My wife and I are presently in negotiations for a new home. Everyday we are reading the local and regional newspapers about the slump in the housing market in the Northeast (we live in the Hudson Valley region of NY).
Today, again, another article in the NY Times, What Statistics on Home Sales Aren't Saying , about how prices are falling.
I tihnk we'll get our price, but now I'm concerned our price is too high even though its coming in at 10% less than the listing price, and about 7% less than the last accepted offer in a deal that didn't go through about 5 months ago. I'm a little disappointed we couldn't do better, but at the end of the day I think long-term this will turn out to be a good deal for us as we are expecting this to be our home for a long time.
Time will tell. We should know if our final offer is accepted later today.
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St.Cloud Homes - Saint Cloud, FL
St. Cloud Fl Realtor, Osceola County Real Estate 407-616-9904
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer
Weisman Success Resources, Inc. - Poughkeepsie, NY
We're moving! Our offer was accepted. Now the real work begins!
This comes from the school of "Be careful what you wish for!"
Dec 06, 2006 05:15 AM
M & T Bank - Kingston, NY
Many buyers are ghoing through the same thing. When the market changes from a sellers market to a buyers market many people sit on the sideline until they are certain about what they should do.
These market changes are often the best time to get bargains. The meek may inherit the earth, but they are usually left out of the real estate bargain. Congrats on getting your offer accepted.
Dec 11, 2006 11:56 AM
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