Archive for the ‘Real World Rules for Real Estate’ Category

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Reality Bites – are you serious?????????????

April 27, 2009

I heard something hilarious today.  A buyer told me that they had put in EIGHT offers on EIGHT different homes and had not had a positive response to date.

I thought this strange since people are DYING to sell homes, right? Then came the zinger. After asking what went wrong – I was informed that they were going around making lowball offers (meaning fifty cents on the dollar) until someone said yes. All I have to say is “God bless their REALTOR”.

This person then said something to the effect that sellers need to wake up and realize they can’t make money on real estate today. I think the wrong person is in “sleep” mode here.

This is a tough market and yes there are a few “steals” out there but this is not BARGAIN BASEMENT sales time. These buyers haven’t been successful with short sales, foreclosures or any well-priced property. At what point do they wake up and realize the problem might be —- THEM!

People want to sell but at a reasonable and FAIR price. Most Sellers are not going to turn over the keys to their homes and cash in their 401K to make your sale a reality. In other words, they aren’t bringing money to the table just to make your home purchase perfect. For the record, a well kept home at a fair price is STILL a better buy than most foreclosures. Foreclosure buyers are already finding out that the bargain they thought they purchased may be the money pit of tomorrow. A turnkey property is worth its weight in gold.

Let’s all get real and make reasonable offers on well priced homes. As the saying goes “reality bites”.