Ester, Both Buyer and Seller in 94595

In terms of percentages: How much under the listing price do buyers usually offer the seller in Rossmoor?

Asked by Ester, 94595 Thu Nov 25, 2010

On average what do sellers accept?

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Answers

11
Steve Curtis’ answer
first ... I am very pleased that 2 of the 10 agents to respond are from my office of 6 agents... And they know what they are talking about. Unlike other parts of the country where this truly is a buyers market we are not finding that to be the case. In most areas of the Central County even at this time of the year properties that are priced right sell ... often with multiple offers. Statistically, the average sales price is within 4 or 5 % of the list price... the challenge is that the market has a higher percentage of homes that are simply unrealistically priced ... and won't sell at all.

Find an agent who can provide you with the comparables you need and the agent with the expertise to interpret those figures to give you the best information to make an informed decision... and remember no matter what you offer in this crazy market it needs to be the price that if you don't get the home .... that's okay because for you that is what the home is worth.

Good luck... select your agent carefully and trust what they say.

Steve Curtis
Broker / Owner
Windermere Walnut Creek
925-408-0037
0 votes Thank Flag Link Fri Jan 14, 2011
Hi Ester,

Here's what I've noticed in Rossmoor - most sold prices seem to be a lot closer to asking price than in other markets. It could be that older folks are less likely to make low offers and play the offer/counter offer game. This is a generalization, for sure, just as it's a generalization to say that homes that sell during their first week on the market tend to sell close to asking price - but I think both points are valid.

As a buyer, if you want to make an offer significantly below asking price in Rossmoor, I'd suggest you make sure your agent talks to the listing agent about comps, etc. and relays why the price you're offering is fair market value.

As a seller, it's crucial that you price your home correctly. Too high, and chances are buyers won't send you low offers, as they won't want to offend you; they just won't make any offer, if, in fact, they see your home. Too low is also bad - virtually nothing in Rossmoor sells above asking price.

Good luck! Will Bateson, Broker, Sidewalk Homes, 925-455-0845
0 votes Thank Flag Link Mon Jan 10, 2011
It really depends on if the home is priced right or not. If you're asking fair market value the offer should be closer to the asking price. If you're asking too much, the offer will be a lot lower percentage wise.
0 votes Thank Flag Link Tue Nov 30, 2010
Hello Ester-

First of all, your realtor should pull comps. of "solds" in the area and from there you should be able to come up with an offer that makes sense. I don't know if percentages can be used in making an offer- hopefully the Sellers agent has done their "home-work' when they put it on the market
0 votes Thank Flag Link Sun Nov 28, 2010
If your are working with a Realtor, that person can give you an overview of recently sold homes that are similar to yours in size, updates and price range, so that you can see for yourself. Remember that many Sellers reduce their asking price to attract buyers, and then they negotiate with the one that makes an offer.

We are in a Buyers Market in most if not all areas of the country i.e. There are many more properties on the market for sale, in short sales and foreclosure as well, i.e. distressed properties where Sellers HAVE to sell, so the buyers those that are currently ready and willling and are pre-approved can "cherry pick" from a lot of inventory, and pick the best home at the most interesting asking price, and yes because of that situation the
offers will come in low..... Sit down with your Realtor get a detailed market evaluation of your home, see what has sold recently and for how much and go with your Realtor and look at a few competing homes, similar in size or similar in the price you intend to put your home first on the market... so you can adjust your
initial asking price accordingly....

Great condition, great curb appeal, well staged and really really well priced homes sell faster and at a better price.

Good luck to you...
Edith YourRealtor4Life and Chicago/Northshore Connection
Working always in the very BEST interest of her clients
0 votes Thank Flag Link Sat Nov 27, 2010
in todays maket properties are selling below market value. What will be good is to have a particular desired homes or areas and find out what has sold in the past 3 to 6 months. Most homes are sold as on the appraised value.
0 votes Thank Flag Link Fri Nov 26, 2010
Ester.

Ask your agent to provide closed sales information. This dada will show the closed and listing price for homes attracting offers. The rest is simple math.
Web Reference: http://bob2sell.com
0 votes Thank Flag Link Fri Nov 26, 2010
One cannot say what the percentage will be. Buyers are looking at condition, recent sales within a three month period, amenities, upgrades and if these the will fit there style. Remember buyers will pay waht they think a property is worth. Hope this will give you some insight.

Norma Atterbury
Web Reference: http://normaatterbury.com
0 votes Thank Flag Link Fri Nov 26, 2010
As others have relayed there is no set standards.
As a seller-if overpriced, buyers will look at recent solds, examine what your home has in comparison to competition and take into account the overall market......Some buyers will ignore a home overpriced and wait and see if price comes down and/or will wait x amount of time and then throw out an offer near the true market value and/or below the market value. That percentage can vary.

While one may have a lot of upgrades it may not physically suit a buyer....not a level in and/or the parking is to far away.

Many sellers still tend to overprice their home in this market. This can backfire and cause a seller to get less than if it was priced at market value to begin with.

As a buyer one has to take into account recent solds, the market trend, improvements or not and then write up an offer but do so in a way that will not offend the seller to the point they will not respond at least with a counter.

Never costs anything to write up an offer. It is the presentation and support of the price coupled with the strength of the buyer.
0 votes Thank Flag Link Thu Nov 25, 2010
Hi Ester,
That really depends on how long the property has been on the market and how overpriced it may be. All buyers have the tendency to want to offer less than asking price right now, but that is what a counter offer is for. Pricing is very important and knowing what else is for sale that would be similar to your property....Know your competition.
:-) There needs to be a reason that someone would buy your home instead of another home. Better price or better condition.

A buyer may offer 5-10% less. Maybe more.
Hope this helps.
0 votes Thank Flag Link Thu Nov 25, 2010
It depends who the seller is. Each situation is different. It also depends on how close to market value the property is put up for sale at. A bank reo often operates under pretty set guidelines and anything below 20% below list price tends to be a low percentage game, and there are exceptions. A divorce case or probate sale with greedy or cash desperate people who inherited the property is a different case, and one might get away with a low ball offer 30-40% below list price if it is an all cash, no contingency offer.

The only real question for me is, how low can I offer without offending the seller to the point where they will not talk to me or even look at any other offers from me.

Other wise I will start low and negotiate my way up on price and terms to a deal that makes sense to me, or I reach a point where I will look at other properties. It still is a Buyer's Market if you have cash, or solid credit.

Rossmoor homes many times are probate sales where someone has inherited the property.
Also some locations are vastly more in demand in Rossmoor than others. Distance from parking being one factor.

Usually a good broker with 10 or more years and a 100 or more closed sales should be able to guide you through the process.

Although I am not accepting any new clients at this time.
0 votes Thank Flag Link Thu Nov 25, 2010
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