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I just read a great (albeit tongue-in-cheek) article in the New York Times that really captures both sides of the real estate equation -- the POV of the buyer and the seller in this market:
well the thing is the buyer can simply move on to the next house, but the seller doesn't have another buyer to make an offer, i guess that's why they call it a buyer's market
Pretty funny. Of course, national numbers have no relevance to a local home purchase and touting them only makes a buyer look uninformed. And mentioning the NAR as a reliable source... LOL!
I purchased a house in 1999 and I wrote a letter to the sellers. They wanted me to buy the house for the tax assessed value - which was a pretty good deal but the appraised value came in about 5K lower than the tax assessed value. I wrote a letter to them explaining how they should go ahead and sell to me for 5K less and I backed it up with some research. This is in Oklahoma - a disclosure state - so I was able to give them some comparable sales in the neighborhood without the use of a realtor - the house was FSBO. They sold to me for the lower price. Don't know if my letter had anything to do with it.
Yeah, I purchased a house a couple of months ago. I didn't bargain very hard because I was afraid I wouldn't find another house I wanted. There were gobs of two stories in the nieghborhood I wanted to live in but I don't like two stories. There was only 1 one-story house. I got the seller to come down about 5K. I was afraid to ask for any more off because I didn't want to walk away. The sale matched the comps for the neighborhood so I'm happy with transaction. But I'll always wondering if I should have started the negotiations a little lower.
Quote:
Originally Posted by adlnc07
Lucky people who have so many to choose from.. I just made an offer today on the only house on the market that meets my criteria!
Needless to say I didn't write a letter or go in with a low offer..
Location: Upstate NY native, now living in Houston
663 posts, read 2,264,073 times
Reputation: 216
love it! thanks for posting!
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