Comments for Buyers Advantage http://buyers-advantage.net You have the advantage with Buyers Advantage Sat, 19 Nov 2011 17:45:54 +0000 hourly 1 http://wordpress.org/?v=3.2.1 Comment on How Does the Current Colorado Real Estate Bust Compare? by Judith Clausen http://buyers-advantage.net/2011/10/11/how-does-the-current-colorado-real-estate-bust-compare/#comment-5408 Judith Clausen Sat, 19 Nov 2011 17:45:54 +0000 http://buyers-advantage.bluefireblogs.com/?p=1281#comment-5408 My sympathies, Carol. I only work in the Denver market, but the situation on the Western Slope isn't too different. Can you drop the price any? Every house has a selling price, even if it's much lower than you thought it should sell for. There's a long-term selling price, which is what your house is priced at now. That's when you don't care how long it takes, like somebody who wants to buy but wants a certain price before they start looking. They can afford to wait. Then there's a 6 month price, the price at which it will sell in six months. This is the price that a lot of sellers list their homes for. And they'll wait six months to sell it. Then there's a "sell it tomorrow" price, low enough to draw a buyer right away. If you really want to sell quickly, price it at the "sell it tomorrow" price. Ask your realtor what that price would be on your house. Yes, you'll be shocked, but you'll get your house sold. As for what people say about it, that it's worth what you're asking, don't take that too seriously. It WAS worth what you're asking, but that's an asking price from before 2008 when things WERE selling. You need to find out today's value. And that's where your realtor comes in. Good luck! My sympathies, Carol. I only work in the Denver market, but the situation on the Western Slope isn’t too different. Can you drop the price any? Every house has a selling price, even if it’s much lower than you thought it should sell for. There’s a long-term selling price, which is what your house is priced at now. That’s when you don’t care how long it takes, like somebody who wants to buy but wants a certain price before they start looking. They can afford to wait. Then there’s a 6 month price, the price at which it will sell in six months. This is the price that a lot of sellers list their homes for. And they’ll wait six months to sell it. Then there’s a “sell it tomorrow” price, low enough to draw a buyer right away. If you really want to sell quickly, price it at the “sell it tomorrow” price. Ask your realtor what that price would be on your house. Yes, you’ll be shocked, but you’ll get your house sold. As for what people say about it, that it’s worth what you’re asking, don’t take that too seriously. It WAS worth what you’re asking, but that’s an asking price from before 2008 when things WERE selling. You need to find out today’s value. And that’s where your realtor comes in. Good luck!

]]> Comment on How Does the Current Colorado Real Estate Bust Compare? by carol whiteman http://buyers-advantage.net/2011/10/11/how-does-the-current-colorado-real-estate-bust-compare/#comment-5389 carol whiteman Fri, 18 Nov 2011 23:28:28 +0000 http://buyers-advantage.bluefireblogs.com/?p=1281#comment-5389 How about the Western Slope of Colorado around Grand Junction? I own a home in Fruita, Colorado that has been on the market for over two years. We've tried two realtors and the price is well below our home's value. There is no traffic there what so ever. We haven't even had one offer. Not one. Everyone who has looked at our home in two years has said it's worth the price and it's emmaculate. However, no one is buying. They can't because they can't sell THEIR homes. How about the Western Slope of Colorado around Grand Junction? I own a home in Fruita, Colorado that has
been on the market for over two years. We’ve tried two realtors and the price is well below our home’s value.
There is no traffic there what so ever. We haven’t even had one offer. Not one. Everyone who has looked at our home in two years has said it’s worth the price and it’s emmaculate. However, no one is buying. They can’t because they can’t sell THEIR homes.

]]> Comment on Should You Make a Lowball Offer? by Judith Clausen http://buyers-advantage.net/2010/10/07/should-you-make-a-lowball-offer/#comment-298 Judith Clausen Wed, 13 Oct 2010 04:39:29 +0000 http://buyers-advantage.bluefireblogs.com/?p=819#comment-298 Susana is in the same business, so if you ever need an <a href="http://www.steamboatgal.com/" rel="nofollow">agent in Steamboat</a>, she's your gal. Susana is in the same business, so if you ever need an agent in Steamboat, she’s your gal.

]]> Comment on Should You Make a Lowball Offer? by Susana Field, The Steamboat Gal http://buyers-advantage.net/2010/10/07/should-you-make-a-lowball-offer/#comment-220 Susana Field, The Steamboat Gal Fri, 08 Oct 2010 13:26:58 +0000 http://buyers-advantage.bluefireblogs.com/?p=819#comment-220 It definately can be frustrating, especially as an Exclusive Buyer Agent, to see a client lose out on a home that fits their needs and pocketbook perfectly. Especially when we know that finding another home like it, priced so well, is going to be hard to replicate despite all the current available inventory of homes. I represented two sets of buyers recently who made low-ball offers on already greatly discounted homes, only to find themselves in multiple offer situations and lose. I know it is going to be hard to find another home that fits their needs so well, and at such a great price, again. But for some reason both groups held back, even when they knew other offers were on the table and they had the opportunity to strenghten their own offers. I really don't know if it was an affordability issue. But if it was an affordability issue, I'm afraid they will now either need to lower their expectations of what they can buy for X, or hope that the market continues to drop. Steamboat Springs, Colorado is an expensive place to buy a home, even at today's lowered prices, so sticker shock is common here. But maybe not so much in Denver? If the prices continue to drop, will they become less "shocking" in general, and allow for more buyers? Or, if the market does continue to drop, will that just erode their comfort level with making a purchase at all? And maybe that's what's going on - jitters about the whole idea of purchasing something in the first place. It's a huge commitment and leap of faith in these uncertain times. I wrote a similar blog post about making an offer on a Short Sale: http://www.steamboatgal.com/index.php/tips-to-buying-a-steamboat-short-sale/ I don't know how much of it is a question of personal trust. I know it can certainly feel that way, but that is something I'm beginning to explore closely. You said you interview your clients to find out if they will trust your advice. How do you do that? What sorts of questions do you ask? Thanks for your article - much food for thought. It definately can be frustrating, especially as an Exclusive Buyer Agent, to see a client lose out on a home that fits their needs and pocketbook perfectly. Especially when we know that finding another home like it, priced so well, is going to be hard to replicate despite all the current available inventory of homes.

I represented two sets of buyers recently who made low-ball offers on already greatly discounted homes, only to find themselves in multiple offer situations and lose. I know it is going to be hard to find another home that fits their needs so well, and at such a great price, again.

But for some reason both groups held back, even when they knew other offers were on the table and they had the opportunity to strenghten their own offers.

I really don’t know if it was an affordability issue. But if it was an affordability issue, I’m afraid they will now either need to lower their expectations of what they can buy for X, or hope that the market continues to drop. Steamboat Springs, Colorado is an expensive place to buy a home, even at today’s lowered prices, so sticker shock is common here. But maybe not so much in Denver?

If the prices continue to drop, will they become less “shocking” in general, and allow for more buyers? Or, if the market does continue to drop, will that just erode their comfort level with making a purchase at all? And maybe that’s what’s going on – jitters about the whole idea of purchasing something in the first place. It’s a huge commitment and leap of faith in these uncertain times.

I wrote a similar blog post about making an offer on a Short Sale:
http://www.steamboatgal.com/index.php/tips-to-buying-a-steamboat-short-sale/

I don’t know how much of it is a question of personal trust. I know it can certainly feel that way, but that is something I’m beginning to explore closely. You said you interview your clients to find out if they will trust your advice. How do you do that? What sorts of questions do you ask?

Thanks for your article – much food for thought.

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