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LoW BaLL, aFtER LoW bAll, AfTeR LoW BaLl…

I realize WE ARE IN A BUYERS MARKET! How can you not. But let's get a bit more serious with our offers here people!

Now I do appreciate the fact that more of my listings are being shown and activity seems to be increasing here in the Treasure Valley of Idaho. I hope all of you are or will soon be experiencing the same.

But enough already with the ridiculous low ball offers.

As primarily a listing agent I strive to make sure that the listing price falls well in line with the comps (solds) for the area. I also take into consideration the motivation of my sellers, the condition of the home, and the market as well. Sometimes my sellers may not have a whole lot of room to negotiate due to their current circumstances or in some cases they may have plenty. I also council my clients not to take any offer as a direct insult but to think of it as a starting point and let the negotiations begin.

CASE & POINT...

What I don't get is when you get an offer that is 20,000 below asking price and the buyers want their closing costs to be paid by the seller. They also want the Refrigerator, Washer, Dryer and the carpets to be cleaned even though we are giving a carpet allowance! There are no comps to even support that pricing. Just plain ridiculous! In questioning the agent in regards to the offer I find out that the buyer can only qualify for 5,000 more than the offer and that's it.

Why, Why, Why, would you bother showing a property that is clearly out of your buyer's price range and ability? This just doesn't make sense to me and is a waste of time. But, I do present the offer and counter to no avail.

This seems to be happening more and more and I for one am getting a little frustrated with the situation. I have recently had 3 of these types of offers over the past week and none of them have been accepted.

Posted by Meridian Idaho Real Estate - Donna Lueder on 07/25/2007 08:01 PM

Comments (83)

offers, low balls, comps, buyers, market

83 Comments on LoW BaLL, aFtER LoW bAll, AfTeR LoW BaLl…

JUL

2007

Many buyers no longer believe the comps, and therefore the buyers are the ones insisting on the low-ball offers. It's unfortunate, but what is happening all over the market.

I believe that buyers heard all the talk about a buyers market and believe all sellers are panic to sell and when their crazy low ball is not even countered they wake up or keep looking for someone that is desperate

I recently had one $50k under the asking price with $500 down on P&S. (on a home that is priced to sell!) Needless to say, sellers say "no way!"

Bob & Carolin... I know the buyers are the ones driving this I wish the media would stop giving advice to what they do not know all the information on.

Joe... Not everyone is in a panic, some just want fair market value... what a concept.

Lori... good for your sellers.... my biggest issue is having property shown to buyers that they can not possibly afford. 50K makes a huge difference on a mortgage payment.

Donna, I just had 2 buyers in a row who made very low offers on properties! They were both qualified -- they were qualified for more than the price range we were looking in. They were convinced that it is a buyer's market and the seller's should be grateful they even get offers. Both made extremely low offers after I educated, counseled ran CMA's (for present, 6 mos. past and 1 yr. past). They both told me I am out of touch with the current real estate market! I got one closed, the other fired me after negotiations on the property stalled -- he wanted me to pay the $5,000 difference between his top price and the sellers bottom price! They were both referring to one of the .com real estate sites and basing their offers on information obtained from that site instead of CMA's obtained from actual list and sold prices as well as days on market data provided by my local MLS.

I have had those same experiences lately and I do think buyer's are taking "buyer's market" to the extreme and the media just makes me mad! They are so one sided in their reporting of the real estate industy. I'm totally agree with you Donna about the media and your other thoughts too. Good post.

This is the market we are in folks...educate, educate educate!!! And when the education fails, try to throw that contract against the wall and see if it sticks.

Donna, congratulations on your featured post! When you figure out how to handle these low ball offers let me know! I have been in the real estate business for over 27 years and still haven't figured it out! Some Realtors and buyers have a lot of guts and won't hesitate to make any offer that suits them. Good luck to you and I look forward to getting together with you and Maria for lunch soon!

