5 listings...4 LOW-BALL offers in the last 3 weeks...NO deals!

Thankfully I deal mostly with buyers and only take listings that are realisic. I still see a little of it but explain to my sellers it is probably going to happen. I do not advise my clients against low balling but do not condone 'stupid' offers.

Maybe your $600 firm offer is the top the buyers can afford and get a mortgage for but love the house. How much is it costing your seller to keep the house every month? If mortgage, insurance, taxes, HOA fees, and etc are over $7K they may really want to think another offer may take a year or more and may be lower.

My buyers are closing on a $219K condo next month in the 150s. Granted your examples are at your extreme and so are mine. What we all have to remember is there are no 'prices' on real estate like on the gas pump. The price is only what a buyer is willing to pay and the seller willing to take. There is still a lot of inventory out there and if you seller does not want the buyers money- someone does.

No we just closed one slightly above list price and another right at least price.  I guess it depends on the area.  Our inventory is low right now.

Most of the buyers I work with are concerned that prices may continue to fall (as am I). I will generally ask where thay think prices will be in a year or two and suggest that they try to settle at that point. ie if todays value is $225 and we expect another 15% fall before we hit bottom, we wont pay any more than about $190, much like your buyer.

John Rakoci has it right...if your seller dosent want this buyers money..there is one that does.

Hi, Patrick. Oh no, buddy, you're NOT alone! I've written 10 offers in the past two months and not one has closed. One was a marital thing, two were low appraisals but eight were just low offers where the seller said, "NO." Buyers think that "in this market," they'll just make and offer see what happens...and maybe they'll get lucky."