stingy negotiation skills

By
Real Estate Agent with Marquette Realty & Consulting

If you are representing buyers remember to be stingy in your offers. The market is still dropping and will bottom out next year. The old adage of "it is easier to to buy than sell" is true today. Media reports to the health and vitatlity of our business are exagerated at both ends. There are tons of properties in "REO orbit" causing an artificial "shortage of inventory" which will drastically depress prices for the next 9 months. Banks must sell the properties eventually

If you are a seller get out now and park you money in tax deffered annuities, The stock market will dive too.

 

Comments (4)

Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Well John, it all depends on the circumstances.  I had a buyer for a foreclosed home that wanted to be stingy on his offer.  He almost fired me when I said go in a little above asking price.  He didn't, it sold for $500. above asking price.  He's stilll looking.

Aug 21, 2009 12:26 AM
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

Yes I agree with Gabe above. We are seeing more and more foreclosures go for more than the asking price.

Aug 21, 2009 12:27 AM
Claudette Millette
The Buyers' Counsel - Ashland, MA
Buyer, Broker - Metrowest Mass

Hi, John:  Of course, all real estate is local and perhaps in your area, this is true.  People are still battling it out here over properties that are priced well and these include foreclosures. 

As to  where we should put our money these days, someplace safe is still good advice. 

Aug 21, 2009 12:46 AM
Sergio Rebollo Jr.
Real Estate TeamMates - Miami, FL

Stingy may work in some areas but in Miami, things have changed!!  If a property has been on the market fior a while and dropping in price...maybe.  A new property in a decent area, count on 10 to 20 and even 40 to 50 offers!!  I'm involved in one right now where they have received over 50 and we are at $155K on a list of $144K and still no answer from the bank.

Aug 23, 2009 05:12 AM