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New Jersey Suburbs of Philadelphia Burlington County, Camden County, Gloucester County, Salem County in South Jersey
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Old 08-02-2014, 09:57 AM
 
60 posts, read 90,214 times
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So we have been looking to purchase a home in camden county for roughly 4 months now with little success. At this point we have made offers on 6 properties and according to our realtor they either don't counter or only come down $1000 off their asking price. I've never been in such a frustrating situation trying to purchasing a home. Out of the 6 properties only one was a low ball offer due to being a short sale in need of work. All other offers were not far off of what similar homes are selling for.

My wife thinks our realtor is not submitting our offer so we resubmit a higher offer so either she a. receives a higher comm or b. is trying to improve the market value which helps in long term. I know this may sound crazy, but after talking to another realtor he agree's something doesn't sound right. However we don't have a proof of this only a gut feeling.



Is camden county no longer a buyer's market or do we have a realtor as crazy as it sounds not working for us?
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Old 08-02-2014, 04:16 PM
 
584 posts, read 1,352,726 times
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How much below asking, are the offers that you are submitting? If the offers are too low, the sellers *may* be refusing to counter to force you to resubmit an offer that they see as more suitable. But, I agree, it's weird this would happen 6 times. It's also weird to think that realtor wouldn't want to get help you get the house, given the nice commission that would come with it.

Not sure where you are looking, but in the Haddon Township/ Haddonfield area, it seems like properties are moving more quickly (if priced well). A couple of houses on my street went under contract fairly soon after going on the market (14 days or less).

What is your contract like with your realtor? Can you get a new realtor ASAP and try resubmitting an offer to one of thes places?
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Old 08-02-2014, 06:41 PM
 
60 posts, read 90,214 times
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Quote:
Originally Posted by templeu View Post
How much below asking, are the offers that you are submitting? If the offers are too low, the sellers *may* be refusing to counter to force you to resubmit an offer that they see as more suitable. But, I agree, it's weird this would happen 6 times. It's also weird to think that realtor wouldn't want to get help you get the house, given the nice commission that would come with it.

Not sure where you are looking, but in the Haddon Township/ Haddonfield area, it seems like properties are moving more quickly (if priced well). A couple of houses on my street went under contract fairly soon after going on the market (14 days or less).

What is your contract like with your realtor? Can you get a new realtor ASAP and try resubmitting an offer to one of thes places?
Our offers are very fair. We offered 12k less than list price and 7k under what similar homes are selling for here in Camden county. Funny thing is 5 of the 6 homes are still on the market. What gives...
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Old 08-03-2014, 07:42 PM
 
Location: Mount Laurel
4,187 posts, read 11,192,484 times
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Quote:
Originally Posted by DonM77 View Post
Our offers are very fair. We offered 12k less than list price and 7k under what similar homes are selling for here in Camden county. Funny thing is 5 of the 6 homes are still on the market. What gives...
Prices are lot lower than what they paid. Seller can't "afford" the $12K hit. I see houses sold $60K-$80K lower than what was paid for 8-10 years ago and it still took a long time to sell.
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Old 08-03-2014, 08:14 PM
 
1,622 posts, read 3,802,966 times
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And you can't comp a whole county. You have to comp vs houses nearby. A 3 bedroom in Woodlyne is going to be quite different that a 3 bedroom in Haddonfield.
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Old 08-03-2014, 08:17 PM
 
1,622 posts, read 3,802,966 times
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We are renting our home now because of the market. We will sell when we can. Right now if someone offered even $5k below asking it would be a no go. After paying commissions, paying off the mortgage, there wouldn't be $500 left. I think the buyers market is slowing down. Property values are coming up slightly but not enough for a seller to be able to take less than asking.
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Old 08-04-2014, 03:53 PM
 
128 posts, read 338,968 times
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It really is case by case. If a seller takes less on their sale, they will typically make it up when they go to purchase. Also, circumstances change. A seller might say no to an offer that they'll gladly accept 6 months down the road. That being said, I am an agent myself, and it does seem odd that you wouldn't have gotten any counter offers. If you really think that your agent isn't working for you, you could contact their managing broker and have them investigate, or look over your buyer agency contract and see what needs to be done to fire them. There are too many good agents out there to be bothered with one you aren't happy with.
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Old 08-04-2014, 08:30 PM
 
6,318 posts, read 9,511,119 times
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Sounds like a realtor problem. 6 offers and not one legitimate counter seems fishy. You'd think the realtor would get at this point that you sound like you're familiar with the comps. They don't get paid if you don't buy anything. Do you even have a contract with them?
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Old 08-05-2014, 02:13 PM
 
592 posts, read 1,368,583 times
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I have a nice cape cod in Bellmawr that we are putting on the market next week
We already moved out so it could be a quick close for someone.

Upgraded Kitchen and both bathrooms (which are both full baths).
4 BRs. My son is refinishing the floors and we are freshening up the basement.

Not listed yet... in the 165k range.
Nice quiet street. safe. Easy access to all the major roads.
:-)
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