Happy New Year All. Seems so good to say goodbye to 2020! Hoping and praying there is an end to covid 19 and our lives will be happy, healthy, prosperous, and fearless! AND LET THERE BE PEACE ON EARTH!
Sale vs Listing Price Leelanau and Benzie Real Estate.com – Buyers Making Real Estate Offers and what considerations go into the process.
Real Estate Buyers lets discuss an Offer and look at Sale vs Listing Price!
Buyers always ask “What should my offer be” Most of the time they want to low ball an offer to see what happens. Not a bad strategy however there are other considerations. Are there multiple offers? Does the property have a lot of interest? Property was just listed on the market? How badly do you want the property and willing to possibly lose a deal. Lots to consider. Homes which have a lot of issues or things that need to be fixed also plays a role. Homes needing work will be on the market for a while till the right buyer comes along. Maybe the home needs a lot of work but is a steal at the price. These things effect the timing and are a consideration when making an offer. The thing to remember is how will you feel knowing you missed out for only a few thousand dollars more? Your best and final offer should be what you are willing to pay and walk away if not accepted.
Here is an example of the current market. A graph showing what the listing price vs sale price. Take a look. Also note the time of year when sellers get the higher price. This does not mean you should wait to make an offer if you like something. Inventory is low and the opportunity could be lost.
What the graph shows is sale price is rarely 5% less than listing price, give or take a little. Graph doesn’t take into consideration any price reductions that may have occurred. Best time to buy is probably beginning and end of year if you want to pay less. What is available at that time and is it something your interested in. Is it time to make an offer?
Leelanau and Benzie Real Estate.com offering Real Estate Services to buyers looking to buy properties up North in the Grand Traverse, Leelanau and Benzie areas. My hope is you found this blog interesting and informative.
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