Ican get you a "A DEAL" YES -" A STEAL" -NO, NOT IN TODAY'S MARKET!

By
Real Estate Sales Representative with Coldwell Banker Vanguard

I can you a DEAL in todays market but just not a STEAL!

 

The shortage of "re-sale" or " seller owned "  homes on the market makes it a definite "Seller's Market."  It is the simple law of "Supply and Demand"  which boils down to the shorter the supply the more it is in demand.

So my buyer friends please try to understand that "YES" I can get you a deal but "NO" you can't steal it from the seller.  In other words, I can negoiate a price that is a real deal, however I cannot secure an upgrade allowance, some of the furniture from inside, most of the furniture from outside, your closing costs and pre-paids, and " by the way a Platinim Home Warranty would be good too!" kind of STEAL.    Not gonna happen buyer friends.

 

In today's market smart listings are "price positioned" to be competitive with what similar houses are priced so that they sell quickly.  These listings have agents that made sure the house was move in ready - patched, primed, and painted.  The appliances are new or newer and working with energy star performance.  The price per square foot was narrowed down to the square inch!  The yard was groomed and greened and pedicured with just the right amount of blooming blossoms and shady trees.  Mainly maintence free.

Ensuring that more than one person with a nice family deserves this house and can easily afford to buy it at that price.  That way the seller doen't sweat the appraisal value coming back low.    The buyer gets instant equity with that homeIf it comes out a little high.  So "Yes" today I can get you a good deal but  "No"  we won't "Steal" it. 

Cause buyer buddy you have got to come off of some of that money that you are sitting on if you got to have the house!  Maybe you will see that it is Worth the time if takes you to complete the upgrades that you want,how you want them done, when you are able to get to them YOURSELF!  DIY One room at a time. Have it your way. Just not today - I can get you a deal but no they are not giving it away - so you can't get a steal.  This market is not desparate like the others, the sellers know their houses value and their price is fair.  It's not a jungle out there, no need to take the machetes just your wallett and a couple smiles.  One to give and one to take and reach out with a hand to shake -lets make a deal (offer!)

 

Comments (37)

Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

Everybody wants a deal-where were you three years ago? It is a sellers market HELLO PEOPLE!

Aug 19, 2013 12:29 AM
Kate McQueen
Realty Associates Texas - Cypress, TX
Tailored service for your real estate needs!

I actually had someone recently walk into a lease property they were interested in and start pointing out things they didn't like, although almost IMMEDIATELY they said the loved it and wanted to lease it.  They thought if they pointed out things they didn't like, the management company would lower the rent.  So, IN FRONT OF THEM, I called and asked them to lower the rent.  The agent told me he'd get back to me by email.  So when I got the email, I made sure I forwarded it to them.

This doesn't work people!  If you don't like it, keep looking!

Aug 19, 2013 12:43 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Maureen, with low inventories out there, it is definitely a sellers market. There may be some deals out there as you said, no steals.

Aug 19, 2013 12:48 AM
Suzanne Otto
Six Twenty Designs - Lansdale, PA
Your Montgomery County PA home stager

Great post Maureen. I believe buyers think it's still their market and they can get away with steals. It's turning and such is not the case anymore.

Aug 19, 2013 12:51 AM
Debra Hight
Coldwell Banker United, Realtors - Houston, TX
Debra Hight

Maureen, you're absolutely right. Almost every deal I've done this year has had multiple offers. Homes that show well and are priced right are commanding top dollar, and buyers need to be prepared to act quickly and aggressively when they find the home they want. 

Aug 19, 2013 12:52 AM
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Let the property listings they want for less come and go a few times and you don't have to explain why they are still on the fence. And where those painful long splinters came from because they are parked, sidelined, not in the real estate game and moving ahead spaces to the closing you want them to attend for obvious reasons. (Hint: Pay check.)

Aug 19, 2013 01:16 AM
Brenda Mullen
RE/MAX Access - Schertz, TX
Your San Antonio TX Real Estate Agent!!

In my market, for the most part a buyer has not been able to get a "steal" no matter what.  In a seller's market they totally have no basis for even trying, yet they still do lol..sometimes it takes a few losses for them to learn. 

Aug 19, 2013 01:32 AM
Scott Fogleman
New Home Team 804-573-9592 - Richmond, VA
Greater Good Group

So true, the market has changed.. you canget a good deal but you need to act now..

Aug 19, 2013 02:24 AM
Jay & Michelle Lieberman
Keller Williams World Class - Agoura Hills, CA
Creating Calm in the Buying and Selling Chaos

There are just a few good deals out there, but they hit the market for 2 minutes or are off market.  Great message in your post.  Don't look at purchasing a home as getting a steal and grinding the price.  Need to look at it as getting a home you want now at a price you can afford that is within the comp range of home sales.

Aug 19, 2013 02:48 AM
Trisha Bush-LeFore
Preferred Properties Land & Homes - Walla Walla, WA
Providing Realtor Services in the Walla Walla Area

I think it is more heartbreaking to lose the house because you were being ambitious and lowballed instead of looking at what can actually be achieved.

Aug 19, 2013 02:52 AM
Kelly Taylor
Keller Williams - Lakewood Ranch, FL

Good points all. I have noticed that buyers in my area are starting to come around slowly. I don't get as many short sale and foreclosure calls anymore. I really don't miss them!

Aug 19, 2013 02:55 AM
Marc McMaster
RE/MAX Centre Realty - State College, PA
Putting my clients before myself

Great post, I'm stiall amazed at all the people that keep reading ancient headlines about the real estate market being terrible and then trying to get a "steal" when that market is gone.

Aug 19, 2013 02:56 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Love the way you put it!  The deal might just be the house the buyer wants to call home.  The steal . . . well, that was well over 18 months ago, when we KEPT telling buyers . . . "NOW" is the time to buy.  No one ever listens to us.

Aug 19, 2013 03:21 AM
Doug Rogers
Bayou Properties - Alexandria, LA
Your Alexandria Louisiana Agent

"But dad says NEVER to offer more than 50% of the asking price". Almost a direct quote from a buyer I recently dumped...

Aug 19, 2013 03:22 AM
Rosie Moore
Serving Sugar Land, Richmond, Rosenberg, Missouri City - Sugar Land, TX
We are in a seller's market in Houston, and it has been challenging finding homes that meet my buyers specific criteria due to low inventory.
Aug 19, 2013 03:28 AM
Vanessa Saunders
Global Property Systems Real Estate - White Plains, NY
Real Estate | Done Differently

Love that expression! I'm going to pass it on to my buyer agents

Aug 19, 2013 03:47 AM
Karen Fiddler, Broker/Owner
Karen Parsons-Fiddler, Broker 949-510-2395 - Mission Viejo, CA
Orange County & Lake Arrowhead, CA (949)510-2395

The best we can do in all markets is to negotiate the best we can for the client. Steals? by what standard? great post

Aug 19, 2013 03:59 AM
Paul Collier
Patriot Home Mortgage - Huntington Beach, CA
Paul Collier

According to supply/demand, it's still a seller's market but it's close enough to be teetering somewhere in the middle. Neither side seems to be able to give a steal or demand one. That feels healthy to me!

Aug 19, 2013 05:17 AM
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Isn't it amazing how things turn around.  From 2003-2006, we had a sellers market.  Then from around 2007-2012 it was a buyers market.  Now in 2013 we have a sellers market again.  I guess a normal market no longer exists.

Aug 19, 2013 08:04 AM
Vicki Workman
Keller Williams Consultants Realty - Marysville, OH
ABR, CRS, E-Pro, GRI, SFR, RENE
I am finding on a few occasions this year that the buyers are then coming back and asking for chattel items. Sometimes for extra (so I get to sell furniture and electronics now?) and sometimes as a "throw in". This is not something I have coached my buyers to do, but it seems there are some less experienced agents that must be promoting this? Are you seeing more of this in your markets as well? For my sellers, this is sometimes proving a convenience so they do not have to move items. But I am making it clear that this cannot be part of the purchase contract as an appraiser will not include personal property. It used to be that sellers would be offended that buyers would want their personal items. The market has surely changed from what it once was. Going with the flow and not getting set in my ways has helped to keep clients happy.
Aug 20, 2013 10:28 PM