Hi Donna,

That's inexcusable! It's a waste of everyone's time. There may be some properties where one can get away with it and it get down to what the buyer can afford, but most sellers won't do it.

That's why I always ask for a lender's pre-approval letter if it's not attached to the offer.

Say what you want, low is better than none. And further, I've no control over what the buyer will do. After doing this a couple times I'll probably not work with them any longer, however.

But also, buyers have made offers that I thought too low and gotten back favorable response. So you just never know. When I'm a seller's agent I don't get personally insulted and don't advise my clients to, either. If they don't like the offer they can say "no" or counter. It's part of our job.

But I understand your frustration. Totally. By the way, like George I offer my congratultions. Keep it up.

Donna,

It's a frustrating market to say the least. Fortunately, I haven't run into crazy offers you outlined above.

Just this past week - my buyer made a reasonable offer to purchase a house that's been on the market since November - the seller's refused to accept the offer without any counter-offer. We made another reasonable offer to which the seller reduced closing cost by almost half. My client withdrew her offer. I'm not sure what this seller was thinking ... but he just lost a good contract.

I'm trying to work out a contract on a house I'm listing - it's been a battle getting him to reduce the price to meet the market - we received a contract today - and it's a full price offer with closing costs. I do hope my seller accepts this contract - I just took over this listing about a month ago, after it sat on the market since December!

It's a crazy market here in Virginia!

HIT a home run...when pitched a low ball offer...HERE'S HOW !! TURN THE TABLES...very simple...go visit the buyers home, rented or owned makes no differance. Please honor their "buyer Agency agreement" with the other Realtor. But when you see how the buyers live you get great amunition to hit their low ball out of the park...A HOME RUN every time...it's fun ..go be a home run slugger instead of a frustrated low ball batter.

Great points! Make sure you are getting a full commission if reasonable offers are accepted. When the market turns, sellers will be asking for a lower commissions right and left.

It's really tough when you have buyers who want to make a low-ball offer, just to see if they can get away with it. If you, as the buyer's agent are too adamant about keeping closer to the market value, the buyers might construe that as trying to get a higher commission. My buyers recently offered 5% lower than asking price, expecting a counter, but got their offer accepted "as is". You just never know.

Sandy

Hi If you were down here in Florida trying to sell your listings you would be looking at any offer ,there is so much inventory and sellers are very anxious to receive any feedback,hopefully you wont feel the pinch....

I certainly do hear what you are saying. I, as primarily a buyer's rep, have been put into the position of giving some offers I'd rather not give. However, my job is to educate and advise, but bottom line is - I have to present all offers. I don't like doing it, but in this market, at least in my area, there are people that are dealing with the banks to allow a short sale, and in those cases, my buyers, unfortunately, go for the jugular. I have to preface those kinds of offers with a "don't shoot the messanger" attitude! These are buyers that ARE qualified, they just want the best deal possible. I am sorry if you've been stuck with these yourself! I hope that we don't have this scenario for long!

I agree with those who blame the media, especially the printed press. I also see parents of first time home buyers (who haven't bought a home in 20 years) convince their kids that today's prices are way out of line (even after the recent correction). These same parents will want the moon when they list their own house. Oh well!

The media has a huge effect on the public believing that you can gets homes for alot less because the market "crashed".

Well that is not true... and more-so atleast in my market.... It;s not a buyers market ... and not a seller's market... my market has stabilized and is consistent. Equal buyer and seller flow.. at least in my opinion... I am writing right now on average 2-3 contacts a week and subsequently taking 2-3 listings a week... That too me means the playing field is even.....

When I do get the low ball offer I always ask the other agent to please supply me with the information and/or comps they used to get their number so I can justify it to my clients.... they usually don't exist and then you can determine the buyers true motivation.

These low ball offerers just throw out a lot of offers, expecting one will be accepted eventually. It's a numbers game for them and when they find that seller motivated (or is that desperate) enough, they will accept.

