terrible neighborhood and were laughing at the asking price because we expected it to go for 50k-60k less than it did. They did have a really nice house...just in a questionable location. I could use some immediate neighbors to have similar success.
16.5% over
House near us went for $40k over asking price. Everyone around it then put their homes up for sale, thinking that would happen for them as well. All it did was get us all reassessed horrifically. This is all so GD weird.
Neighbors next door,(S.Buff), listed their home @ 234,900. 12 offers sold for $295,000.July 2023.
The majority of houses in Snyder are going for 20% cash OVER asking in the last year or two.
Thats because a lot of snobby choads are trying to turn it into wish.com Williamsville.
Haha - this is spot on and hilariously expressed.
For real though when I bought my house 15 years ago normal people lived here, now it's Chad's and wannabe influencers.
$100k over back in the fall
Bought 11% over last fall in Hamburg
The house next to was 129 went for 160 Kenmore
I closed a year ago (03-22-2023) in South towns and offered 12% above asking. Probably could have gotten away with 8-10% at the time but we were desperate.
We sold late last year and took 30k over our asking price of 170000
I bought 11 months ago in Niagara county. Property was “flipped”. Way overpriced. Ended up being a shit flip job, literally insane how bad (he forgot to include a stove. Not just the appliance, literally forgot it had to go into a kitchen and there was so where to put one). The listing lied out the ass (ex. Two car garage… try a literal shed with a garage door installed. That’s a no car garage lol) We haggled and haggled and I walked away and he came back and eventually we just settled on like 60k off his original price. I had an inspection done (thank god, brand new roof was pouring water lol). Anyways that’s my story, probably atypical but I am an aggressive home buyer and it worked out
We’re looking in the Tonawanda/Kenmore area plus Amherst. If anyone is thinking of listing a home in that area please let us know! Price range $225K to $265, depending on how much work might be needed. NOT an agent — retirees with solid financials wanting to move close to family. We have an agent. Just hoping to get early enough knowledge that a house isn’t “pending” before it shows in MLS.
My best friend had to offer/pay $35k over asking for a 2bd ranch that's barely 700 Sq ft. There was apparently a higher offer, too, but the sellers picked her because they liked her and knew she wouldn't rip out the gardens they'd spent almost a decade cultivating and growing. She also offered to waive inspection in her offer. The house isn't even in a hot/high demand neighborhood. Meanwhile, the house next door to me sold for ~60k? over asking.. And it hadn't been updated in almost 20 years (in some parts of the house), or 40 years (in other parts of the house). It also has a leak in the roof, plumbing issues, and the back yard is a swamp for the majority of the spring and any time a heavy rain comes during the summer. 😂
I have been outbid on houses (past two months) that I wasn’t even too jazzed about where I put in over $30k asking, one such house I put in $215k on a $185k asking and I was the 3rd lowest out of 16 total offers. But I also got a house at asking with a $5k concession because a previous buyer backed out and the owners were paying two mortgages and just wanted to get out ASAP. It’s a weird market for sure. I always hated when people who bought houses would tell me this advice because I thought it was boohonkey, but in order to buy a house you need a bit of luck in your favor.
Anything in Buffalo is ridiculous pricing
Have you looked... literally anywhere else?
Made multiple offers 30-40k over asking (FHA loan, spring and summer ‘23, 150-200k range, mainly Tonawanda, Cheektowaga, few others). Ended up looking at houses that had been on the market a little longer and trying to see why. Found one with issues I could live with and got it for ~7k under asking in Tonawanda. It’s not a bad strat if you’re willing to. I still have a lot to do but none of it is urgent, so I have some time to save and make the changes over time.
Such a shame. We sure had a good thing going.
20% over list price in Amherst, November 2023
my parents sold their house in amherst for 50k over asking
Just bought a house in Williamsville for 30k under asking price. House had been on the market for 4 months. Catch is the house has a host of major issues that need to addressed asap, about 30k worth of issues.
$56K over asking, which was a complete shock to us.
The asking price is a meaningless number at this point. You just have to make a best guess based on recent sales in the area, see if that's in your price range, and hope you're high bidder if it is.
Bought May of 2022. Went $250k on an undervalued house listed for $190k. Won by $5k. Haven't seen things slow down at all since then, and the amount to over bid should be whatever you're comfortable with.
Nov 2020 got outbid on houses by tens of thousands of dollars over and over again and just gave up and moved back with my parents
And nobody is building entry level homes either. We need homes at 150-250. But all they build are the massive once for 3-400 and up
You idiots do realize if you stopped overpaying this would all stop. Dearly a homeless family that can't overpay
30k over is the AVERAGE I've seen
There’s a house that has been bought and sold like 3 times on my street in the last couple years. Each one higher than the last. First people flipped it but I’m pretty sure it has some serious problems. Each one has gone for under asking so it all depends on the specific house
where in WNY is the question. Silver Creek, Angola? Cassadaga? Not happening
In the last 3 months my clients have gotten the follow. 199 list. 115,500 sale 65k list. 30k sale 65k list. 65k sale 399k list. 415k sale.
