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  • November 6, 2009 at 5:47 PM #478836
    urbanrealtor
    Participant

    [quote=patb]The reason i’m asking, is i’m thinking of making
    an all cash offer on a decent place but the agents
    are “We have several outstanding offers”, well
    that’s fine, i’m not getting into a bidding contest.

    I’d rather bid low all cash and lose out then
    overbid and get hosed, especially in a deflationary environment.[/quote]
    Not all market segments are deflationary right now.
    Honestly only a few are.

    I just had a client who made an offer on a short back in may at $440k for large house in Clairemont (like 1900 sf). We finally got approval and they got cold feet.

    The other night he calls me to find out prices on some places he has noticed for sale. A similar place now runs about $480k.

    Considering that the monthlies are comparable with rents and supported by area income at that price, I consider those prices unlikely to drop any time soon.

    Of course a major economic event could change this, but the stability is suggested by standard and demonstrable history going back to the 1940s.

    The point is that all offers should be based on solid number-crunching.

    November 6, 2009 at 9:13 PM #478700
    SD Realtor
    Participant

    One thing that buyers have to always remember is that they can do whatever they want to do. I call the listing agent to find out if they have any offers on a home my buyer is interested in, and then convey that information to the buyer.

    It is UP TO THE BUYER to tell me what they want to offer.

    You have to recall that market condition drives alot of the behavior as well. In conditions like we have right now agents may indeed have several offers. Now alot of those offers may indeed suck. Alot of those offers may be present when I make the call, BUT may be gone two days after I make that call.

    Similarly listing agents indeed risk scaring off buyers as well when they say they have several offers. Many buyers I know simply walk when a listing they are interested in comes back with many offers.

    When people ask me, do I think the listing agent is full of sh-t or not, I do give them my opinion. In many cases, I run into agents I have worked with before and I have a good feel for the transaction, in other cases I do not. So it is kind of a crap shoot. The market conditions, in my opinion, help me determine if the listing agent is jerking us around or not. Also as previously pointed out, a better offer is not a higher offer all the time. We had a condo in Kearny Mesa recently that came in at 135k cash and a 12 day escrow and we had offers at 145k. We took the lower offer. We recently had another condo in RB where we had 9 offers in the first few days. The highest and best was on the verge of being accepted, but then exhibited behavior that made us pass on it and we took the next best offer.

    None of this is to defend anyone. You should do what works for you as a buyer. Set your limits, set your strategy but moreover, know your market. If you are shopping for a home at the present, be prepared to deal with a pretty active market. Quality listings are getting alot of offers.

    Just remember, nobody is forcing you to buy. Sit it out if you don’t like the climate.

    November 6, 2009 at 9:13 PM #479235
    SD Realtor
    Participant

    One thing that buyers have to always remember is that they can do whatever they want to do. I call the listing agent to find out if they have any offers on a home my buyer is interested in, and then convey that information to the buyer.

    It is UP TO THE BUYER to tell me what they want to offer.

    You have to recall that market condition drives alot of the behavior as well. In conditions like we have right now agents may indeed have several offers. Now alot of those offers may indeed suck. Alot of those offers may be present when I make the call, BUT may be gone two days after I make that call.

    Similarly listing agents indeed risk scaring off buyers as well when they say they have several offers. Many buyers I know simply walk when a listing they are interested in comes back with many offers.

    When people ask me, do I think the listing agent is full of sh-t or not, I do give them my opinion. In many cases, I run into agents I have worked with before and I have a good feel for the transaction, in other cases I do not. So it is kind of a crap shoot. The market conditions, in my opinion, help me determine if the listing agent is jerking us around or not. Also as previously pointed out, a better offer is not a higher offer all the time. We had a condo in Kearny Mesa recently that came in at 135k cash and a 12 day escrow and we had offers at 145k. We took the lower offer. We recently had another condo in RB where we had 9 offers in the first few days. The highest and best was on the verge of being accepted, but then exhibited behavior that made us pass on it and we took the next best offer.

    None of this is to defend anyone. You should do what works for you as a buyer. Set your limits, set your strategy but moreover, know your market. If you are shopping for a home at the present, be prepared to deal with a pretty active market. Quality listings are getting alot of offers.

    Just remember, nobody is forcing you to buy. Sit it out if you don’t like the climate.

    November 6, 2009 at 9:13 PM #479538
    SD Realtor
    Participant

    One thing that buyers have to always remember is that they can do whatever they want to do. I call the listing agent to find out if they have any offers on a home my buyer is interested in, and then convey that information to the buyer.