I enjoy trying to get a low ball offer accepted. Most of the time it's a process of making several offers before you find someone who really needs to get their home sold. I don't think there is anything wrong with trying to pay as little as possible for a home, no matter what the comps suggest. I've seen some sellers take a lot less than I ever would have expected.

If getting 5-10% or more off the asking price doesn't get you excited, then I think there is something wrong.

How can you blame the buyers when all they hear on television is the housing debacle?

I agree with Rick's statements about bringing along the parents. Sometimes that is the WORST thing in the world because the parents ALWAYS think they know more than the Realtors, even though we sell homes day in and day out.

I also know how time consuming low-ball offers can be especially when you KNOW its not going to come together. This happens all the time here in South Dakota too. In fact, a buyer just came in $25,000 low but the sellers took it because I think they were getting a bit desperate. My buyer was pretty stubborn though (engineer) and took a day or so longer to respond to the seller's counter offer. These same buyers paid their listing price for this home a year ago so I do feel bad that they are taking such a HUGE hit.

Gotta do what the clients say though!

I am seeing this all the time here in Grand Rapids Michigan as well.

I can understand the lowball offers but what I don't understand is the callus attitude. Buyers jump from house to house until they find someone willing to give in to their demands.

As primarily a listing agent myself, I would rather turn offers down all day long rather than not get any at all. Sometimes, what seems like a waste of time is a blessing in disguise. If the offer CLEARLY does not work for my client, we counter the best we can or reject... but we always say THANK YOU and agents continue to work hard to sell my listings.

I'm actually tinkering with the idea of working with "investors"...

you've just got to feel them out and see who actually knows what he/she is doing. buyer rep them and start drawing up their offers - it's a numbers game to them. the more offers, the more likely that they'll get a deal sooner or later.

thoughts?

Plain and simple, too much inventory, not enough buyers and too many talking heads on TV telling the buyers they are in the drivers seat! The sad commentary is that we can be expecting this type of market for at least the next 12 months!!!

I have two thoughts on this post:

1. Always counter, even if it's only a few $ less. Keep the ball in the air, you just never know what the next round will bring. Don't take any offer personally. The offer is all about the buyer's drama, nothing to do with you or the sellers.

2. Hope that Lindsey and Paris continue to doing stupid things, it takes the media attention off of Real Estate and back on some other propaganda that is spun to sell advertising. (I'm rolling my eyes 8-) ).

Congrats on your star!

I can completely relate. I've gotten some offers in that i'm personally embarrassed to present. I honestly don't know what some of these buyers are thinking. Now, if i do get a low ball offer from an actual respectable buyer, that's different. For instance, i have one property in which we receive one offer for $20,000 under listing price, $5,000 dollar seller contribution, only $1,000 earnest money, and my seller to pay for all inspections and closing costs. Plus the buyer was had 100% financing. My client didn't even bother to counter, because he and i both new we'd be going back and forth to no avail. However, we also later received another offer which was $20,000 under, no seller contribution, $3,000 earnest money, and my seller still had to pay for most inspections and closing cost. However, the buyer was putting 20% down on their loan, and had an approval letter from an actual bank, not just a broker. Granted, my seller didn't flat out reject it, but just knowing this buyer had money, and was more than likely an A paper loan, it was impressive enough to start negotiating.

Donna,

There are some abusers around there who want to take full advantage of everything, great blog

Ray Saenz

Donna,

Sorry to hear about that. The media isn't helping your cause either. Even though we may well have more inventory here than we currently need prices are still going up and I'm not so sure most agents are telling their buyers that. Hopefully you get a good one soon, sounds likeyou deserve it.

Donna,

Sorry for the double post, wasn't logged in, I'll take my 25 now.

I am about to write an offer, the asking price is 799,000 and I will write is for 740,000. I know this is low, but the house is a white elephant, and some what over priced.

