We know we've been "spoiled" by low gas prices as compared to Europe. We need to get our public transportation back to being a priority. In Germany I visited: Dortmund (Buffalo, NY's sister city)I lived with a family for a month when I was 18, we visited all over the area close to Dortmund, Berlin in 1977, Hamburg - been there 3 times, Munich (took the train from Munich to Hamburg), Frankfurt ... I think that's it. It's been many years, I need to visit again. It's one of my favorite countries. I'll need to look at a map to see where you are.

we wern't impressed by our builder "discounts". I would definately shop around. In some cases we went with the builder supplier (e.g. lighting, cabinets) but in other cases we found a better local supplier and now the builder has switched over to them (e.g.granite). In some cases we purchased items on line and gave them to the builder (e.g. sinks). In the case of the lighting, we did not get the absolute best price on the fixtures (although the prices were good and dicounted off suggested retail) BUT we did get a "free" design and that was well worth the small premium on the fixtures. We could have saved a few dollars by puchasing the same lights on-line but we did have some broken fixtures on delivery (replaced quickly) and the lighting in our house is fantastic. There is something to be said for having a local supplier who can quickly get you parts or replace an item if there are problems. But you have to weigh that against what you are getting locally and any savings you can get on line. For example, we purchased our faucets locally using the builder's plumbing supplier but we bought the stainless steel sinks on line. The markup on SS was unbelievable (2 grand for a Kohler kitchen sink with the "discount" - are they nuts!). I think we paid 1 grand for 4 SS sinks - 16 gauage - they are awesome and we got that tip from GW. So Scrutinize every line item and do not assume that every item on the list is at the best discount you can get. Toilets were another one - we bought Toto's on-line and got a very good deal. The appliance purchase was amazing. Builder told us that his guy had the very best prices. BS - we saved over 4 grand by buying appliances from a local store who has been around for decades and their price included installation!. Plus we got 0% financing on the stuff which we just finished paying off - nice to have that off the mortgage. I don't think I would buy appliances on-line - research that approach and definately don't be affraid to check local stores and tell them the best prices you can get on line - see if they will at least match it or throw in installation. Shop til you drop. Its your money that they want to take. PS - assume that EVERY builder "allowance" is crap - pulled out of the air. Validate every allowance against actual bids from suppliers for items that are at the quality level you expect. Hopefully you can do this before you sign the contract. If we had only budgeted what our builder "allowed", we would have no lights and probably have plywood for countertops.

>Smart potential buyers will do their research in public records to determine how much was owed when the house was foreclosed on to figure out how much wiggle room there is between asking price and what the bank needs to get to break even. Sorry, but I don't follow this. In my area, there is no correlation between previous sale price and what the bank is willing to take. For instance, I've been looking mostly at townhouses in a specific complex. The last short sale that went through, the previous owner had paid 230K and the bank had it listed at 59K, which is about right. Currently there are two short sales: one where the last sale was 130K and the bank has it listed at 75K (been languishing for months at that price), and a newly listed one where the last sale was 235K and the bank has it listed at 90K. Actual REO/Foreclosure prices have nothing to do with previous sale prices, as far as I can see. I've also been looking at a little cottage that is currently on the market for 40K, foreclosed owner paid 499K at the height of the frenzy. So, for the OP, around here short sale prices tend to be optimistically high-ish, partly because the current owner could be on the hook for the difference between the loan balance and the sale price, but once they get into foreclosure the price is whatever whoever decides it should be to unload it quick. I don't think the realtors have much to say about this--it appears to be set from some corporate central office. Now that we're in the valley of fewer listings due to the robo-signing thing last year, everyone is asking much more. I expect that once the units held up by that start flooding back into the market, prices will drop again. But if you're looking for pricing logic, well, at least around here there isn't much.

If you own less than 2 years (NJ) you have to pay tax on the profit - lower selling price then would mean less taxes in that case. Also if a house here is over 1.0 Million (or within 10-15% of that) no one wants to pay the 1% mansion tax (if it is 1.0 Million or more) - sort of like throwing $10,000 out the window - neither seller nor buyer benefits. In that case buyers or sellers might offer to pay closing costs, real estate transfer tax or agent commissions - with the lower selling price.