I'm sure every agent out there as dealt with more than one buyer and/or investor who wants to a steal a home. They think that they can offer $20,000-100,000 less than the asking price. They say they know of someone who bought a house for a song, but they can never give you enough details so that you can research its varacity.
This is not to say that the professional trust deed buyers or buyers at trustee sales can't or aren't getting good or even great buys, but these are individuals or groups who are solely dedicated to this pursuit. So when the new buyer or casual investor seek out a "steal" they really have no idea that for them it's not to be had.
Today the actual "steal" is in the home price. Currently in most markets home prices are hovering around 2002 pricing. That's a great buy on a home when you consider the massive appreciation that took place between 2003-2007.
Buyer's today have a hard time recognizing and accepting that the discount is reflected in today's home price. Depending on the market, most home prices listed are 35-50% off from what they were at the peak. Buyers think that they are going to get the deals (rather steals) that they heard about in the 90's recession. But what they fail to realize is that level of transparency is much higher today than it was in the last recession.
For instance, the internet was barely coming online and less than 10% of the population had access to it. Today all professionals are online and seeing what is happening with real estate in their market at a moments notice. The speed that information travels helps keep the housing market priced accurately, sort of like the stock market, but not nearly as efficient. So if consumers and even some agents could realize this it would make the offer and acceptance process much easier.
The bottom line... Buyers can't steal homes. They have to pay fair market value just like everyone else.
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