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Woke up to an email with the "We want to write an offer" as the subject ...Oh yahoo...way to start the day...better than a pot full of caffeine to get your heart started and the energy flowing....did the Happy Dance quickly and CLICKED open the mail.....
The media has done a wonderful job of making everyone believe that every market in the country has "Let's Make a Deal" pricing. Of course...every Seller or better yet, Lender, will be thrilled to have an offer at whatever number you pluck from thin air. As a degreed journalist, it pains me to know the path of destruction that this plethora of news has wielded throughout the national real estate landscape.
Wisconsin is a great place to live....we never have the highs real estate experiences in pricing as coastal states do but, for the most part, we do not have the drastic declines experienced in these areas either. We are the middle of the midwest...great parks, culture, many beautiful well kept homes, outstanding schools, friendly neighborhoods....a great place to call home. Sorry....it's not FREE....it's the land of the Free....and if Wisconsin is where you think you may want to call home...Call the
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13 Comments on This is the Land OF the Free...Not the Land IS Free !
Comps are comps and numbers don't lie. Some of the buyers out there are unrealistic and downright cruel.
The media has certainly done all that they can to damage the housing market in many areas that have not experienced the downslide that the bubble markets have felt. Unfortunately, with the advent of the internet, too many people assume that what applies to one area of the country applies everywhere. Any article you read on national home prices also states that lenders are very strict, and that large down payments and high credit scores are required to get a loan. The last time I looked, FHA was still out there with 3.5% down and still making loans to borrowers with marginal credit.
Realistic gets it sold....dreams of prices that won't happen on both sides of the transaction won't help any market.
It does make us have to educate the buyer a little more when I feel they need educating I pull comps around the homes we are looking at to show the difference between asking and selling.
You sound like you nailed this right on the head. And the other agent should have been more in tune with what the market will bear, and what it will not!
Neither of you look like Monty Hall to me...........what are these people thinking? Oh wait, they aren't. Never mind! Damn the media!
When this buyer began making "Let's make a deal noises" I should him the list to sale ratios in the neighborhood...but of course...he knows better....and to "cement the thought"....his wife agreed !
Good morning, Sally....it's a sign of the times....this is happening everywhere.....usually, the buyers realize that the media nonsense that they have been listening to does not apply to every property.....
Some people learn quickly and others the hard way after writing numerous offers that are rejected or countered..these are the same people like some Sellers who say "I am not in a hurry"....good thing...they will be eternal tenants !
Good morning Sally and David. We live in a difficult time in real estate, it is neither easy or righteous, but it is the market we have. I have found this in my state as well and yet there are other areas that do price at 40-50% above real value because they are second home markets and appeal to the affluent. Hang in.
Yikes, that stinks....Hopefully they will become more realistic as the process continues? If not, adios!!!
We'll see...pricing above the market means you are looking for a cash buyer who does not want/need an appraisal....10's of thousands below CURRENT market...not....not often...
Great title Sally! LOL
The terms of the offer are awesome, you seller should sign such amazing offer PRONTO!!