I know all of my buyers are in the low ball mode. I have been putting in offers for a client I am currently working with $50,000 under asking price and have yet to have any of them accepted. We need to educate our buyers and make them understand your local market and what is and is not a good deal and price. After being rejected over and over again I finally got through to the buyers we put in an offer $20,000 below list price and I believe the seller is willing to work with it because he doesn't feel offended as was the case with all the previous sellers. Practice your buyer objection responses and go in their and close em out and have them put in reasonable offers.

JUL

2007

In a hot jumping market we may have to write 6 or 7 offers to get one accepted. I a slow market we may have to deal with several low-ball offers to get one accepted. You have to remember we are the only way a buyer or seller can communicate with the other, thats what we get paid for. It's really no different than swap-meet only with a lot of paperwork. It's about the meeting of the minds but watch out, they may splatter when they meet.

Ralph

What's the problem with lowballs? If your sellers are truly uninterested in offers below $x, then tell them to set an absolute minimum below which you have their permission to reject all offers without presenting them.

Problem solved.

If your sellers won't do that then they're a lot more desperate than they're letting on.

Don't blame the lowballers, they're just being good consumers.

One more thing ... some of us think prices and volume will degenerate even further next year, so that seemingly ridiculous offer in '07 might look damn good 12 mos later, after another silent spring.

Stubborn sellers run the risk of riding the market all the way back down to the ground floor.

Hi,
I happen to agree with your particular take on this. If I carefully price the home correctly, I don't expect low ball offers and have been lucky, that I haven't had much of that. I can't imagine properties sitting around for 6 months either, but many do. Fix em up , price them right and get the new buyers in there to enjoy. Playing with them is not logical. If the sellers don't want the truth, I guess that is why there are so many others to pick from. Thankfully my sellers see my point of view and like the results.

Many buyers have been watching the media. I have had several come up to me and just say that they wanted to offer 10% below asking. When asked why they respond "that is what the media said to do".

I simply inform them that this is not always the case and that they should offer what THEY feel is a fair offer not what the news anchor tells them it might be.

With the sellers permission, In the private remarks section of the listing details, I state "At seller request, all low ball offers must have comps to support offer".

This usually weeds out these type of buyers. It also takes the buyers agent off the hook because they are letting their buyer know that it is at the sellers request that the comps be presented.

BUYERS AGENTS NEEDS TO EDUCATE THEIR BUYERS AND LET THEM KNOW THAT THIS IN NOT A GAME.

Remember your Fiduciary Duties to the Seller.

We had a price drop of $6200 and had a showing. We received an offer but it was $52,500 below our asking price they even want the pool cleaned the day of closing. This numb skull is asking for title and survey two weeks before closing and hasn't even seen a loan officer to get prequalified. His agent who has been in the business 30 years says we are unreasonable with our counter. He doesn't know how hard I had to work to get the sellers to even counter. This is the most ridiculous offer I have ever seen.

Unfortunately it seems that the going trend is for the seller to go from listing agent to listing agent until the property is sold. My experience has been that my potential sellers are still stuck on last year's market. They cancel their listing, go to another listing agent who prices the property high only bring it back on original range. You will get low ball offers because the buyers are demanding that from the market. As an agent that also represents buyers I am finding that buyers already have an idea of what they want to offer no matter what we as their agent tell them!!

I may hold the record. Last week I received an offer for $195,000 below asking price.

You are singing to the choir. I had the exact same experience. The agent was also a part-time appraiser that knew better. We countered and the agent said they were out of their price range but they were simply testing he water.

Donna,

This is very funny!

We wrote this three weeks ago.

Are "Low Ball" offers really working?

Does it ring a bell?:)

People are still stesting the water...agents and buyers...rumors of a "Buyers Market" spread quickly while the rumors about prices settling down and the market finishing a correction, do not.

