Maybe they don't have hundreds of thousands of dollars to bring to closing with them, to cover the loss in their house value.

Fri Jul 18 2008, 11:34

Keep offering until you find the right seller that will work with you. How long has the house been on the market and what is your agent telling you the other agent is relaying to them. You can offer to go and present the offer with your agent in person to the seller legally and see why they are not moving either. Sounds like you are trying for a home run or just a little edge, as the markets are the same everywhere, down and now coming back up, as some people are motivated to sell and some are not motivated to sell or think there home was worth more than it is. If you have your agent pull up the listing, see if there was a previous agent that had listed the property, and most likely your answer there also! If not, maybe they are upside down on there loan? If that is the case, you can assume some loans and get them out of the house also!

Best of Luck to ya!

Wed Jul 9 2008, 17:21

Elizabeth- This is very common in more upscale areas. Most of the sellers are not desperate to sell. Many have the financial resources to maintain two mortgages if necessary should they purchase another property. Also, the truth is that many upscale neighborhoods are not seeing prices declining as much as they are in other areas. Sellers know that if they hold tight eventually buyers will meet their prices .. or be close..if they want to live in the area. In these areas volume has little to do with market prices unless sellers "must sell" then you will see a compromise in pricing.

Wed Jul 18 2007, 16:23

Elizabeth
Thank you for asking the perfect question. I run into this all the time. and it's not just Napa, either.
When counseling with sellers I have a couple of key questions:
1. Where will you be moving?
2. What is important about moving?
3. When would you like to move?
4. What would the drawback be if you were unable to move/not sell at your price?
5. What alternative plan do you have in mind?
There are some Realtors that have not learned to ask these questions. The seller says "I'll sell if I get my price". The Realtor goes "Okay, that's great". "But I don't need to sell and I'm not going to give it away".
"Yessir, we'll just wait and see if we get any offers".
So, IMHO a sharp Realtor will not take a listing if it does not "qualify".
Just as a matter of fact, statistics show that in almost all cases homes that sell in the first 30 days , the seller will net more than if it sits on the market....
Keith

Wed Jul 18 2007, 16:06

Elizabeth
Thank you for asking the perfect question. I run into this all the time. and it's not just Napa, either.
When counseling with sellers I have a couple of key questions:
1. Where will you be moving?
2. What is important about moving?
3. When would you like to move?
4. What would the drawback be if you were unable to move/not sell at your price?
5. What alternative plan do you have in mind?
There are some Realtors that have not learned to ask these questions. The seller says "I'll sell if I get my price". The Realtor goes "Okay, that's great". "But I don't need to sell and I'm not going to give it away".
"Yessir, we'll just wait and see if we get any offers".
So, IMHO a sharp Realtor will not take a listing if it does not "qualify".
Just as a matter of fact, statistics show that in almost all cases homes that sell in the first 30 days , the seller will net more than if it sits on the market....
Keith

Wed Jul 18 2007, 16:06

Sellers leave prices as is for an extended period of time when they do not need to sell. It is only worth it to them to sell if and when someone will give them the price that they want. If no one will, they simply will keep their property. Becasue they can.

It's the same, but in reverse of when a buyer only buys because a property came on the market because it was a "great deal." We hear stories of buyers who were not in the market, but a favorable price prompted them to purchase a property.

Wed Jul 18 2007, 13:03