1,202,697
I council Buyers to present their highest and best offer if we feel the property is worth it. The higher-end property seems to go through the expected process but even these seem to be going over asking. I also counsel Sellers to avoid the temptation to price higher. Let the buyers bid it up.
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Kathleen Daniels, Prob...
San Jose, CA
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Steve Higgins
Kelowna, BC
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Debe Maxwell, CRS
Charlotte, NC
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Steffy Hristova
Tempe, AZ
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Richie Alan Naggar
Riverside, CA
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Susie Kay
Plano, TX
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Michael Jacobs
Pasadena, CA
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Bob "RealMan" Timm
Minot, ND
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Doug Dawes
Topsfield, MA
4,584,596
Regardless of market, it seems many types of buyers exist: some are successful and others are left behind. Finding clients who are truly motivated and well-prepared to move is a good plan.
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Kathleen Daniels, Prob...
San Jose, CA
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Steve Higgins
Kelowna, BC
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Brenda Mayette
Glenville, NY
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
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Susie Kay
Plano, TX
1,847,911
This is what I found over the last few months looking over solds. Sellers are paying points up the ying-yang (yes a real estate word) in my area. About 4000 minimum. That is really messing up prices. How to price it when the seller will have to pay points? 'Have to' turned out to be 25 to 35% of our closed transactions.
Buyers are still trying to get away with murder but not doing it.
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Candice A. Donofrio
Fort Mohave, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Steffy Hristova
Tempe, AZ
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
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Michael Jacobs
Pasadena, CA
250,399
We still have a buyer's market here in Metro Detroit. If the home is in good condition, and it's priced right, it not going to last long. If a buyer thinks they can low ball they are going to be very disapointed.
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Steve Higgins
Kelowna, BC
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Debe Maxwell, CRS
Charlotte, NC
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Steffy Hristova
Tempe, AZ
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Bob "RealMan" Timm
Minot, ND
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Lyn Sims
Schaumburg, IL
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Richie Alan Naggar
Riverside, CA
509,449
Most sellers like to list above market regardless of price point. Most buyers on the lower end price point pay full price or above for nicer homes.
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Steve Higgins
Kelowna, BC
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Brenda Mayette
Glenville, NY
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Richie Alan Naggar
Riverside, CA
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Susie Kay
Plano, TX
2,403,205
In all my years, even during the oil boom, Minot people have always expected to negotiate a price Richie Alan Naggar
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Kathleen Daniels, Prob...
San Jose, CA
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Steve Higgins
Kelowna, BC
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Debe Maxwell, CRS
Charlotte, NC
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Richie Alan Naggar
Riverside, CA
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Susie Kay
Plano, TX
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Michael Jacobs
Pasadena, CA
6,426,155
Depends on how much they want the property.
I like to price at or below and chase the offers up, rather than that race to the bottom that some folks like to play, so if the seller wants to really sell then they will take my advice.
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Kathleen Daniels, Prob...
San Jose, CA
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Bob "RealMan" Timm
Minot, ND
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Steve Higgins
Kelowna, BC
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Debe Maxwell, CRS
Charlotte, NC
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Richie Alan Naggar
Riverside, CA
3,142,169
New construction homes usually go for full price and resales are negotiated moreso Richie. Buyers are less apt to lowball, though there's always a few that will! Overall List to Sale last month was at 98%.
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Kathleen Daniels, Prob...
San Jose, CA
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Brenda Mayette
Glenville, NY
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Debe Maxwell, CRS
Charlotte, NC
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Richie Alan Naggar
Riverside, CA
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Bob "RealMan" Timm
Minot, ND
963,083
The last few months of market activity for my area show the sales price is 4 - 7% less than the original list price. Days on market have also increased. It will be interesting to see if DOM decreases once we hit spring.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Michael Jacobs
Pasadena, CA
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Richie Alan Naggar
Riverside, CA
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Susie Kay
Plano, TX
5,258,986
We see them at market value with multiple Offers running up the price in bidding wars OR...
