Planning/Looking at a Home...

I've been looking at maybe selling my house (or possibly renting) and upgrading. My neighbor has a 2100 sq ft brick home with a full basement and large attached garage.
His asking price is $269,500. So I went about a month ago to talk to him and look at the house. We went through and I love it. We sat down and he immediately dropped the price to $250,000. I took my wife back to look about a week later and she liked it but thought the kitchen should be bigger, yada, yada.
Anyway, we have been discussing the idea and looking at other houses at the same time. So, here is my problem, I like the home and think it is worth the asking price but don't wanna pay that much. It is a super nice home but sorta in the middle of nowhere (I like that). Does anybody have any advice?
My plan is buying 2 years from now and this fella will be retiring in 2 years and moving to Florida (he already purchased a vacation home). Our timeframe is golden so we have one idea in common to start with.
More...This home has been on the market for over 2 years and still there so the location is killing it. What do you guys think I should do? Should I offer $150 grand or so and wait?
Let's see what you think...

You should get it appraised. And you know what to offer from that.Good luck

Yeh, I just really hate to pay for an appraisal until I get closer on price. I think I'll wait a couple months and then get back in touch. The seller is super mice and would be great to deal with.

A home is worth what a willing buyer that is under no pressure is willing to pay.........get a professional appraisal.........but if you are thinking about buying 2 yrs from now home values could swing wildly...both ways...

Yeh, the seller wants to put a deal together so he knows it'll be sold. It really just gives me more leverage either way. I would love to have the home but I also love a good deal...

Have your realtor run some comps for you on the particular home you are looking at and also ask them to set you up with automatic emails from their local multiple listing service (MLS). You will get emails for listings that fit the criteria you want to compare and you'll get a feel for what the market is doing in your neighborhood/area.

And, you don't have to make a lot of phone calls or drive around wasting gas :elefant:

Put a realtor to work :rock: :rock: :rock:

Actually, I found this home on my own. I haven't talked to a realtor yet.