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Seattle Buyer's...Why are You NOW Interested in my PENDING Listing?

Recently another Seattle Buyer's Agent called me, the Seattle Listing Agent, if my now Pending listing looks solid, or if there might be a chance that the transaction could fail?

*Sigh*

So the question I have to ask the Buyer's Agents is why NOW?

The house has been on the market for months, with no interest, so where were these interested Seattle Home Buyers? I know our Seattle Real Estate Market is picking up for spring, but still, I have received 3 of these calls in the past few weeks. I got the same answer from all 3 Buyer's Agents, their Buyers had been sitting on the fence about making an offer. That waiting while deciding what to do, caused them to lose their opportunity to make an offer when someone else beat them to it.

It is HARD to decide to make an offer. Especially if as a Buyer, you are wondering if you should wait and see if the listed price might be lowered...or if home prices in general go down.

Since the house had been on the market for a few months, my Seller Clients were considering lowering the price (again) when we got the offer. While we hadn't lowered it yet, the Buyer was able to easily get an accepted offer at a lower than the listed price, since a lower price was ALREADY being considered by my Seller Clients.

So a tip for you Buyers considering buying a Seattle home, make an offer! If the house has been on the market for while, the Sellers may be willing to consider your less (way less?) than listed offer, it's called negotiating!

As hard as it is to make the decision to make an offer on a house that you are interested in...think of how you will feel if someone makes an offer on what could have been YOUR home?

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I Love Seattle! For more information about Seattle and Seattle Real Estate, please contact:

Deborah Burns

206-618-0565

BRIO Realty

Deborah.Burns.Seattle@gmail.com

Please visit my blogs at:

Deborah's Seattle Homes

Seattle's Urban Villages

I am also a contributor to:

Seattle's Rain City Guide

If you are Relocating to Seattle and thinking of Buying a Seattle Home, please contact me. As a Relocation Specialist I would be happy to help you make Seattle your new home.

If you are already living in Seattle, and thinking of Buying or Selling your Seattle Home, I would be happy to meet, and talk with you about the service I provide my clients as a Seattle Real Estate Agent.

Posted by Deborah Burns ~ Seattle Real Estate Agent on 02/26/2008 11:23 PM

Comments (12)

tips for buyers

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12 Comments on Seattle Buyer's...Why are You NOW Interested in my PENDING Listing?

FEB

2008

Doesn't that always happen? It is frustrating! Good advice!

Deborah...Where have they been? With all the other buyers waiting for the market to bottom out. When will they know it has? When it is on the way up and then they will feel they missed their opportunity.

The answer I hear to the question you asked, think of how you will feel if someone makes an offer on what could have been YOUR home? is "Then it was not meant to be." That's a pretty passive response. If I'm looking for a house for myself I prefer to be more proactive. I find it difficult to understand the passiveness.

Good post.

Kathleen

P.S. Better that they are asking about the Pendings than no interest at all in any of your listings. Good luck.

FEB

2008

I had clients "considering" making an offer for weeks, and I told them several times it was a great buy and would likely sell soon. They wanted to look at it again the next Saturday, and it sold on Friday for 70k under asking price. Then they asked me "how do we submit our offer?" I had to say "you don't" it went straight to pending with inspection waived, it was gone.

This situation is happening here in Phoenix as well. Where were they before a house went pending?

Hi Deborah..great post.All Buyers are Comparative shoppers and a long term listing tells them it's over priced and maybe there is something wrong with the house. "Is no one else wants it why should we buy it."

Lowering the Price is just bring the price in line to were it should be..Buyers will act when you price it right..get two buyers making an offer and now you have a bidding war. It's aways about Pricing.

Cheers

Hi Courtney, I thought it was oddly funny, because it was the best home of it's type in the area, and at the lowest price...why the wait?

Hi Kathleen, I was glad of the interest because it helps to see that after months of almost no showings (or interest in that neighborhood - a well regarded one) that buyers are beginning to enter the spring market.

Hi Michael, I am sorry to hear that your buyer clients did not listen to your advice...and I sure they are sorry too! It is hard to make the decision to make an offer when the media makes it sound scary, of course that is when the buyers who can make the decision, can make a good one.

Hi Bob & Caroline, LOL, maybe that means that your market is beginning to reverse itself!

Hi Fred, yes it is about price, the market in that area almost totally froze up with the mortgage mess, that's why my clients house was the best buy in the area, best condition and lowest price...it was just a matter of time...for the buyers to return!

Deborah - Great advice, buyers need to get off the fence. Such a scenario will be happening more frequently since the mortgage rates are really coming down.

Hi Jennifer, I think that as the weather warms up, so will the buyers!

Deborah, I believe some people are just waiting and hoping the prices will come down even more--and losing out on a home they may love. What a shame.

MAR

2008

Deborah, I started to get calls like that on a great condo that I'd listed. It didn't attract offers in he range the seller wanted, and they decided to rent it out. As soon as the tenants signed the lease, my phone started to ring off the hook. Made me crazy!

Hi Carol, yes that is part of the reason. Also some buyers are lulled into acting slow because there is quite a bit on the market for a longer time and the buyers begin to think they have lots of time to think about it. Unfortunately, on the buyers side we never know if someone else is also considering the house until the house has an offer on it...too late!

Hi Patricia, Oh, I feel for you! Argh!

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