selling at loss, Anyone?

[sd_owner]

Cabal,

Among buyers who make low-ball offers, they may be different. Some buyers look at the comps and mistakenly think your house is worth the same. Other buyers know the value of a house but try to bargain from the basement price.

For the first kind of buyers, there is really nothing you can do, except for a friendly note through their agent that his/her offer price is reasonable if the house is in a poor condition like those of foreclosed homes. They will realize their mistake after a while.

For the 2nd kind of buyers, what I would recommend is to give a counter offer with a price close to your asking price. This will give them a chance to understand that you know the value of a home and will not accept low ball offers so that they can make a 2nd offer if they are serious.

[CA renter]

[quote=CONCHO]For example, if a foreclosure appraises at 500K but a shrewd buyer negotiates a deal at 400K, a follow on buyer for a similar house will baseline his purchase price at 400K, not the correct 500K. In effect you have a circular death spiral in home prices to the benefit of the buyer.

Funny how no one complained about it when it was working the other way around. In a neighborhood of $400K houses, whenever any house on the block sold for $500K, everyone on the block was immediately $100K richer and would tell you all about it every chance they got. I guess it’s just not as much fun on the way down :-([/quote]

Funny! That’s the first thing that came to my mind as well.

When fraudulent transactions and no-down, neg-am loans were used by speculators with no skin in the game, the rising prices of comps were “based on fundamentals.” When prices drop as this fraud is wrung out of the market, somehow prices are “below market.” Funny how that works…

[CA renter]

[quote=CONCHO]For example, if a foreclosure appraises at 500K but a shrewd buyer negotiates a deal at 400K, a follow on buyer for a similar house will baseline his purchase price at 400K, not the correct 500K. In effect you have a circular death spiral in home prices to the benefit of the buyer.

Funny how no one complained about it when it was working the other way around. In a neighborhood of $400K houses, whenever any house on the block sold for $500K, everyone on the block was immediately $100K richer and would tell you all about it every chance they got. I guess it’s just not as much fun on the way down :-([/quote]

Funny! That’s the first thing that came to my mind as well.

When fraudulent transactions and no-down, neg-am loans were used by speculators with no skin in the game, the rising prices of comps were “based on fundamentals.” When prices drop as this fraud is wrung out of the market, somehow prices are “below market.” Funny how that works…

[CA renter]

[quote=CONCHO]For example, if a foreclosure appraises at 500K but a shrewd buyer negotiates a deal at 400K, a follow on buyer for a similar house will baseline his purchase price at 400K, not the correct 500K. In effect you have a circular death spiral in home prices to the benefit of the buyer.

Funny how no one complained about it when it was working the other way around. In a neighborhood of $400K houses, whenever any house on the block sold for $500K, everyone on the block was immediately $100K richer and would tell you all about it every chance they got. I guess it’s just not as much fun on the way down :-([/quote]

Funny! That’s the first thing that came to my mind as well.

When fraudulent transactions and no-down, neg-am loans were used by speculators with no skin in the game, the rising prices of comps were “based on fundamentals.” When prices drop as this fraud is wrung out of the market, somehow prices are “below market.” Funny how that works…

[CA renter]

[quote=CONCHO]For example, if a foreclosure appraises at 500K but a shrewd buyer negotiates a deal at 400K, a follow on buyer for a similar house will baseline his purchase price at 400K, not the correct 500K. In effect you have a circular death spiral in home prices to the benefit of the buyer.

Funny how no one complained about it when it was working the other way around. In a neighborhood of $400K houses, whenever any house on the block sold for $500K, everyone on the block was immediately $100K richer and would tell you all about it every chance they got. I guess it’s just not as much fun on the way down :-([/quote]

Funny! That’s the first thing that came to my mind as well.

When fraudulent transactions and no-down, neg-am loans were used by speculators with no skin in the game, the rising prices of comps were “based on fundamentals.” When prices drop as this fraud is wrung out of the market, somehow prices are “below market.” Funny how that works…

[CA renter]

[quote=CONCHO]For example, if a foreclosure appraises at 500K but a shrewd buyer negotiates a deal at 400K, a follow on buyer for a similar house will baseline his purchase price at 400K, not the correct 500K. In effect you have a circular death spiral in home prices to the benefit of the buyer.

Funny how no one complained about it when it was working the other way around. In a neighborhood of $400K houses, whenever any house on the block sold for $500K, everyone on the block was immediately $100K richer and would tell you all about it every chance they got. I guess it’s just not as much fun on the way down :-([/quote]

Funny! That’s the first thing that came to my mind as well.

When fraudulent transactions and no-down, neg-am loans were used by speculators with no skin in the game, the rising prices of comps were “based on fundamentals.” When prices drop as this fraud is wrung out of the market, somehow prices are “below market.” Funny how that works…

[pemeliza]

“We eventually selected with a local, top producer who was an acquaintance. Only real issue was asking price as we settled on a price higher than what this person recommended.”

Why?

[pemeliza]

“We eventually selected with a local, top producer who was an acquaintance. Only real issue was asking price as we settled on a price higher than what this person recommended.”

Why?

[pemeliza]

“We eventually selected with a local, top producer who was an acquaintance. Only real issue was asking price as we settled on a price higher than what this person recommended.”

Why?

[pemeliza]

“We eventually selected with a local, top producer who was an acquaintance. Only real issue was asking price as we settled on a price higher than what this person recommended.”

Why?

[pemeliza]

“We eventually selected with a local, top producer who was an acquaintance. Only real issue was asking price as we settled on a price higher than what this person recommended.”

Why?

[UCGal]

To the OP –
Can you add more square footage to your existing home? That seems to be the appropriate compromise. It’s a lousy time to sell and there’s potential risk to buying at this point. Can you make the home you already have a home you can stay in long term?

[UCGal]

To the OP –
Can you add more square footage to your existing home? That seems to be the appropriate compromise. It’s a lousy time to sell and there’s potential risk to buying at this point. Can you make the home you already have a home you can stay in long term?

[UCGal]

To the OP –
Can you add more square footage to your existing home? That seems to be the appropriate compromise. It’s a lousy time to sell and there’s potential risk to buying at this point. Can you make the home you already have a home you can stay in long term?

[UCGal]

To the OP –
Can you add more square footage to your existing home? That seems to be the appropriate compromise. It’s a lousy time to sell and there’s potential risk to buying at this point. Can you make the home you already have a home you can stay in long term?

[Author]

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