WOW LOOK WHAT HAPPENS WHEN YOU GO TO BED EARLY... I HAVE GOT SOME CATCHING UP TO DO SO HERE GOES!

Judi, Amazing looks like some people think that they know it all after trolling the Internet. Congrats on the one that you got closed

Donna.... Love your name by the way, I feel the same way about the media too...

Andrew... I know, I know, educate, educate but sometimes they don't want to be educated.

George... Thanks I woke up and got a gold star who knew well obviously not me. 27 years, your my hero that is a lot of ups and downs I would guess. Time & place for lunch just say when and where.

Dan... I am with you on the pre-approval

Chris... Thank you as well. I present as well and encourage counters, It is ultimately our clients decisions

Rita, Thanks, and good luck with your offer my fingers are crossed for you

JT... GREAT IDEA! I love it!!!!

Doug... Thanks, I hear what your saying.

Sandy... You are absolutely right , you never know

Steve... Plenty of inventory here too. We look at all offers especially the first one and hope for the best outcome.

Liz... I hope the market turns too. We are seeing some light, it's a dim one but I'll take it

Rick... Don't get me started on the parents thing! Whole different blog

Desiree... good strategy I just might use that next time, hope you don't mind

Carol... True, True, True

Tim... I know what your saying, some sellers are in a "have to sell" situation and if your buyer gets them out of a bad place there is absolutely nothing wrong with that.

Donna, as long as you are doing everything you can to get eyeballs in the home and generate traffic, you're doing OK. The market's pendulum is still swinging and we'll all have to keep working to bring up those low offers and get the highest net we can for our sellers. But if I'm on the buyer's side.....

Keep having fun!

Susan... Yes, we do have to do what they say

Ethan, hang in there with the rest of us.

Michael... Attitude, yes sometimes we have to deal with that as well.

Sue.. Yes! I agree stay professional at all times no matter what you never know when you might have to work with that person again.

Thomas... Yes, it is a numbers game and the odds are eventually you will get something to stick but is that how you want to spend the majority of your time? I did this for a while too and found it was taking up too much of my time and taking time away from other clients.

Rick... I agree! As far as the media, all I hear now is Blah, Blah, Blah hopefully the general public will be tired of their broken record reporting on the Real Estate market.

Tracey.. Yes. I always counter as well. We do need to get back to what is important in the news Lindsay, Paris, Brittney the whole bunch of them. That was funny by the way

Joshua. way to keep plugging along, good luck to youl

Ray... Thanks for the compliment, have a good day.

Brian, Hey There! 25 courtesy of me! You should have lunch with George, Maria and myself when we get together next week. let me know.

Beth... Good luck let us know how it goes.

Adrian... I like the objection response thing, good advice.

Ralph & Susan... Ew ugly visual, I know what your saying.

Robert... That's an idea, I will ask.

William... 100% in agreement with you.

Joe... so true!

Chuck... Thank you Great Advice!

Randy... Good luck with that one, sounds a little weak.

Marie... Agent jumping, we see it too. that unfortunately is not the problem

Randy, Holy %$%$ you just might!

Dionne, Testing the water, fishing, we've heard em all

I think we are all so tired of the extreme low ball offer, it infuriates your client and in the end it's usually a waste of everyones time. The media is also to blame, their doom and gloom outlook really has an affect in the publics view of market conditions. We need some articles that turn this market around.

Buyers are scared too. The market is still adjusting downward. They don't want to pay too much for a property & watch it continue to fall in value.

I prepare my sellers for these type of offers. Sure, some are completely out of line but honestly you can't blame the buyers for trying - in this market.

Scott... I haven't had a chance to read it yet, but I will, seems to be a popular subject.

Sally & David.. Yes, that seems to be the case everywhere.

Steve... Yes, it does depend on which side your on but have the ammunition to back it up.

Carrie.... I too am tired of the Doom & gloom media outlook If you find one of those much needed articles let me know.

Susan.. Valid point! I see what your saying.

