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Wednesday, May 08, 2013

Some things buyers say in a changing market…

Although some are not yet convinced the real estate market is shifting to a seller's market, it is swinging to the other side.

And as the market changes some will still be asking questions about seller motivations as well as responses to offers.  What are some of the questions?

  • Why didn’t they counter?  It was a multiple offer situation. when their agent said that, it was a negotiation 
  • But a condo in the same complex with more upgrades sold for the same thing two months ago! Lower inventories and more buyers in the market place will cause prices to rise - regardless of product type. 
  • They don’t really expect to get list price, do they?  Expectations are rising as prices rise. Sellers may not get their asking price but 95-96% is realistic - not an 80-85% offer.
So what does a buyer do?  Make your initial offer a good one - reasonable price with only necessary conditions (inspections, financing, etc).

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