Can You Wiggle It, Just A Little Bit For Me...How Much Wiggle Room Is There In That ME Real Estate Price?

By
Real Estate Agent with MOOERS REALTY ME Broker License 106759

The sellers wants X for the Maine real estate, asks about everyone wanting to beat him down, so wiggle room.

maine lake waterfront view How much to wheel and deal, make the buyer purchase the property Joe or Josephine Broker?

Remember that any property, piece of real estate priced realistically, marketed correctly will move in any market.

And adding on an extra $5,000, $50,000 or whatever for "wiggle room" to play the horse trading game is not always good advice in so so real estate markets that exist in some areas.

It depends on the supply of that type of real estate, and how the market reacts to offers. The track record of sales and the ratio of listed "value" and SOLD price. For example Maine waterfront property is never in over supply, abundance.

And selling a family lake cottage in Maine even though not used much any more is still a hard bitter pill for the owner holding the keys, all those fun time memories to swallow. maine log lake homeTo let go of the keys and list the Maine property on water.

So making offers on the only  cottage, waterfront home on a popular local ME lake could be laughed at.

And real estate price wiggle room, there is none.

With Maine waterfront, if you have been looking for a piece for a few seasons.

And the doctor says Grampy, you are not going to live forever.

Well, prompt action is needed. Hop to it kicks into gear. Buying with your heart, not your head kicks in if Grampy wants to see the grandchildren do the dog paddle out front. To sit on a deck, smell a steak grilling, hearing the sizzle and enjoying a sunset. Surrounded by his loved ones.

Thinking about sunsets, sunrises...the few he may have left to enjoy.

He has the money, not waiting for a bank appaiser to do his dog and pony valuation exercise. Gimme the Maine waterfront camp, real estate. Period. With multiple offers coming in, the place going for more than listed price. And some brokers think every real estate market is upside down, stalled. Not in Maine.

maine snowmobilers vacationingSo wiggle room. Shake your money maker, just a little bit.

Wiggle it, just a little bit Mr Seller make you hit a stone walll.

Stopped in your tracks and in a few days with the announcement the place you offered a third less on just sold for a third more than the listing price.

Real estate is an emotional exercise and add some Maine waterfront to the equation and the feelings soar higher. Things heat up. Wanting, tasting that Maine waterfront so badly you got to have it.

You want it for summer boating, winter snowsledding, fall hunting, spring hiking vacations. You will have it one way or another and other Maine real estate buyers better get out of the way. Sometimes when looking at the lake camp that may be right on the edge of the lake which you can not build that close any more, maine kids summer lake tubingthe buyer will ask, isn't that a lot of money for this shack, er I mean camp?

I tell them to turn around, and as we revolve on the shore to shift focus from the sticks, shingles to the view.

Listen to a Maine loon crying, Hear the waves lapping at the shore.

Feel the sunshine, watch the red ball go down over a hill side, sunlight dancing on the water and creating moving diamonds as it does. Or the moon dancing on the same lake moments later under a black velvet star studded sky. How do you put a price on that?

That is what you are buying....a 16,000 acre lake and all the recreational fun having that for a neighbor provides you, your family. Think cook outs, family reunions, relaxing, fishing, swimming, sailing, kayaking along the shore and smelling burgers cooking.

Maine waterfront real estate creates a memorable experience, is a great investment. More fun than you will ever have with a stack of stock certificates smelling a little musty, CD's and bank books that get moldy stuck in that dark top desk drawer.

I'm Maine REALTOR Andrew Mooers

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Rainmaker
328,175
Susan Morrison
RE/MAX Executive Realty - Franklin, MA

Andy....the prices in the Houlton, Maine area are so reasonable, why would you need any wiggle room???  It's already a give away!!!

Jul 22, 2010 10:24 AM #1
Rainer
79,227
Virginia Vanini, GRI,AHWD
Carey and Guarrera Real Estate - Shelton, CT

Andy, 

Great Advice. I love your videos. I am going to try one myself one of these days. They are from the heart. Lately when I have been feeling a little frazzled and I find that I don't have as much good nature in my reserve tank I look at some of your videos of houses on the water and pretend I have bought one and then I decorate it.  See, you are even helping a fellow realtor in that weird way. :)

Have a great weekend!

Jul 22, 2010 10:33 AM #2
Rainmaker
2,394,979
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Not all types of properties have an over abundance of inventory.  It certainly looks like a fantastic place to be!

Jul 22, 2010 10:52 AM #3
Rainmaker
155,388
Ted Tyndall
Davidson Realty Inc. - Saint Augustine, FL
I will help You find the Home YOU want to Buy

Andy, good post. I have had customers ask me that and it irritates me. I can't tell them that but if they want to make an offer we need to put it in writing. However, don't get upset with me if they don't accept or counter.

Jul 22, 2010 10:52 AM #4
Ambassador
1,549,873
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

I can't get past the beautiful pictures....I want one too! How much is it anyway? I'd love to know.

Jul 22, 2010 10:58 AM #5
Rainer
264,127
Bill Travis
Captain Bill Realty, LLC - Gilbert, AZ
Broker/Owner

But the buyer doesn't want to pay list price. They want to get down below that. So it's a conumdrum.

Jul 22, 2010 11:31 AM #6
Rainmaker
134,231
Marcia Kramarz
Re/Max Executive Realty - Medway, MA
CDPE,LMC,CBR

Great Post - I'm one of those potential "sellers" in NH - and the thought of putting the home on the market after 30 years of ownership makes me shake!  