Sellers pricing too high and then the property just sits on the market. Even with the extremely tight inventory, buyers don't always want to pay well over list when it starts out too high.
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Kathleen Daniels, Prob...
San Jose, CA
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
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Steve Higgins
Kelowna, BC
1,507,073
I've seen many a buyer, even in low inventory markets, try to "get a deal". I'm surprised how many of them, and how many agents, think it's a buyer's market. I suspect that pricing higher to accomodate for the "you should take 15k off for my offer" will be coming soon. It's something I've already discussed with my clients a few weeks ago.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
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Richie Alan Naggar
Riverside, CA
7,871,831
We still have a strong market.
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
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Steve Higgins
Kelowna, BC
853,912
In my experience, buyers like to negotiate. We have some pockets experiencing multiple offers. Usually after one failed attempt, buyers have more aggressive proposals IF they really want the house. Sellers are typically going higher & most expect to negotiate.
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Richie Alan Naggar
Riverside, CA
665,110
We have a severe shortage of inventory in the Phoenix metro area. And still a very strong Buyer demand. Many properties, if priced right, get more than one offer, sometimes 5-6 offers.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Richie Alan Naggar
Riverside, CA
634,125
If a property is priced right or aggressive they may get multiple offers depending on location. Most properties sell w/ in 97% of list price if listed at market value. Our active inventory is very low currently.
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Debe Maxwell, CRS
Charlotte, NC
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Richie Alan Naggar
Riverside, CA
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Bob "RealMan" Timm
Minot, ND
3,350,764
Buyers are paying more than asking price in my area. This year, I only had one offer come in below. The buyer was an investor. The buyer was told absolutely no way will this property be sold for less than list price. The Investor came back with a full price offer.
My seller clients follow my recommendation on pricing - which is at the sweet spot factoring the comps and condition of the property. It works.
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
469,510
Most of our residential listing are going for FP or higher.
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
231,948
In my market, seller will price it high and it will sit for months. Buyers tend to bid low.
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
2,195,834
Not that much has changed in this area of the transaction as we all strive determine Market Value
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
1,390,113
Overwhelmingly, most sellers I've worked with want to price a little high "to make room for negotiations" and most buyers want to offer a little low for the same reasons. All the explanations in the world of why that's a bad strategy have failed me so far!
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
2,459,743
71% of all homes sold in my town last year sold below list price. 15% at list price and the rest above. So the majority of buyers and sellers counter and negotiate.
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
921,504
Real estate agents have injured sellers by incessant repeating 'Low Inventory."
This encourages sellers to stand firm. My past stats show the seller who endured did get more money. So, DOM is increasing.
The smart agent helps the selling by understanding the marketplace and getting the buying of the seller to strategically leverage the expectation of anticipant buyers.
Buyer are OBLIGATED to attempt to get a deal (often hoping the appraiser is their secret ally) however the seller is holding all the cards if they manage their agent correctly.
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
1,242,204
People are willing to pay going price and pay a little over. Only stupid sellers list higher. Most deliberately price it low and many raise the price they want to sell after open house.
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
808,779
It all depends on how the home is priced, are there other offers, how long has it been on the market etc. Most homes are priced to sell however you do have sellers that want to price higher to test the waters.
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
1,057,674
Oh they totally negotiate. And yeah, sellers will nudge up expecting it.
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
3,416,038
I am seeing both. Some homes in specific areas sell for full price or more when priced right. Others are getting offers no matter the price. I like to build in a cushion for offers.
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Bob "RealMan" Timm
Minot, ND
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Richie Alan Naggar
Riverside, CA
1,555,100
Both, although I share with sellers, over pricing to compensate is stupid because it makes you sit longer and your REALTOR can negotiate your price at asking if the comps support it; there would be no basis to offer lower.
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Richie Alan Naggar
Riverside, CA
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Thomas J. Nelson, REAL...
La Jolla, CA
766,969
It is now, always has been and always will be a case by case event.
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Richie Alan Naggar
Riverside, CA
5,773,367
Richie,
Each market differs, it depends on who's who and where who's who lives! A
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Richie Alan Naggar
Riverside, CA