Real Estate Forums

mateus · 11-28-2007, 09:16 AM

Quote:

Originally Posted by Bigtoe

No matter how much we talk to them, selling a home is very personal and emotional for the seller. I have seen sellers get pissed off at a buyer because of a low offer and refuse to work with them. I have seen buyers pay more than they should have if they hadn't started out so low.

I low balled the very first piece of real estate I tried to buy and the seller took it off the market.

I don't dispute that at all and agree with you completely. It still drives me crazy though. I have bought and sold several peices of property, many as primary residence, and have never been "insulted" per se. Now I have thought people were out of their freakin minds with some offers and I always counter back. If anything it is comical.

Bigtoe · 11-29-2007, 02:00 PM

Yea, sellers and buyers can act pretty stupid sometimes. I guess that's why they need us.

Orlando MLS · 02-10-2008, 08:30 PM

There are many bottom feeders out there. I primarily guide them towards bank owned properties. They can bottom feed on those all they want. The bank will make or lose what they want to out of the deal no matter what the bottom feeder offers.

As for the people that are backwards on their homes - they've just got to make the right financial decision for themselves - find a good realtor, attorney, advisor or friend that can help. I try to help as many of them as I can. Offer free advice, help them market for free, show them what websites to promote their houses on etc. etc. Some are glad I helped, but 99% couldn't care less about me once their problem has been solved.

Real estate kind of gives you thick skin once you've been screwed over a few times by "troubled sellers." Nonetheless, it is satisfying to help the individuals that truly appreciate the help.

hbnathan · 02-16-2008, 01:26 PM

I showed a condo to a good customer and investor and he proposed a low ball offer. I was reluctant until he gave me the same arguments some of you are posted. He said that even a low-ball offer was risky at this time, since nobody really knows how badly this real estate mess will end. Homes are not at all affordable to the average American as they were 5 or 6 years ago, even with the declines of the last year or two. I had to agree with him that the famous real estate boom didn't have any fundamental reason, except for being one of the periodical bubbles that have been "nourishing" US economy, in the same manner as the stock market "boom" was around 1997-2000.
Trying to determine when we will reach bottom is adventurous at best. An equilibrium between affordability, building costs inflation, and supply/demand of homes will eventually prevail.
As somebody said here: sellers did not worry about "pissing off" buyers with their unreasonably wild increases that lead us to this madness. So, why should a buyer have a different attitude now? A low-ball offer only reflects the market conditions. If banks are not willing to loan to risky buyers, if normal salaries cannot buy you anything close to a decent home in my territory (South Florida), if 100% financing is becoming almost impossible for a standard buyer, what can we expect? Miracles are not a common event in economy. The cold reality will settle down everything at the end of the day.

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Jim B · 02-21-2008, 08:04 PM

I have had the great fortune of not having written any low ball offers. I had to present a low ball offer to my seller in the fall, and they just said no. and about 2 weeks later we had a much better offer.

We have a much different real estate market up here than you guys down in florida and california though. Especially in the train line towns, we actually had 1% and 2% price gains in 2007 on more home sales than in 2006.