The answer is TWO.
That is typically how many homes a buyer loves but stands by as someone else buys 'their' home.
Agents conversing among themselves will share, "My buyer needs to 'burn' a few." The agent is saying the buyer must lose a few homes they love before they realize quick and decisive action is the essential element to securing 'the' home."
An agent is really in quite a predicament. If the agent were to say, "This home is a real DEAL and meets your current and future plans. You REALLY need to put in a full price offer...NOW." You the buyer would feel manipulated and steered into a situation and in moments you will be on Trulia complaining agents are only interested in getting paid! The reality is, it is discouraging for the agent to see a buyer get 'BURNED' by indecision.
If the home is 15% overvalued, you can wait However, this strategy is purposefully designed to get a group of buyers to put the home on their "WATCH" llst. Yes, real pros are able to monitor this action. When the price adjustment comes, there will be multiple offers. Again, waiting did not help the buyer.
My personal guidance to you would be:
"Don't let others make your decision for you!"
Waiting allows others to buy the home thereby making your decision for you.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
Perhaps you're thinking that by waiting the price will drop, my thoughts have always been I could care less what a Seller is asking, my job as a buyer broker is to analyze the data and determine fair market value; to share this with my buyers so that they understand what the maximum price for the property should be and then start lower than this with the intent to end at or below this number. Sometimes the property is priced right and the data indicates this, more often it's priced with the intent to negotiate down and occasionally it's priced in such a manner that it indicates serious delusions on the Sellers part. Again it doesn't matter, serious sellers will understand data that's presented to them properly and respond accordingly.
If you don't already have a buyers broker I would encourage you to read the link I've attached below.
Best of luck, I hope you have an awesome 2013 and happy house hunting.
Although it is very unlikely that a home buyer can jump right in after looking at few properties, it is not impossible.
Once you see yourself living in that house and in that neighborhood, do not speculate on the shift on the price because your realtor can give you the comparable market analysis to assist you with your offer price. The final decision is yours to make. You have to be comfortable with it.
If the house is priced right, don't lose it for few thousand dollars because the mortgage payment difference will not be substantial.
Best of Luck.