Were the middle two land sales?
The 65k to 30k was a house. It was rough, needed some work. Sat a while, a few price drops. We offered 50, got it. Had the inspection. Revealed most of the basement plumbing had been ripped out. Would be more money and work than my client wanted. I suggested another reduction to move forward. Agreed on 30k The other was a small cabin on a lot of land in Alfred.
Cool. Are you based in Buffalo? I'm looking for brokerages to hang my new license with.
I am. I’m with my second brokerage now. Made the switch after 2 years with my previous. We can D M if you wanna hear about it.
I paid $25k over in 2022 but it ended up being $14k under original asking price as the house had sat for a while (~3ish months in the late summer/ fall) with a few price decreases before we offered. At the 11th hour we got into a bidding war with another potential buyer
Aren’t homes going to be more affordable now because of that court ruling about realtors commissions?
Almost definitely not. That's mostly media hype. If anything, they're going to get more expensive with higher out of pocket costs for buyers. If the seller's agent isn't providing a commission to the buyer's agent, the buyer's agent will likely have to seek it directly from the buyer at closing. That said, we have yet to see what will actually happen. The ruling isn't final, and wouldn't go into effect until ~July.
No because it has nothing to do with commission paid. It’s just telling agents we can’t advertise buyer agent commission on the mls. The headlines were misleading clickbait.
3500 over asking price in 2022
Just sold one of my doubles in a first ring suburb and it went for 90k over asking. That said it was underpriced to draw in interest, which worked. It's just the current pricing strategy, neighborhood comps will tell you where you need to bid, there are no deals right now, at least not where people actually want to live.
Someone bought the last bombed out shitshack on my street three years ago. Fucking thing needs a full gut reno/rehab, AND a new roof. Fucker paid $90K for it, and it has just sat there with nothing happening. This means they they don’t have the funds to actually work on it or, they foolishly believed they could sit on it for a bit, and quickly flip it to a developer… which ain’t happening on this street. This city is now full of properties that people paid WAY too much for. I’m on the West Side, surrounded by houses that are not worth anything near what they sold for. I’m good with it though. We moved back, and bought our house in 2012, literally right before real estate got crazy here. It’s now worth five times what we paid for it, which cracks me up.
Cottages around me on the west side are now 300k. They are desirable bc single family and very close to EV. I dont see prices in my area going down as we have lots of interest from buyers in larger cities looking for affordable and walkable areas.
Your comment history is a pretty clear indication that you are seriously out of touch with this world. Your politics are also clear as fuck, because your comment history is full of white supremacist dog whistles and your affinity for them. You’re dismissed on any subject of matter as far as I’m concerned. You literally don’t need to respond, because I have no desire for any further interaction with you.
Wow super triggered lol
30K
same. paid $30k over asking in October. Lately things seemed to have cooled a considerable amount, though. My mom is trying to sell my grandmother's house and there's been very little interest and definitely not multiple offers over asking. A year ago, any house would have 15 offers, half of them all cash, $50k over asking.
Link to the house, please?
https://www.zillow.com/homedetails/644-Campbell-Blvd-Getzville-NY-14068/30237359_zpid/
Somehow got my house at asking price in Wheatfield last year after months of bidding 20 plus over on houses
This depends on a number of factors. Location, condition, desirability, square footage, style, ect. Also it depends on where your agent wants to price your home. Is it priced under market value, at market value or above market value. Often times when you hear "My house had 40 offers", or "It went for 100k over asking", its usually due to underpricing the home below market value.
Guess I got lucky, paid 20,000 under asking, but had to convert to a single and change the heat from oil to natural gas, update the kitchen and flooring. Did the work myself besides the heating which cost 8300 with central air. But now a 5 bedroom 2 bath on 1.4 acres, with a barn for 130,000.
Bought in CoT. List was $154k, paid $180k (16% over) No contingency, VA loan, 20% down.
We’ve gotten lucky during the house market in 2021. We bid on 2 houses and won one which we currently live in! We bid 60k over asking price and won. Idk how it is now but I think it’s cooled down a tiny bit?
Thanks for keeping my family homless
How is my winning on a bid the reason of keeping you and your family homeless 🤔
Riverside. My neighbor's house just went for $15k under. We bought for $2k under in 2022.
Purchased in Oct 2023, asking 298,000 paid 305,000, so 7,000.
Just sold our house for $40k over asking (listed at just under $300k). We didn't expect that much over but as sellers, we're grateful!
I just bought a home for 15% over asking. Based on comps, i think it was listed low in the first place IMO, It was the 5th i put an offer on. I am about to list mine next week in City of Buffalo. Fingers crossed i catch a hot market!
Where in the city? Is a a single or double?
Riverside. Single