    It is UP TO THE BUYER to tell me what they want to offer.

    You have to recall that market condition drives alot of the behavior as well. In conditions like we have right now agents may indeed have several offers. Now alot of those offers may indeed suck. Alot of those offers may be present when I make the call, BUT may be gone two days after I make that call.

    Similarly listing agents indeed risk scaring off buyers as well when they say they have several offers. Many buyers I know simply walk when a listing they are interested in comes back with many offers.

    When people ask me, do I think the listing agent is full of sh-t or not, I do give them my opinion. In many cases, I run into agents I have worked with before and I have a good feel for the transaction, in other cases I do not. So it is kind of a crap shoot. The market conditions, in my opinion, help me determine if the listing agent is jerking us around or not. Also as previously pointed out, a better offer is not a higher offer all the time. We had a condo in Kearny Mesa recently that came in at 135k cash and a 12 day escrow and we had offers at 145k. We took the lower offer. We recently had another condo in RB where we had 9 offers in the first few days. The highest and best was on the verge of being accepted, but then exhibited behavior that made us pass on it and we took the next best offer.

    None of this is to defend anyone. You should do what works for you as a buyer. Set your limits, set your strategy but moreover, know your market. If you are shopping for a home at the present, be prepared to deal with a pretty active market. Quality listings are getting alot of offers.

    Just remember, nobody is forcing you to buy. Sit it out if you don’t like the climate.

    November 6, 2009 at 9:13 PM #478871
    SD Realtor
    Participant

    One thing that buyers have to always remember is that they can do whatever they want to do. I call the listing agent to find out if they have any offers on a home my buyer is interested in, and then convey that information to the buyer.

    It is UP TO THE BUYER to tell me what they want to offer.

    You have to recall that market condition drives alot of the behavior as well. In conditions like we have right now agents may indeed have several offers. Now alot of those offers may indeed suck. Alot of those offers may be present when I make the call, BUT may be gone two days after I make that call.

    Similarly listing agents indeed risk scaring off buyers as well when they say they have several offers. Many buyers I know simply walk when a listing they are interested in comes back with many offers.

    When people ask me, do I think the listing agent is full of sh-t or not, I do give them my opinion. In many cases, I run into agents I have worked with before and I have a good feel for the transaction, in other cases I do not. So it is kind of a crap shoot. The market conditions, in my opinion, help me determine if the listing agent is jerking us around or not. Also as previously pointed out, a better offer is not a higher offer all the time. We had a condo in Kearny Mesa recently that came in at 135k cash and a 12 day escrow and we had offers at 145k. We took the lower offer. We recently had another condo in RB where we had 9 offers in the first few days. The highest and best was on the verge of being accepted, but then exhibited behavior that made us pass on it and we took the next best offer.

    None of this is to defend anyone. You should do what works for you as a buyer. Set your limits, set your strategy but moreover, know your market. If you are shopping for a home at the present, be prepared to deal with a pretty active market. Quality listings are getting alot of offers.

    Just remember, nobody is forcing you to buy. Sit it out if you don’t like the climate.

    November 6, 2009 at 9:13 PM #479318
    SD Realtor
    Participant

    One thing that buyers have to always remember is that they can do whatever they want to do. I call the listing agent to find out if they have any offers on a home my buyer is interested in, and then convey that information to the buyer.

    It is UP TO THE BUYER to tell me what they want to offer.

    You have to recall that market condition drives alot of the behavior as well. In conditions like we have right now agents may indeed have several offers. Now alot of those offers may indeed suck. Alot of those offers may be present when I make the call, BUT may be gone two days after I make that call.

    Similarly listing agents indeed risk scaring off buyers as well when they say they have several offers. Many buyers I know simply walk when a listing they are interested in comes back with many offers.

    When people ask me, do I think the listing agent is full of sh-t or not, I do give them my opinion. In many cases, I run into agents I have worked with before and I have a good feel for the transaction, in other cases I do not. So it is kind of a crap shoot. The market conditions, in my opinion, help me determine if the listing agent is jerking us around or not. Also as previously pointed out, a better offer is not a higher offer all the time. We had a condo in Kearny Mesa recently that came in at 135k cash and a 12 day escrow and we had offers at 145k. We took the lower offer. We recently had another condo in RB where we had 9 offers in the first few days. The highest and best was on the verge of being accepted, but then exhibited behavior that made us pass on it and we took the next best offer.

    None of this is to defend anyone. You should do what works for you as a buyer. Set your limits, set your strategy but moreover, know your market. If you are shopping for a home at the present, be prepared to deal with a pretty active market. Quality listings are getting alot of offers.

