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Old 03-06-2009, 12:14 PM
 
11 posts, read 32,457 times
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What percentage can we really expect to take off current homes on the market? Are sellers really turning down offers in this market?

We made an offer last weekend on a home in Union Co. that was rejected. Even though the price was comparable to houses sold in that neighborhood, the company would not budge.

Should we move on to another house? We did our research and offered per the comps. What's going on?
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Old 03-06-2009, 12:45 PM
 
Location: Union County, NC
1,891 posts, read 5,554,668 times
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Did they say why the offer was rejected? Also, did your agent submit comps with the offer? It seems like you are not dealing with a private seller -- sometimes the company has a number in mind, and if you are short of that number they will just reject the offer. If the home has been on the market for a short time I have seen them wait and see what happens.
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Old 03-06-2009, 12:46 PM
 
3,774 posts, read 7,010,460 times
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Quote:
Originally Posted by NewCharlotteMommy View Post
What percentage can we really expect to take off current homes on the market? Are sellers really turning down offers in this market?

We made an offer last weekend on a home in Union Co. that was rejected. Even though the price was comparable to houses sold in that neighborhood, the company would not budge.

Should we move on to another house? We did our research and offered per the comps. What's going on?
Keep in mind, not everyone selling their house 'has to'... if you made the offer and they didn't accept I can only assume you came in too far under their asking price for them to bother w/ a counter offer. At a certain point it becomes an insult. I haven't seen anyone in my neighborhood give their home away just because Wall Street is freaking out.
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Old 03-06-2009, 02:29 PM
 
Location: Waxhaw, NC
494 posts, read 1,182,567 times
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We are selling...however, do not have to so we will be picky when taking offers because we know we have a nice house. I'd assume you can discuss w/ their Realtor and find out why your offer was rejected...maybe they are not willing to take a loss as we are not.
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Old 03-06-2009, 03:55 PM
 
Location: Ayrsley
4,714 posts, read 8,476,611 times
Reputation: 3814
Yep - you can't be upset about it - I'm sure if you were selling you would want to get the most that you could for your property. It is a "buyers" market right now, but that does not mean that a seller is obligated to take any offer. You made an offer, they rejected it. If you're not willing to make a higher offer - cut your losses and move on.
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Old 03-06-2009, 04:01 PM
 
2,839 posts, read 4,158,051 times
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Try not to get your heart set on one house. As someone said - some sellers don't have to sell. As the economy declines, more layoffs, etc. there will be more sellers that will have to sell. It appears housing prices will continue to decline for quite some time so I would not buy unless I knew I was getting a great deal.
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Old 03-06-2009, 04:05 PM
 
Location: The place where the road & the sky collide
21,982 posts, read 27,263,822 times
Reputation: 9008
Quote:
Originally Posted by NewCharlotteMommy View Post
What percentage can we really expect to take off current homes on the market? Are sellers really turning down offers in this market?

We made an offer last weekend on a home in Union Co. that was rejected. Even though the price was comparable to houses sold in that neighborhood, the company would not budge.

Should we move on to another house? We did our research and offered per the comps. What's going on?
It sounds like you're going after a foreclosure.

I went in extremely low (& knew it was low), so when it was ignored, I raised it a bit & waited. I did get a counter-offer, then.

south.charlotte&union was my agent. She knows what she is talking about. She submitted comps with the bids as well as a list of some of the repairs that needed to be done.

I have since found out that somewhere in the bidding process another person submitted a bid for considerably less than my initial bid (He did my electrical inspection & he told me what he had bid on the house. He was not told that someone else was bidding, but knew that the house went off the market, so drew his own conclusion.)

If this is a foreclosure, someone may have come in higher, or maybe the company is looking for something a bit higher.
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Old 06-02-2009, 08:26 AM
 
1 posts, read 1,839 times
Reputation: 10
Quote:
Originally Posted by NewCharlotteMommy View Post
What percentage can we really expect to take off current homes on the market? Are sellers really turning down offers in this market?

We made an offer last weekend on a home in Union Co. that was rejected. Even though the price was comparable to houses sold in that neighborhood, the company would not budge.

Should we move on to another house? We did our research and offered per the comps. What's going on?
I have a house for sale in Union County? Would you be interested in looking at it?
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Old 06-02-2009, 09:56 AM
 
Location: Mostly in my head
19,822 posts, read 56,000,461 times
Reputation: 19019
It might also be a relocation company that owns the house - and they don't usually budge for a long time. Your agent really needs to find out what the deal is with the selling company.
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