NYTimes: Sales slow as buyers get Picky

[patb]

http://www.nytimes.com/2010/06/17/business/economy/17slump.html?hp

ven the lowest home mortgage rates in decades are not doing much to invite deals. The Mortgage Bankers Association said Wednesday that applications for loans to buy houses were down by a third compared with last year. Applications are back to the level of the mid-1990s, when the country’s housing market was smaller.

Against such a backdrop of misery, buyers are empowered — and are taking full advantage.

John Porter Simons, a Seattle software engineer, thought he had a couple willing to pay $340,000 for his house. But they asked for $24,000 worth of work, most of which involved waterproofing the basement. “It was totally irrational,” said Mr. Simons. “My basement has never flooded. I live on a hill.”

[scaredyclassic]

i like the redfin rep’s comments; “buyers must have learned these moves at WWF”. basically, buyers trying to strongarm sellers post-inspection or walking.

one of the reader comments says this is highly unethical.

is it? frankly, i feel like it’s not a bad tactic. get an offer accepted, then netgotiate down from there, make the seller sweat, take it off market in a declining market. make them get nervous about starting over.

is this a client out of control? I haven’t done it yet but I certainly feel like I wouldn’t be averse to doing it…

[scaredyclassic]

i like the redfin rep’s comments; “buyers must have learned these moves at WWF”. basically, buyers trying to strongarm sellers post-inspection or walking.

one of the reader comments says this is highly unethical.

is it? frankly, i feel like it’s not a bad tactic. get an offer accepted, then netgotiate down from there, make the seller sweat, take it off market in a declining market. make them get nervous about starting over.

is this a client out of control? I haven’t done it yet but I certainly feel like I wouldn’t be averse to doing it…

[scaredyclassic]

i like the redfin rep’s comments; “buyers must have learned these moves at WWF”. basically, buyers trying to strongarm sellers post-inspection or walking.

one of the reader comments says this is highly unethical.

is it? frankly, i feel like it’s not a bad tactic. get an offer accepted, then netgotiate down from there, make the seller sweat, take it off market in a declining market. make them get nervous about starting over.

is this a client out of control? I haven’t done it yet but I certainly feel like I wouldn’t be averse to doing it…

[scaredyclassic]

i like the redfin rep’s comments; “buyers must have learned these moves at WWF”. basically, buyers trying to strongarm sellers post-inspection or walking.

one of the reader comments says this is highly unethical.

is it? frankly, i feel like it’s not a bad tactic. get an offer accepted, then netgotiate down from there, make the seller sweat, take it off market in a declining market. make them get nervous about starting over.

is this a client out of control? I haven’t done it yet but I certainly feel like I wouldn’t be averse to doing it…

[scaredyclassic]

i like the redfin rep’s comments; “buyers must have learned these moves at WWF”. basically, buyers trying to strongarm sellers post-inspection or walking.

one of the reader comments says this is highly unethical.

is it? frankly, i feel like it’s not a bad tactic. get an offer accepted, then netgotiate down from there, make the seller sweat, take it off market in a declining market. make them get nervous about starting over.

is this a client out of control? I haven’t done it yet but I certainly feel like I wouldn’t be averse to doing it…

[1stimebuy]

I’m in escrow… and got a appraisal done. Appraisal came a bit lower than the agreed price (which happens to be my initial offer price) which is not too surprising since I knew I was not getting a real deal either. However, soon after the appraisal report, the bank & the appraiser have been saying that I would be a fool not to try a renegotiation, that they don’t want me to overpay. I was happy to find a home 2 weeks ago, now I’m trying to talk to myself that walking off should always be an option…

[1stimebuy]

I’m in escrow… and got a appraisal done. Appraisal came a bit lower than the agreed price (which happens to be my initial offer price) which is not too surprising since I knew I was not getting a real deal either. However, soon after the appraisal report, the bank & the appraiser have been saying that I would be a fool not to try a renegotiation, that they don’t want me to overpay. I was happy to find a home 2 weeks ago, now I’m trying to talk to myself that walking off should always be an option…

[1stimebuy]

I’m in escrow… and got a appraisal done. Appraisal came a bit lower than the agreed price (which happens to be my initial offer price) which is not too surprising since I knew I was not getting a real deal either. However, soon after the appraisal report, the bank & the appraiser have been saying that I would be a fool not to try a renegotiation, that they don’t want me to overpay. I was happy to find a home 2 weeks ago, now I’m trying to talk to myself that walking off should always be an option…

[1stimebuy]

I’m in escrow… and got a appraisal done. Appraisal came a bit lower than the agreed price (which happens to be my initial offer price) which is not too surprising since I knew I was not getting a real deal either. However, soon after the appraisal report, the bank & the appraiser have been saying that I would be a fool not to try a renegotiation, that they don’t want me to overpay. I was happy to find a home 2 weeks ago, now I’m trying to talk to myself that walking off should always be an option…

[1stimebuy]

I’m in escrow… and got a appraisal done. Appraisal came a bit lower than the agreed price (which happens to be my initial offer price) which is not too surprising since I knew I was not getting a real deal either. However, soon after the appraisal report, the bank & the appraiser have been saying that I would be a fool not to try a renegotiation, that they don’t want me to overpay. I was happy to find a home 2 weeks ago, now I’m trying to talk to myself that walking off should always be an option…

[sdrealtor]

It all depends upon what they used as comps in the appraisal. If they are really comparable you may want to. If they are inferior and its close, it could be worth the agreed price and just not have any legitimate comps to justify it. This happens fairly often. I’d look closely at the comps they used for the appraisal and then decide.

[sdrealtor]

It all depends upon what they used as comps in the appraisal. If they are really comparable you may want to. If they are inferior and its close, it could be worth the agreed price and just not have any legitimate comps to justify it. This happens fairly often. I’d look closely at the comps they used for the appraisal and then decide.

[sdrealtor]

It all depends upon what they used as comps in the appraisal. If they are really comparable you may want to. If they are inferior and its close, it could be worth the agreed price and just not have any legitimate comps to justify it. This happens fairly often. I’d look closely at the comps they used for the appraisal and then decide.

[sdrealtor]

It all depends upon what they used as comps in the appraisal. If they are really comparable you may want to. If they are inferior and its close, it could be worth the agreed price and just not have any legitimate comps to justify it. This happens fairly often. I’d look closely at the comps they used for the appraisal and then decide.

[Author]

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