If you have listened to, well, really any news lately I'm sure you're under the impression it's a buyer's market. Well, this is true in a lot of instances. How could it not with the historic low interest rates, the unbelievable inventory, and all time low home prices.
Well, I'm here to remind the buyers to be extremely careful about being too arrogant. You will absolutely be getting a good deal, but it doesn't mean you have to offer $30,000+ less than the list price to get it. Sellers have been hit extremely hard and have lowered and lowered and lowered their prices over the last few years. A "good deal" doesn't necessarily mean getting the home for $50,000 less than it's listed for. A good deal means looking at the comps and evaluating the market for what it is. The price has already dropped, it just didn't happen on the offer paperwork.
Here's another spin. Although we're in a buyer's market, the sellers are getting smart and ending in scenarios where they come out on top. What do I mean?? Well, in the last month or so, I have entered into SEVERAL multiple offer situations. The sell of a home comes down to three things: price, location and condition; you've heard me say this before! The homes that are in great condition in fantastic locations and are priced aggressively (at the average or below), sell fast!! And, really, if anything it will put more money in your pocket at the end of the day by driving the price up via multiple offers.
So my point is this, if you find a home you like, buyers, don't automatically assume because it's a "Buyer's Market" that you can go in and low ball the deal. For the most part you will find that the listing agent has done their homework and priced the listing appropriately. And, too, if you love the home and it's only been on the market a day or two, guess how many other buyers out there will love the home as well. If you're looking in the same area within the same criteria, everyone else looking for what you're looking for will see this home as well and love it just the same! So, when looking at houses, just make sure you have an agent who does his/her homework to advize you appropriately when making an offer. That's all!! =)