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Stefanie
♥
Member since 5/05 23599 total posts
Name:
Stefanie
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Update on our co-op
and got an offer!! I have it listed for 179,999 and the offer was for 160,000.
Hmm, what to do...what to do!!!
**UPDATE**
Well, we accepted the offer! We didn't counter because these co-ops aren't appraising out very high. We know that it's a very reasonable price...and a lot more than we paid for it 4 years ago.
Woo hoo!! Time to look for a house soon!!
Message edited 9/24/2006 8:57:43 PM.
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Posted 9/22/06 5:57 PM  |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Showed our co-op today
That's great news - and it's not that far off frrom your asking price.
Are you firm on the 179K - or would you be ableto meet them halfway?
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| Posted 9/22/06 6:11 PM |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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Re: Showed our co-op today
Posted by Diana1215
That's great news - and it's not that far off frrom your asking price.
Are you firm on the 179K - or would you be ableto meet them halfway?
i agree. if you arent firm counter at $175K...they'll probably go to $165k...good luck!!!
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| Posted 9/22/06 6:12 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Showed our co-op today
counter- and then I bet you come to a number you are both happy with!
good luck
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| Posted 9/22/06 6:14 PM |
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Stefanie
♥
Member since 5/05 23599 total posts
Name:
Stefanie
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Re: Showed our co-op today
We are willing to come down a bit, but we haven't decided how much to come down.
There is good news and not so good news..
She's already been pre-approved by the board because she was looking at another co-op in our complex. The not so good news is that the appraisal on the co-op that she looked at last appraised for 30 thousand less than asking price.
She walked away because she didn't feel it was worth the money and the sellers didn't want to budge. I can understand that. The co-op was on the first floor and I don't know the condition of it either. If anyone has ever seen my co-op here on lif, you know it doesn't need a THING...plus it's on the second floor all the way in the back, so it's secluded.
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| Posted 9/22/06 6:24 PM |
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Diana1215
Living on a prayer!!!
Member since 10/05 29450 total posts
Name:
Diana
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Re: Showed our co-op today
Do you know why it didn't appraise for the price? Was the price too high? Is it around your asking price?
Message edited 9/22/2006 6:37:02 PM.
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| Posted 9/22/06 6:36 PM |
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Stefanie
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Member since 5/05 23599 total posts
Name:
Stefanie
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Re: Showed our co-op today
Their co-op was around 165ish and it appraised for 135. I just think co-ops are having a tough time selling and are really taking a hurting with the prices dropping.
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| Posted 9/22/06 6:43 PM |
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anjerandunder
Positive thoughts worked!!!
Member since 6/06 1909 total posts
Name:
J
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Re: Showed our co-op today
Posted by Stefanie
Their co-op was around 165ish and it appraised for 135. I just think co-ops are having a tough time selling and are really taking a hurting with the prices dropping.
yeah ours too but i'm not too willing to go down 20000 on my asking price which is what people were offering. we're actually thinking of staying at this point. good luck and remember that the market has really become a buyers market 
Message edited 9/22/2006 7:49:34 PM.
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| Posted 9/22/06 7:48 PM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Showed our co-op today
Posted by Stefanie
Their co-op was around 165ish and it appraised for 135. I just think co-ops are having a tough time selling and are really taking a hurting with the prices dropping.
Co-Op are a tough sell. I've always heard that, but I think if you counter and get 165k, that's pretty great. How bad do you want out? Are you breaking even? etc
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| Posted 9/22/06 8:11 PM |
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Stefanie
♥
Member since 5/05 23599 total posts
Name:
Stefanie
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Re: Showed our co-op today
We want to get out because we need more room...but we will wait until it's the right time, if this falls through. If I told you what we bought the place for, you'd fall over! Let's just say it was under 70,000...
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| Posted 9/22/06 8:17 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Showed our co-op today
Posted by Stefanie
We want to get out because we need more room...but we will wait until it's the right time, if this falls through. If I told you what we bought the place for, you'd fall over! Let's just say it was under 70,000...
my Dad just sold his house for $80 less then he wanted
b/c if he waited a few more months- he might of had to take $120K less
the market is changing- and you are making a HUGE profit- waiting for $10K more might not be the best idea
prices are proabaly going to keep dropping for a little bit
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| Posted 9/22/06 8:27 PM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Showed our co-op today
When we dols our co-op we settled for a price that was about $10,000 less than we wanted because we knew the market was changing....and we knew the buyers would be approved by the board.
If you know they're going to be approved....that's HUGE!
Good Luck!
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| Posted 9/22/06 9:12 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Showed our co-op today
i would counter to meet in the middle.
the way the market has changed, i dont think I would chance it for $10K.
good luck!
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| Posted 9/22/06 10:55 PM |
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rose825
Best Friends
Member since 6/05 10228 total posts
Name:
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Re: Showed our co-op today
I would counter but be prepared to take a little less.
As a board member, I would also recommend contacting your managing agent. When the banks want comparable sales they call your managaing agent. They can basically pick which 3 comparable sales to give them, and they do not have to be only from your co-op, they can also be in surrounding neighborhoods. I dont know what the condition of the other apartment but that sounds weird.
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| Posted 9/22/06 11:21 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Showed our co-op today
you also have to think about the buyers being approved by the board.
ive read on here people have sold their co-ops more than once, but they buyers both times have been rejected by the board.
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| Posted 9/23/06 7:03 AM |
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MrsPorkChop
Twinning!!
Member since 5/05 9941 total posts
Name:
Missy
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Re: Showed our co-op today
go halfsies
170
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| Posted 9/23/06 8:23 AM |
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Stefanie
♥
Member since 5/05 23599 total posts
Name:
Stefanie
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Re: Update on our co-op
Updated in first post!!!
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| Posted 9/24/06 8:58 PM |
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MABLE03
I <3 SATC
Member since 6/06 4563 total posts
Name:
Fabulous
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Re: Update on our co-op
Congratulations!!!!!!!!!!!!!  
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| Posted 9/24/06 9:39 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Update on our co-op
congrats- I think you did the right thing!
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| Posted 9/24/06 11:09 PM |
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kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
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Re: Update on our co-op
congrats, I think you did the 100% right thing!!
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| Posted 9/24/06 11:44 PM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Update on our co-op
Congratulations!!
How exciting!!!
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| Posted 9/25/06 5:56 AM |
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ssbride05
:-)
Member since 5/05 2654 total posts
Name:
Jennifer
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Re: Update on our co-op
that's SOO exciting-Congratulations! 
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| Posted 9/25/06 8:11 AM |
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Myrockette
~*~*~*~*~*~*~
Member since 5/05 5632 total posts
Name:
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Re: Update on our co-op
congrats!
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| Posted 9/25/06 9:06 AM |
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NoStressMom
My Heart and Soul
Member since 5/05 11122 total posts
Name:
D
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Re: Update on our co-op
Good for you that is great news!! Congrats!!! Happy house hunting!!!
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| Posted 9/25/06 10:09 AM |
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Re: Update on our co-op
COngrats! How exciting!
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| Posted 9/25/06 1:33 PM |
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