Port Orange Real Estate : Low Ball Offers are not GOOD !

Often, buyers test the market when they first start looking for a home. When the Market first started to fall and there was an explosion of Short Sales and Foreclosures, Low Ball offers made sense. There were so many homes on the market that you had the time and opportunity to make the Best Buy you could.

With the Market starting to claw its way back up, the time advantage is not there. Short Sales are closing much faster, making them much more attractive to all buyers and not just investors. Banks have started refurbishing some REO homes with paint, carpet and some appliances. The investors are starting to get pushed out of the market, and the serious buyers are stepping in.

Homes that have been priced correctly in the Market, are going under contract quickly. The contracts are coming in much closer to the asking price, often with more than one offer. Is there room to negotiate? Yes. If the seller has priced the house above the market, it will be on the market longer and the Low Ball offer will correct the difference.

Suggestions :
Buyers-
1- Make a serious offer if you are interested in a property.
2- Watch the community you are looking in and see what the other homes are going for.
3-  Be prepared, have a preapproval letter from a Lender and know what price home you can afford.
4- When a home goes on the market in your area of interest, make an appointment and go see it.
Sellers-
1- Speak to your Realtor about a fair price.
2- If you have not gotten an offer in 2 weeks, consider a Price Reduction.
3- Keep track of the sales in your neighborhood.
4- Keep track of new listings in your neighborhood.

Keep track of Homes in your neighborhood of interest by Searching by Subdivision. Or Contact Us for a daily E-mail of properties in your neighborhood. We can also E-mail a list of homes that have sold. You don't have to log-in to use Our Website, so feel free to peruse listings.