I am putting an offer in on a local home this week. I am going to offer a good 15% below asking and hoping to get a circa 2005 price on the listing. :oops:
I am putting an offer in on a local home this week. I am going to offer a good 15% below asking and hoping to get a circa 2005 price on the listing. :oops:
It is a buyers market...If the people want to sell bad enough I am guessing they are getting precious few offers....
In my experience, that is far from a universal truth. I have been watching for a very specific type of house in a couple neighborhoods for the last year. I finally found one I loved last month and figured, WTF - I'll make an offer. Full price, day it went on. It sold for 5% over - and that was the starting bid of the competitive offer - no escalation! Another one came on the next week that I wanted to check out - sold before I even had a chance to look at it.
It sounds like Realtor spin, but my experience is that well-priced, attractive properties are still selling quickly. Perhaps not for what they would have a year ago - but people aren't entertaining 15% off offers the week a property comes on the market.
That said, most of the stuff that is on the market is dreck that has been there forever. Look for the desperate in the 100+ days listings.
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Vega
It is a buyers market...If the people want to sell bad enough I am guessing they are getting precious few offers....
In my experience, that is far from a universal truth. I have been watching for a very specific type of house in a couple neighborhoods for the last year. I finally found one I loved last month and figured, WTF - I'll make an offer. Full price, day it went on. It sold for 5% over - and that was the starting bid of the competitive offer - no escalation! Another one came on the next week that I wanted to check out - sold before I even had a chance to look at it.
It sounds like Realtor spin, but my experience is that well-priced, attractive properties are still selling quickly. Perhaps not for what they would have a year ago - but people aren't entertaining 15% off offers the week a property comes on the market.
That said, most of the stuff that is on the market is dreck that has been there forever. Look for the desperate in the 100+ days listings.