Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

10
Posts
4
Votes

Condo unit priced higher than comps, what should I offer?

Jennifer Creager
Posted

We are looking at STR condos in Hawaii, and really like a 1 bed/1 bath partial ocean view unit recently remodeled, offered for 500K. The agent pulled comps from the same resort, and the 6 1 bed/1 bath units sold in the past year sold for an average of 400K. The one unit that matches the same square footage and same view sold for 409K. The listing agent says the resort just paid an assessment and the unit was just remodeled, and the owner wants to recoup those costs. I get it, but pricing the unit 100K over other units does not seem sustainable. I was considering offering 450K, but even that seems high. There is no rental history available as the resort just completed construction, according to the listing agent, but I was able to search listings in VRBO to see that it would pencil out at 450K. Advice?

Loading replies...