I’ve been working with a young couple purchasing their first home. Like so many buyers today, they started their search on the Internet, and found me through “some social networking site, can’t remember which one”.
Bright, educated, and articulate, they know what they want in a home. Pre-approved for a loan. Lease up in two months. Ready to buy.
They found a house they liked and would serve their needs. Made an offer. Received a counter offer from the seller. Made a counter offer back. There was an $8,000 difference between buyer and seller on a home in the $300,000 price range, and the seller decided that he was done negotiating.
So, the buyers proceeded with their search and found a lovely home just around the corner, priced 20% higher, but a larger, much loved home, with significant upgrades. In a period of about 24 hours, they came to terms with the seller, on price and time frame. The seller even offered to leave the cat!
We are still in a buyer’s market. Sellers often must make concessions. Buyers determine the value of the home, and a seller can choose to agree, or disagree. If there’s agreement, the house sells, if not, only time will tell.
{ 3 comments… read them below or add one }
That’s pic is too cute… Sounds like this one has been a fun experience all around.
Yes. Sellers have to take a note that home buyers and of course has many chances in the market. home buyers start the work searching over the internet and found a lovely and beautiful house for buying with many contacts through social networking sites.
Ricardo – I do enjoy when a buyer finds a house that really matches their needs AND exceeds their expectations of what they thought they could purchase.
Greg – Helping to educate buyers and sellers on the current market as it changes definitely must be a priority. The dynamics are continually changing.