List Price vs Sold Price In The 4th Quarter Of 2011
What Are Buyers REALLY Paying For Homes?
What Are Sellers REALLY Accepting For Their Homes?
First, let's get one observation on the table: It's a sellers market.
There is not enough inventory to meet the demand for good homes, and demand is strong.
When my customers find a house on which they want to make a bid, many begin listening to tapes in their heads, placed there by family and friends.
Tapes from Dad that say, "Start your offer by cutting the price by 30%, whack off down to the next nearest $10,000, back off $5,000 for wiggle room, and if the seller DARES to make a counter-offer, tell them you'll cut your offer by $1,000 per hour until they give in."
Sorry Dad, the market is not that soft. It's much more firm than your strategy implies.
According to a comprehensive market analysis of homes sold so far in the 4th quarter of 2011, the typical difference between list price and SOLD price is 3%.
In some cases, homes have sold for more than the asking price because two or more bidders have come to the table at the same time.
So, if you have hallucinations of getting a house for 20% below the list price, that ship sailed in 2009.
Fear not, my job is to help you get the house you want, at the lowest price, and best terms possible, with the fewest hassles.
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