Home buyers have been more than a little blind-sided lately.
They find a great home. Deliberate for a time, and decide to purchase the property. Even though the home was exactly what they were looking for - and they were advised the home was priced WELL under market value, they decide to lowball the offer.
After all, who pays list price in THIS market?
They submit the offer, dreaming of the grateful seller's response.
Only to be told there were three other offers, and theirs was rejected. What happened to the desperate bank or seller - and where did all these buyers come from?
The general media has done a marvelous job at making everyone believe that nothing is selling. While the market certainly has issues, one fact remains - a good home, priced well, SELLS. And even in this market, it sells quickly.
A buyers agent provides a wealth of information. People love to hear that a home is overpriced, and we have the numbers to support making a low offer. But when we inform clients that the home is actually UNDER priced, it is met with skepticism. Is that possible in this market?
Yes, it is. I have seen properties listed in the morning, and under contract a few hours later. Yes, even in this market. There are alot of folks looking for a bargain - and when it surfaces, they are ready to move.
I cannot stress it enough - Learn the reality of the market value and dont be afraid to offer full list - if the comps on a property are $300K, and the list price is $200K, a $150K offer won't cut it. Someone else is more than willing to offer $200K, "scoop" everyone else, and take the instant equity. Happily. A home priced at 2/3 of the market value is worth every penny of the list price.
Yes, many homes are languishing on the market. But the GREAT Deals? They go fast. Don't let the hype fool you out of your perfect home. Work with a buyers agency experienced in researching, finding, and scoring our customers the great deals. Even if it means paying full list price. And loving every minute of it.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment