Well I think I will stick my head out on the line with this one. I going to say that the vast majority of professional out there free that Price drive the market. If the price is low enough someone will buy! If the price is not in range the home will will linger on the market. I agree with those statements, but feel that they are not 100% accurate. You see Price is only one part of the equation, the other side is Terms.
With the correct terms the price maybe acceptable. For example in today market some lenders will not lend on a condo project period. If the owner is will to provide Seller Financing the Buyer may be will to pay the full price, because the may save in the expenses of closing cost. With the owner offering a mortgage the buyer may feel that he is getting a better rate because of his credit and again accept a full price offer.
In today'smarket Creative Financing can open the door to deals that are fall apart. It's time to dust off the books for the 70-80's, and polish up or skills on being creative. It's time to look up and keep a list of good lenders that have Hard Money to lend. I have found Hard Money in today market with Down Payment requirements ranging from 40 to 20 down. Keep your eye open and collect the numbers of those that can help you close the deal.
Chuck Mixon, Cutler Bay , Florida
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