    Just remember, nobody is forcing you to buy. Sit it out if you don’t like the climate.

    November 7, 2009 at 8:35 AM #478938
    greekfire
    Participant

    [quote=CricketOnTheHearth]I explored renting from a woman who turned out to be a Realtor; she said she would “have to consult with her clients” regarding my offers before accepting them, implying she was renting the place on behalf of the owners.

    Turns out, looking the joint up in SD County Tax/Treas website, she is the owner.

    Hmmm.

    I did not rent the place.[/quote]

    She used the old “resort to higher authority” negotiating tactic on you. Similar uses are “I have to check with my wife/husband”, or “I have to run it by the ‘board of directors'”. Here’s some info on it:
    http://www.rdawson.com/articles/higher-authority.html

    November 7, 2009 at 8:35 AM #479387
    greekfire
    Participant

    [quote=CricketOnTheHearth]I explored renting from a woman who turned out to be a Realtor; she said she would “have to consult with her clients” regarding my offers before accepting them, implying she was renting the place on behalf of the owners.

    Turns out, looking the joint up in SD County Tax/Treas website, she is the owner.

    Hmmm.

    I did not rent the place.[/quote]

    She used the old “resort to higher authority” negotiating tactic on you. Similar uses are “I have to check with my wife/husband”, or “I have to run it by the ‘board of directors'”. Here’s some info on it:
    http://www.rdawson.com/articles/higher-authority.html

    November 7, 2009 at 8:35 AM #479304
    greekfire
    Participant

    [quote=CricketOnTheHearth]I explored renting from a woman who turned out to be a Realtor; she said she would “have to consult with her clients” regarding my offers before accepting them, implying she was renting the place on behalf of the owners.

    Turns out, looking the joint up in SD County Tax/Treas website, she is the owner.

    Hmmm.

    I did not rent the place.[/quote]

    She used the old “resort to higher authority” negotiating tactic on you. Similar uses are “I have to check with my wife/husband”, or “I have to run it by the ‘board of directors'”. Here’s some info on it:
    http://www.rdawson.com/articles/higher-authority.html

    November 7, 2009 at 8:35 AM #478770
    greekfire
    Participant

    [quote=CricketOnTheHearth]I explored renting from a woman who turned out to be a Realtor; she said she would “have to consult with her clients” regarding my offers before accepting them, implying she was renting the place on behalf of the owners.

    Turns out, looking the joint up in SD County Tax/Treas website, she is the owner.

    Hmmm.

    I did not rent the place.[/quote]

    She used the old “resort to higher authority” negotiating tactic on you. Similar uses are “I have to check with my wife/husband”, or “I have to run it by the ‘board of directors'”. Here’s some info on it:
    http://www.rdawson.com/articles/higher-authority.html

    November 7, 2009 at 8:35 AM #479607
    greekfire
    Participant

    [quote=CricketOnTheHearth]I explored renting from a woman who turned out to be a Realtor; she said she would “have to consult with her clients” regarding my offers before accepting them, implying she was renting the place on behalf of the owners.

    Turns out, looking the joint up in SD County Tax/Treas website, she is the owner.

    Hmmm.

    I did not rent the place.[/quote]

    She used the old “resort to higher authority” negotiating tactic on you. Similar uses are “I have to check with my wife/husband”, or “I have to run it by the ‘board of directors'”. Here’s some info on it:
    http://www.rdawson.com/articles/higher-authority.html

    November 7, 2009 at 11:01 AM #479644
    sdrealtor
    Participant

    Just curious as to when teh last time anyone walked into a car showroom, electronics store, furniture store or any retail outlet for that matter and the salesperson told them what their wholesale cost was and how cheaply they could buy something?

    November 7, 2009 at 11:01 AM #478808
    sdrealtor
    Participant

    Just curious as to when teh last time anyone walked into a car showroom, electronics store, furniture store or any retail outlet for that matter and the salesperson told them what their wholesale cost was and how cheaply they could buy something?

    November 7, 2009 at 11:01 AM #479422
    sdrealtor
    Participant

    Just curious as to when teh last time anyone walked into a car showroom, electronics store, furniture store or any retail outlet for that matter and the salesperson told them what their wholesale cost was and how cheaply they could buy something?

    November 7, 2009 at 11:01 AM #479343
    sdrealtor
    Participant

    Just curious as to when teh last time anyone walked into a car showroom, electronics store, furniture store or any retail outlet for that matter and the salesperson told them what their wholesale cost was and how cheaply they could buy something?

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