Reasonably priced = reasonable buyers? (housing, housing value, offer, advantage)

[InflationNation]

Originally Posted by verobeach

Oh, I'd like to have just ONE at least too. But if it's the wrong offer then we'll let it go by.

If you're in a non-volatile market AND you have the time to wait AND you don't have a weak stomach, more power to you.

[jimj]

Offering 65% off asking is one strategy to getting a good deal, it's what the people I know call bottom fishing. If you can get it good for you, you've found the person that's so hard up they'll take it. I've also seen the neighborhood visit payback on someone who drove comps in the gutter. It's interesting to hear what the neighbors say to your potential buyers when you go to sell. All of a sudden you've been infested with some kind of bug, been haunted or had someone die in the house, plumbing nightmares, you get the drift. Yes they may be envyous and you need to remember envy is a powerful emotion that can drive people do to dumb things...

You can chuckle now and you may well be right that some will not live there when you go to sell but you should see what kind of stories that will "float" around the neighborhood and in the ears of agents and future buyers from the ones who still do.

I'm not judging you, I'm just telling you what I've seen happen when neighbors get ticked because they feel like you hosed them.

[InflationNation]

Originally Posted by jimj

Offering 65% off asking is one strategy to getting a good deal, it's what the people I know call bottom fishing. If you can get it good for you, you've found the person that's so hard up they'll take it. I've also seen the neighborhood visit payback on someone who drove comps in the gutter. It's interesting to hear what the neighbors say to your potential buyers when you go to sell. All of a sudden you've been infested with some kind of bug, been haunted or had someone die in the house, plumbing nightmares, you get the drift. Yes they may be envyous and you need to remember envy is a powerful emotion that can drive people do to dumb things...

You can chuckle now and you may well be right that some will not live there when you go to sell but you should see what kind of stories that will "float" around the neighborhood and in the ears of agents and future buyers from the ones who still do.

I'm not judging you, I'm just telling you what I've seen happen when neighbors get ticked because they feel like you hosed them.

That has got to be the silliest things I've ever heard, and just a sad sad way of scaring people out of asking for a good deal. Unless the potential buyer actually speaks to the neighbor (most don't), these "stories" would never be mentioned.

Out of desperation to artificially levitate values comes great stories.

[AnthonyB]

Originally Posted by jimj

Offering 65% off asking is one strategy to getting a good deal, it's what the people I know call bottom fishing. If you can get it good for you, you've found the person that's so hard up they'll take it. I've also seen the neighborhood visit payback on someone who drove comps in the gutter. It's interesting to hear what the neighbors say to your potential buyers when you go to sell. All of a sudden you've been infested with some kind of bug, been haunted or had someone die in the house, plumbing nightmares, you get the drift. Yes they may be envyous and you need to remember envy is a powerful emotion that can drive people do to dumb things...

You can chuckle now and you may well be right that some will not live there when you go to sell but you should see what kind of stories that will "float" around the neighborhood and in the ears of agents and future buyers from the ones who still do.

I'm not judging you, I'm just telling you what I've seen happen when neighbors get ticked because they feel like you hosed them.

jimj - if the people in your neighbourhood are really that childish, petty and pathetic. Lord help you, no wonder you are moving.

[InflationNation]

Originally Posted by AnthonyB

jimj - if the people in your neighbourhood are really that childish, petty and pathetic. Lord help you, no wonder you are moving.

Amen to that.

[jimj]

The neighborhood I USED to live in was exactly that petty, unfortunately it's just something you have to deal with sometimes...

[monkeyboy]

I have to admit, I find it somewhat amusing that the sellers resent buyers who are trying to get the best deal...I think they call it capitalism....as if they wouldn't do the same if the roles were reversed. I think next summer is going to be a very difficult time to be a seller, lots of inventory, and tough price competition form the builders. If you are a seller, you'd be advised to put emotion aside and deal with the the reality of the market.

[InflationNation]

Originally Posted by monkeyboy

I have to admit, I find it somewhat amusing that the sellers resent buyers who are trying to get the best deal...I think they call it capitalism....as if they wouldn't do the same if the roles were reversed. I think next summer is going to be a very difficult time to be a seller, lots of inventory, and tough price competition form the builders. If you are a seller, you'd be advised to put emotion aside and deal with the the reality of the market.

I also don't buy the "word gets around" theory. Most neighbors don't even talk to each other about topical stuff. Most certainly don't talk about the price they sold a house for, especially if it's "lowball".

[Eric Young]

To get the thread back to the OP...

Originally Posted by verobeach

In another era, when we sold our last home in another state, we received 5 offers, 3 over asking price. Of the 3 offers, we selected the lowest offer (still $15,000 over price) because we had a gut feeling about the buyers. It wasn't worth the $5,000 to us to go through the negotiations with someone who churned us up from the get-go.

Vero - that WAS another era. That offers come in the low $400's and not in the low $500's is telling you everything you need to know.

The question you should discuss with your agent is:

In the next year, will offers come closer to our asking price or will they be even lower than what we're seeing today? What about in two years or five years?

Today is a different era...and it is anyone's guess how long this will last.

Your agent will give you his or her own assessment...and the measure of quality should, in my opinion, be the factual support he or she can give the opinion.

Ultimately, however, it is your call as to what to do.

[AnthonyB]

Originally Posted by jimj

The neighborhood I USED to live in was exactly that petty, unfortunately it's just something you have to deal with sometimes...

You have my sympathy. That would be truly horrible - sounds like one group of people truly in need of bad karma to wake them up a little, and a group I never hope to meet.

I remember talking with a client years ago about how some family got a home on their block for next to nothing - and what a nice family they were and how much they deserved a break. And that is in status (and dollar) consious New Jersey - just goes you can never tell.