The low ball offers are coming because several sellers are accepting them. Home listed last years for 287K sold for 208K. That was the only offer the seller received. Home last month listed for 330K, seller accepted 232K. Some sellers will reject a low ball offer but some are accepting them.

What a coincidence..I was just going to write a section on the very same topic....."Low Ballers!" at what point do you say "enough is enough" ....one of our agents is on his 10th contract with the same buyer. Unbelievably, some of the offers have finally gotten put together after weeks of negotiating. We try to prepare our sellers for low offers and encourage them not to "get an attitude" but to counter back at least once to see if the buyer is truly interested. However, when an offer comes in 30% to 40% less than the asking price...it is a little ridiculous...this is even with our own buyer, who I thought "understood" the purchasing procedure. So....do we take it as an insult that the buyer thinks that we are not doing our job professionally to know how to price a home or do we just accept that "it's just the way it is!"

Karen

Laura, wow those are real far apart from original asking price. I hope this does not continue.

Karen... No matter how much we prepare our seller's it still comes first as excitement for the offer, then shock when they hear what the offer is. I also always encourage at least one counter to see what the interest level is.

Sometimes we agents have to get out of the way and LET our clients negotiate from the heart. I had to do that several weeks ago when one of my sellers got an extremely low offer ($50,000 below list price plus seller-funded closing costs). Sue, they wanted their home sold MORE than they wanted a fair price. They were VERY HAPPY at closing in spite of settling for $360,000 on a $400,000 home.

Again, a few weeks ago, one of my buyers insisted on writing one of those insulting offers, and they ended up just $2,000 more than the original offer amount. The listing agent said she "just had to get out of the seller's way". Again, the sellers wanted their home sold more than they wanted a fair price.

Both of these cases are a direct reflection of the Buyer's Market we have today, and I don't see it changing any time soon. I don't mean to sound preachy, but this market is no time for our outrage over low offers to interfere with our clients' goals.

If an offer comes in to me and it is at least 90% of list price, then I don't consider it a low ball. That's a reasonable place to start, particularly if homes are selling at an average of 95% - 96% to list price. So, that could be $20,000 under list price! I guess it depends upon what the list price is...

I have a few clients now like that. It doesn't matter what I say, they are not listening to me because someone somewhere told them something about it being a bad market.

It is a catch-22 for a buyer's agent. Do I write a couple of Low Ball offers that get rejected (like the one $15,000 under asking that got rejected today) until they finally figure it out or do I refuse to write the offer and turn them away into the arms of another Realtor willing to put up with it?

I try to only show them what they are approved for, but continually they drive by a sign and want to see it. I feel obligated to show it to them because you really never know what the seller will take. So I show and I show till an offer works, don't you know!

I have a young 20 something first time buyer who is doing the low ball thing with property at the lower end. I keep telling him there are more buyers in that price point and that sellers here aren't as motivated to sell as he is thinking(or the news portrays). I'm thinking after he loses on a couple and sees the light he will finally change. He's been off by about $5000 which I told him equals only an extra $30/month in payment and then he still walks away.

I'm still blaming the media for giving buyers the impression that the market is worse than it truly is. The buyers are so afraid of overpaying, that they're under-offering.

JUL

2007

Donna,

The pendulum has swung the other way now. A few years ago it was the seller who was running the show, staring down at three or four offers on the table and then picking the highest one. Now it's the buyer's turn. He's going to the other extreme, unfortunately, low-balling big time. Making multiple offers and eventually getting someone to accept his bid.

Margaret... You are correct it is the seller ultimatley who chooses what to accept. I present any and all no matter what they are.

Kelly... Yes it does depend on the listing price in my case it was 17% below asking price with an additional 5K in buyers closing costs... He was looking at properties that he could not possibly be approved for.

Stacey... No one never knows what the seller is willing to accept, just remember to spend your time wisely

Julie.... It is great that you are showing them an example of what the difference is on a monthly basis most of the time this turns the light bulb on.

