Absolutely, "priced to sell" is a general term probably assigned by the listing agent that indicated the feel theproperty is priced competitively with today's real estate market. It may or may not take into account the seller's level of motivation.
To get a feel for the sellers motivation, it might be helpful to pursue the original price, how long its been on the market, the amount of each price decrease, and how much the purchased the home for.
The market is such that sellers should not expect to get their asking price. Ask your agent to provide you with all of the comps for this home. It should shed some light on a price range that you can focus on and use for your initial offer and eventual final price.
Here's a general rule....everything is negotiable. It will help greatly to have information at your finger tips to support your offer.
Best wishes house huntinh.
The "Eckler Team"
Michael Saunders & Company
"Priced to Sell" is a marketing term used to encourage Buyers to buy. It's equal to phrases like "move-in condition" or "great neighborhood". Home prices are negotiated between Sellers and Buyers based on all the factors affecting the home. A good buyers agent will help you determine if a home is really "priced to sell".
I work in the metro Detroit area. Let me know if I could be of any assistance.
I agree with Danielle, she's spot on. ;-) I would also like to add that unfortunately some agent put this on the listing just to generate interest. Lately I almost don't even see that on a listing because I have become accustomed to looking right over it. This is where buyer's agent are so important. We can pull up comps, public recs etc and be able to tell you if its really "priced to sell" or if it's "priced to stay listed"
Every home is negotiable!!
Even though I now live in Florida (I moved here a year ago from the Detroit area), I still hold an active real estate license in MI as well as my broker's license in FL. I'm very familiar with the metro Detroit area market and industry practices.
Usually when we (myself and colleagues) phrase it "priced to sell", it had nothing to do with what the lowest price the seller is willing to take. Its usually in regard to pricing it to sell quickly, i.e. competitively compared to similar homes in the area.
Make sure your agent pulls public records and comps before you write an offer. There are a lot of investors that have bought properties for pennies on the dollar in the area that are either selling them or renting them out. It's always good to have as much info as possible.
If there's anything I can do to help, please let me know!
Heather Wolfe, Broker-Associate
Distinctive Homes Realty, Inc.