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.
I was looking for real estate in North Tampa and submitted a few extreme lowballs to feel out the market. one of my offers at 60 cents on the dollar was rejected. 2 months later i discovered they got 47 cents on the dollar. as a buyer in today's overpriced market i found this quite encouraging but have had no luck since and have cooled off the search for a few months.
has anyone picked anything up at bargain prices?
what was your realtors approach to the seller?
Can anyone reccomend a realtor in North Tampa (lutz, odessa, land o lakes) who knows how to go about presenting lowballs?
Haven't picked up a bargain in Fl in 4 years. Too many people chasing the market to the bottom and they are completely clueless. We've made many offers over the past few years that were turned down and 1 or 2 years later they ended up selling for less.
Needless to say these people weren't too bright. Keep making your offers and maybe someone will bite. For now we are backing off b/c the market still has a ways to fall. Also there are a lot more foreclosures in the process.
If you are making serious lowballs I would suggest going to the listing agent. You might have a better shot. We've been using the same realtor for years and he is great at "selling" our homes but he has never gotten a deal for us. He even called us one time to tell us about a house that came up for sale. It turned out to be one of "our" old houses that he sold for us. Go figure.
We used to use an agent that was great at finding deals and making offers but not good at selling. Anyway, if she is still in the business she works for Prudential Tropical Realty in Port Richey FL and is Lydia Vanucci(?).
For all my talk with the post I started, I have actually gotten rather picky and have not just written up a bunch of lowballs.
We made one offer on a house that has been on the market for 9 months with three price reductions:
OLP: 350
CLP: 319 with a $4k credit for paint.
Our offer: $279 no credit. They countered with $314. What a joke? I mean - we offered 30 day close, as-is, no financing contingency and they just countered with their paint credit. Oh well. I didn't even really think that was so much of a lowball.
Surprise, surprise. The house is still on the market. Their agent has contacted us to see if we are still interested. Not sure - it is a great house, but needs a lot of work. At one point, I was ready to put in that work, but now I'm not so sure....
We're having the same experience as the other posters. We've made offers on three houses so far (in a period of about 2 months), just made an offer on a fourth and not expecting anything to come of it. All the offers have been fair market offers based on recent comps and no contingencies, quick closing. All the homes are still for sale. It's frustrating and I don't even consider our offers true "lowball" offers since they are in line with the comps.
i started monitoring house prices in tampa around a 16 months ago. at first i was pretty excited because if you compare any florida real estate with prices in london uk they seem very attractive.
consider that i live in a 3 bed 1200sq ft apartment with a tiny garden, very poorly finished (though the tradesmen might beg to differ), 4 miles from london city centre, in an average to good area. $1 100 000,00. at the height of the boom you might have paid $400k for my place in south tampa.
my search has been for a property in north tampa with 2 acres or more. with or without an old house. what is interesting is to see how many of the places listed back then are still on the market. the frightening thing is to see how their asking prices have dropped. many have dropped 50% and are still rotting on the shelf. what would have been considered an incredibly obnoxious offer 15 months ago would be excepted by many in a heartbeat today.
who's to say that they won't fall by the same margin in the foreseeable future? many of the fundamentals are pointing in that direction. i however am still finding realtors who are reluctant to present lowballs. i think i am just going to go about presenting offers myself and when the time is right i will get a real estate attorney to advise on the legal aspects, closing etc.
Not all of us sellers are not getting it!!! I listed my home last week well below comps ---almost 20k below them with the same or more square footage, 1 acre of land, and home under 5 years old. Home in perfect, perfect condition. I priced my home to sell it and there are some of us sellers out there who DO GET that this is a buyers market. I'm one of them!!
Not all of us sellers are not getting it!!! I listed my home last week well below comps ---almost 20k below them with the same or more square footage, 1 acre of land, and home under 5 years old. Home in perfect, perfect condition. I priced my home to sell it and there are some of us sellers out there who DO GET that this is a buyers market. I'm one of them!!
I'm sure you will sell quickly - wish we could find a seller like that and I'm sure you'd be happy for a buyer like us. Good luck to you.
Not all of us sellers are not getting it!!! I listed my home last week well below comps ---almost 20k below them with the same or more square footage, 1 acre of land, and home under 5 years old. Home in perfect, perfect condition. I priced my home to sell it and there are some of us sellers out there who DO GET that this is a buyers market. I'm one of them!!
We did the same thing and STILL got low ball offers. This is a problem sellers are having. We priced our house well below the comps to sell quickly, and the offers we got were SO FAR below our asking it was crazy.
So the question becomes, do you price your house to sell? Or price it high and the low ball offer becomes what you can afford to sell?
So the question becomes, do you price your house to sell? Or price it high and the low ball offer becomes what you can afford to sell?
That depends on several personal factors. Without knowing it, I suggest price it to sell. But the correct answer depends on your reserve price relative to the comps sold price and your time frame.
If you are not desperate and would like to take chances, you may price high. If your reserve price is too close to the comps sold price, then you may also price high because if you price to sell, then you won't get your reserve price.
But remember, if you price high, it will take longer to sell and you may not get your reserve price after all. That's why I suggest price to sell.
Even with so many inventory, when I shop for houses, my agent and I can feel which homes will be sold quickly. These homes will usually get 95% or higher to the listing prices.
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.