Lisa... I agree with you on the media thing, well said.

Esko... Yes, eventually something will stick but with me and the majority of my clients who are in the market to buy when you find the house you WANT it is more of an emotional thing and they have to be pleased with the house they end up with granted they are not an investor.

Donna, we are seeing it here as well. I think that people are hoping to find that distress sale before it officially becomes a distress sale. Does that make sense?

AUG

2007

Sellers are just plain greedy. If they continue to hold out on the most expensive price they can get just to fill their greedy pockets, and prices continue to plunge, they are going to lose even more money because they will continue to hold out for 2006 prices. In 6 months, they will have wished they took the "lowball" offer. Wake up sellers, the market WILL fall, and if you continue to be greedy, holding out for the most highest price, you WILL see the market around you drop, and you will lose even MORE money. It does not pay to be greedy, and you will learn after you lose even more money in 6 months! Be realistic about your prices, demand is dropping, and supply is only growing. I guarantee greedy people only will lose more money!

AUG

2007

If the house is priced in line with recent sales, the buyers should be realistic if they really want the house. A good agent can do comps for them and help negotiate.The last time we had such a market I had buyers who waited for prices to come down further, and suddenly the prices went up and they lost out on buyers market. They ended up buying a similar house for 40k more after 6 months.. If you are an investor you can wait and if prices go up wait for the next time it comes down or invest in stock market.

AUG

2007

I'm refusing to work with investors for that very same reason... They brought a new meaning to lowball! Because a property is distressed they want it for next to nothing!

John... yes, It makes perfect sense, seeing it here too.

Gina... Yes I agree if the house is priced accordingly we never know what the market is going to do.

Diane... I hear you on that one. I just fired one of my sellers for the same reason, Investor not willing to do anything to the property or purchase price. Complete waist of time & money not to mention the bad advertising I was getting by having my name associated with the overpriced, run down, unrealistic listing.

AUG

2007

Donna,

Sorry about that. What was I thinking? I need to stop staying up til early morning reading these blogs! You are right. That is not the problem. Is it possible that the media is majorly contributing to the mentality of these buyers? Buyers are under the impression that there are a "lots of foreclosures" and that the market is "slow". They conclude that any offer is a good offer. The press paints a vivid picture of how desperate banks, realtors and sellers are. The sad result: a lowball offer.

AUG

2007

Donna what a great post. I have no idea why agents would waste everyone's time showing a house that is clearly out of their buyers financial grasp. Just because houses are moving a little slower does not mean a seller is going to give it away.

AUG

2007

Marie... First of all get some sleep... secondly, not everyone is in the same perdicamate that the media has made it seem. Motivation is the key,

Ashley... Thank you for having my back on this one. This give away hurts all of us even the homeowners who are not even in the market to sell.

JAN

Hey enough with crying over lowball offers. I think all buyers should offer 50% off the asking price. No one has money anyway. Even if you have a good job and good credit it's not promise tommorrow. Many homes are already overprice. I say sell the home for what you paid for it. If you only paid 75k don't charge me 200k 10 years later. IT'S A BUYERS MARKET EVERYONE LOWBALL. If you don't lowball the prices will keep going up. As for agents you can't win all the time..... good luck anyway.. If you are a buyer wait homes will DROP MORE....

APR

Wow, this is interesting, I don't see you guys complaining when the market is booming and you asked people to pay above list price, which is sometimes above what they can afford or what the market price should realistically be at.

You get commissions either way (though a little lower than you expect), so what is there to be embarassed about??

Personally, I don't expect property value to rebound in the next 5 years. Sellers who are holding out are simply prolonging the recession. We will see real recovery only when true property value vs true income makes sense. No need to feel remorse/embarassed at sellers as they are fully aware that they are speculating when they bought the place. Would you feel the same for stock market investor?

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