Special offer

Who says it's a buyers market?

By
Real Estate Agent with Prudential Verani Realty

I was just involed in a multiple offer situation and unfortunately, my client did not have the acceptable offer.  He is in a back up position but it really shows that if a seller has aggressively priced their home, they will get acceptable offers.  It also begs the question, "Is this a buyers market?".  Not for the buyers that lost out on this house and many others that are priced to really sell!  Contrary to many reports we are hearing on the news, there are buyers out there ready, willing and able to buy and there isn't a heck of a lot of inventory out there for them.  Now remember, these buyers are ready, willing and able but they are also smart.  They know what homes are selling for and aren't willing to overpay.  They will wait for the right one to come along, perhaps it is your house.  Perhaps you have been waiting for good news to list?  Well I am here to tell you that good news, it is time to get the house on the market.  If you are already listed, perhaps it is time for a change in price or maybe you need to do some minor repairs or paint?  Do it, take new pictures and get buyers in there.  Remember to always have your home ready to show to capitalize on those buyers that drive by and want to get in right away!  Call me if you need to list, I am happy to give you a CMA with an aggresive pricing strategy. 

 

Amie Varney

Prudential Verani Realty

Epping, NH

603-679-5654 x3920 office

603-490-8799 cell 

Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:18 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:18 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:18 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:18 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:18 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:18 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:18 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:18 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:19 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:19 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:19 AM
Summit Realty Group
Summit Realty Group- The Future of Real Estate Today! - Highlands Ranch, CO

 

That is suprising, but in Colorado and in California the market is a buyers market

Apr 06, 2008 04:20 AM
Joe Virnig
RE/MAX Gold Coast REALTORS, Ventura County, California - Ventura, CA
No Ordinary Joe
I guess anything worth saying is worth repeating...a lot!  We're seeing the same thing with well priced properties.  There is tremendous pent up demand.
Apr 06, 2008 04:46 AM
Monika McGillicuddy
Berkshire Hathaway HomeServices Verani Realty - Hampstead, NH
Southern NH & the Seacoast Area

That is some comment string! AR is having tech problems so I'm sure that is why that comment repeated it's self.

Multi-offers are the norm for me.

Apr 06, 2008 11:06 AM
Amie Varney
Prudential Verani Realty - Epping, NH
Thanks for the comments, it is supposedly a buyers market here in NH and until yesterday I agreed with that but for first time homebuyers, the pickins are slim in some towns.
Apr 06, 2008 11:31 AM
Judy Tuscano
Prudential Verani Realty - Nottingham, NH
NH Real Estate Professional
Amie, Well put if the sellers price their home aggressively the buyers will come to buy.
Apr 07, 2008 12:07 PM
Lois Merrithew
Lloyd & Day Real Estate - Tamworth, NH
There are buyers out there.  I came in first with an offer and another offer came in after, but mine had been accepted verbally and was honored.  So this does show that there are buyers if properties are well priced or unique.  Up here in Carroll County, everything is unique - very rarely do you find a new development with all houses similar.  There are a few, but most sales are for older homes.
Apr 09, 2008 04:09 AM
Anonymous
Home Buyer

Yeah, I keep hearing how it's a "buyer's market" - but I have repeatedly run into selling games. REO's listed at a low price, then lowering the price a week later - I am ready to make an offer, and the listing agent says there are multiple offers - then the listing stays up for  weeks or months more. Or... after a short sale is on the market for 2 months, the price is reduced - when I'm ready to put in my offer, Oh!, the listing agent has already accepted an offer - and then the listing remains active.... WTF! A very frustrating buyer's market! Sheesh! And I have multiple pre-approvals with an 800 FICO score!

Jul 04, 2008 04:45 PM
#27
Amie Varney
Prudential Verani Realty - Epping, NH

Dear Home Buyer,

Your situation sounds frustrating, I can tell you that I have had several customers with similar situations.  REO listings are most times priced aggresively and you really need to be looking at the houses immediately after they are on the market.  You won't have much time to think things over many times if you want to be the one to get the house and many times there will be multiple offers.  You need an agent that is working on your behalf and also has experience with bank owned to advise you, if you are looking in NH and don't have representation, call me.

Short sales are a bit of a different story.  They are usually priced well, however, you will have to wait for weeks, sometimes longer for either one or two (depending on how many mortgages there are) banks to sign off on your offer.  

If the listing remains active in MLS it may be because the banks have not signed off on the offer or it can many times (on bank owned) be in MLS as contingent too.  This often times will happen that the buyers have had home inspection and there are issues that need to be addressed prior to closing.  Most times, anything that costs more than $500, the bank will require it to get bids and then they have to review them and approve them.  Buyers of these homes sometimes wait a long time for these issues to get resolved. 

If you have additional questions or assistance, give me a call and we can chat.  Thanks so much for your comment and have a great day!    

Jul 05, 2008 01:36 AM
Anonymous
Home Buyer

Thanks Amie, I appreciate that! I am in Northern California, where prices are just coming into view for me and my husband from an over-the-top inflated market. I have been avoiding the short sales, and the "REO expert" listings, which have been the worst offenders here - and realize that there are still so many foreclosures coming up in my target neighborhoods that I am not too worried, but patience and persistance are required. There are so many people displaced by foreclosures here that buying a home has become more affordable than renting - IF you have a down payment and good credit.

Jul 11, 2008 02:54 PM
#29