You're right it's all about the memories !

Wish I was selling in a market with a demand higher than supply - Lucky you!

 

Jul 22, 2010 11:34 AM #7
Rainer
437,789
Terry Chenier
Homelife Glenayre Realty - Mission, BC

Andy,

You certainly are an ambassador for lakeside property. Good post.

Jul 22, 2010 12:04 PM #8
Ambassador
2,562,623
Ed Silva
RE/MAX Professionals, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Andy, every word had the emotion of someone that has experienced that scenario. You are right about pricing it right and letting the market take over. Those people that think they should put a few extra dollars in there for battering will continue to wait for someone to barter with. Maybe a couple of years down the road.

Jul 22, 2010 02:02 PM #9
Rainmaker
3,248,021
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Andrew

You are right on target about pricing.

Good luck and success.

Lou Ludwig

Jul 22, 2010 02:28 PM #10
Rainer
70,763
Lori Liveston
Virtual Homes, Real Estate - Waltham, MA

Very well written and a great piece about ME real estate.... makes me want to make an offer on that cabin.  How much wiggle room do you think there is in the price? :) 

Jul 22, 2010 02:43 PM #11
Rainmaker
1,317,551
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

An interesting perspective... however, in this climate where the banks are driving the transactions, I don't think the underwriters see this the same way. 

Jul 22, 2010 02:46 PM #12
Rainmaker
288,972
Pippa Mac
Chevaux Group Realtor, The Woodlands and Spring - The Woodlands, TX
The Woodlands TX Real Estate

Good Advice:  "adding on an extra $5,000, $50,000 or whatever for "wiggle room" to play the horse trading game is not always good advice in so so real estate markets that exist in some areas"

Jul 22, 2010 02:59 PM #13
Rainmaker
1,949,502
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Susan...we have to remind some buyers who call in from eight states away when they right off the bat ask, how much room to move does the seller have that most of our sellers price the listings fairly to begin with. And when a home price is $30,000, the thought of would they come down $10,000, a third of the price right up front, NOoooooo. The property is worth, will sell for the $30,000. And in the rural market low low price situation all the time, more people can afford the place. Outright.

Virginia...you may need a piece of Maine for real when the pretending wears off. Start small, a piece of ME land. You get a field, woods, two road frontages and lakes awfully, awfully handy.

Eveylyn..you are right. Like shooting the moon in Hearts card game, being short suited in some areas is a good thing, running the same kind and color in your hand can take trick after trick.

Ted...easy way to handle the guy or gal asking would the seller let me steal it for 10% of the purchase price is not to get your knickers in a knot. But to say, the seller and I had a little talk during the listing, and he agreed, if you can find a property this nice, that cheap, grab it. No hard feelings. But make the offers, no matter how puny and let seller know at listing don't get bent out of shape. Hate the offer, not the messenger.

Karen...I agree you need one. If you are thinking the log home on the Maine lake, here is the propaganda on that one. Or my preferred way to serve up the details is hit the video button.

Bill...know the type. Had an Uncle Carl who would not pay the price for anything...dickered to the point of embarrassment, petty larceny. Even on a pack of gum, penny candy.

Marcia...super to hear from a seller, owner who is nervous, not so wild in her heart about selling even though her head may say it is time, past the time to put a for sale sign on the lawn. We blog on AR, other cyber village locations to more than buyers...proof postive.

Terry....you are just as noble, regal in your area like the other pairs of eyeballs reading this comment thread.

Ed...often the family member who does not want to sell the parents house, lake camp that says there, got the place on the market. If too many extra zero tagged on the end of the listing price, it is going to sit. Help sell other realistically price properties. While it develops shelf life issues, listing market mold.

Lou...you are a master at saying what you mean like a twitter response. Like words cost money, so chose them wisely and don't hog the air waves. Get in, get out. Johnny on the spot with wisdom of Ben Franklin, Lee Iaccoca.

Lori....Between us girls (motioning to come closer, voice low, to a whisper, eyes darting around room nervously) Let you in on a little secret. The place is worth the sale price and seller says it sells for this, or it waits. Wiggle it, shake it, don't break it. You might consider just land on a lake too. 2 acres in the $40's perhaps. Or a dozen acres on a large Maine river with 900' frontage, $17,000.

Joan....Banks don't have Maine property owners, buyers in a boxed canyon with a gun to their head. We have lots of cash buyers on waterfront, and tons, a slew of owner financed land deals where it is bank of the owner carrying a first mortgage. Custom made, not bank, no triangle. Remember our houses, land is soooo cheap, you can own outright coming from the city heading to Mayberry. Waterfront is more pricey but compared to down country, divide by three and four.

Pippa..age old do you sorta want to list, kinda want to sell? We are all adults here, the stakes are real, life changing and putting your life on hold with over listed place can mean a pendulum gets introduced to the situation. Seller who does not need to sell dipping toe in property market waters suddenly two years later needs a heart or kidney transplant, to get a kid out of jail or other life altering situation and says sell for 50 cents on the dollar of the real value. Over priced to under priced swing happens. That's why you need a REALTOR guiding the process and pointing out what is happening and do you want that end result...the real estate movie to end this way Mr Owner, Seller?

Jul 23, 2010 12:13 AM #14
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Rainmaker
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Andrew Mooers | 207.532.6573

Northern Maine Real Estate-Aroostook County Broker
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