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Originally Posted by QualityMpegs
Now I am enraged. After raising my offer from 15% below asking to 10% below asking, she emailed me back saying this (before ever submitting my offer):
"I said be realistic. You are not going to get a cream puff house for under this price. The agent said the sellers said no and you have to come up in your offer. I mean you are offering 20K less than list price on a house that is in primo condition."
Should I tell her to go to hell?
I responded by saying this:
"I raised my price. Previously it was 15% below asking price, now it is 10% below asking price, which is realistic. This market is dead. Please make the offer."
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Agents are having a VERY hard time pulling the wool over people's eyes right now. The housing market is in a free-fall. Interest rates are rising very fast, inventory is rising even faster. Look at these inventory numbers in Phoenix!!!
1/2: 26,715
1/10: 28,790
1/20: 31,457
1/30: 32,512___1/06 sold: 5,260___1/05 sold: 9,360
2/10: 34,608
2/20: 35,455
2/28: 36,176___2/06 sold: 5,455___2/05 sold: 7,935
3/10: 37,680
3/20: 38,968
3/31: 39,852___3/06 sold: 7,265___3/05 sold: 10,035
4/10: 41,403
4/11: 41,946
4/12: 42,356
4/14: 42,561
4/15: 42,983
Florida is in no better condition than Phoenix, California, New York, Washington D.C., etc... The old farts that are selling the house you want probably don't pay attention to the market conditions. They are told by their realtor that the market is still hot and "look what your neighbor sold for in January". If you can stand it. Stay firm on your 15% lower offer. Let them come back to you. Do you have to move RIGHT NOW? Wait until June/July when the blood will be in the streets. I'm telling you. Patience will be key here. We will be seeing the worst downfall in the housing market since the Great Depression. In no other time in our history have housing prices been run up as long and as high as they currently have. ARMS will reset this year and next, foreclosures are already going up. There will be some SWEET deals to be had later this year and certainly next year.
Don't let those greedy agents steal your money. Be firm and YES, ditch that fool that told insulted your last offer.
marc