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How much over asking should you go? MLPS

Hey everyone,

I’m sure this gets asked a billion times but I need to be the billion plus one because I have no one else to ask.

I live in the twin cities area (MN) and it seems like a really hot market out here. I recently walked through a house that, within my means, was beautiful. It is a ranch/rambler style home 1800 sq ft 4 bed, 2 bath built in the 50s with an updated kitchen, 2 updated full bathrooms, fully finished basement, dining room and large fenced backyard. This house is move in ready with no needed changes.

I’m trying to shrug off the hype of this house and come back to reality, the house is listed at 325k which my realtor said is to start a bidding war. They said to be above the rest ask 350k.

Is 25k asking price reasonable? I tried looking at comps but in my general area there really aren’t houses as updated and nice as it. The ones that are a little close go for 300-315k but they have a lot of work needed such as siding unfinished basement, roof etc.

Is 25k above asking normal?

submitted by /u/econmetric
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source https://www.reddit.com/r/RealEstate/comments/n26w5d/how_much_over_asking_should_you_go_mlps/
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