It is that time again. One of my listings just got an offer. The only problem is that the offer is just barely over what my client purchased the place for in July of 2009! Granted, he purchased the property from a bank - it was one of 3 REO sales I did last year.
In the interim he has put over 12k into the property since he was planning on using it himself - BUT it turns out I was correct and the place is indeed too small for him. We are looking for a larger condo now and this time directly on the beach!
So how low do you go? The buyer thinks their offer is great - we think they need to come up A LOT! I get tired of hearing 'it is a buyer's market'! Folks, 2008 and 2009 were buyer's markets but NEWS FLASH 2010 is a changing ball game!!!!! If you think otherwise, you are in for a surprise!
I have had over a dozen offers NOT HAPPEN so far this year because the buyer's still think it is a buyer's market!!!! Thanks to the media, everyone is hearing how horrible things are. Perhaps they are in some areas but the Clearwater Florida market is extremely active and that means that seller's are starting to get close to their asking price again!!!
It has been a long time coming!!!! If the comps have been done correctly and the listing is priced according to the market there is no need anymore for fire sales! If you are looking for a fire sale, you will be left on the side while the market picks up its pace again!!!
Needless to say, I will keep you posted as to how this progresses............................
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