Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Location: Halfway between Number 4 Privet Drive and Forks, WA
1,516 posts, read 4,590,259 times
Reputation: 677
Advertisements
I went and looked at several homes this weekend. Some were 30-40k more than I am willing to spend, but I looked because those properties have been sitting 6+ months on the market.
BTW, I am still a seller until we close next month. I know how it feels and it sucks to sell in this market. And my market is holding steady better than some, but STILL, I had to give my house a pretty good haircut to get it sold. Know why? Because there are fewer and fewer QUALIFIED buyers out there. That is dictating the price of your home. It is dog eat dog and not for the weak stomach, that is for sure.
I went and looked at several homes this weekend. Some were 30-40k more than I am willing to spend, but I looked because those properties have been sitting 6+ months on the market.
BTW, I am still a seller until we close next month. I know how it feels and it sucks to sell in this market. And my market is holding steady better than some, but STILL, I had to give my house a pretty good haircut to get it sold. Know why? Because there are fewer and fewer QUALIFIED buyers out there. That is dictating the price of your home. It is dog eat dog and not for the weak stomach, that is for sure.
You're right about qualified buyers. That makes it harder to sell. I do think people end up reducing their prices because of mortgage issues. It could take forever until the right buyer comes along.
We're also looking at homes $30-40 above our budget, but not $100k
This is curious. I have never, not onced, received feedback from a showing that said something along the lines of "great house/ buyer can't afford it".
I cannot imagine a buyer's agent disclosing this. What purpose would it serve? Telling people they are spending their time and money hauling people around to see homes they can't afford?
It sounds to me like the OP may be dealing directly with buyers and their agents and it's some sort of code speak for the truth, we are not going to pay $X for your house or it's tire kickers at an Open House.
I have buyers that were looking in the $150-$175 range.
We were driving down the road and saw a sign at a house.
We pulled in and pulled aflyer out.
The list price was $269,900.
Someone tell me what I should have done since it is $95-$120K above our range.
A
We had one person come in with a letter from her bank, approving her for more than our asking price. She had decided in advance how much she wanted to spend, and it was $100k less than list. That's fine, but why not look closer to your upper limit then? As a buyer, I'm looking just slightly over the top of my limit. I guess it comes with the territory
The question ought to be--why is the person showing you her pre-approval letter and revealing her top figure? Sort of stupid negotiating tactic if you asked me.
Many people are not necessarily looking for the best house in a specific price range, but looking for the best value. A buyer that can finance more than your asking price is a qualified buyer.
Iam also looking for a good deal in a home. I found one in Texas , so I thought, it was 65,000 over what we wanted to spend. I went on the don't ask don't get school of thought and asked if they would think about accepting what we wanted to spend. The owner said yes they would. I was so excited about it. But the location of the house was ...not so great. We declined. The point is .....You never know.
Iam also looking for a good deal in a home. I found one in Texas , so I thought, it was 65,000 over what we wanted to spend. I went on the don't ask don't get school of thought and asked if they would think about accepting what we wanted to spend. The owner said yes they would. I was so excited about it. But the location of the house was ...not so great. We declined. The point is .....You never know.
Good luck,
D
So you asked if they would take what you were willing to pay, they said yes, and you said never mind? Some people would be very aggravated by that.
Why did yo ubother having a discussion on price at all if you didn't like the location? What was the point?
I have buyers that were looking in the $150-$175 range.
We were driving down the road and saw a sign at a house.
We pulled in and pulled aflyer out.
The list price was $269,900.
Someone tell me what I should have done since it is $95-$120K above our range.
Assuming you showed them something they could not afford to compare and contrast, how likely are you to sell the owner or listing agent that the price is $100K more than what they can afford? Know what I mean?
Know what's funny? The OP never said what the listing price is. For all we know it may be a million dollar house and in that case $100k isn't that big a deal these days. Even in the high $700's and up, in a slow market I can see somebody looking that much higher, just to get to know the market better.
Assuming you showed them something they could not afford to compare and contrast, how likely are you to sell the owner or listing agent that the price is $100K more than what they can afford? Know what I mean?
I never mentioned what they could afford, only what price range they were looking.
Besides that I really have no idea what you were trying to get across.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
