There's an art to negotiation, and part of it is understanding the motivation of both the buyer...and the seller.
We have literally piles of offers sitting in our fax machines that aren't even considered by the sellers.
Well stated. However, your term "reasonable" is very subjective. We all want a good deal. Scratch that... we all want a great deal.
Have we hit bottom yet? No. We still have a whole new wave of resets coming our way and for those who do not refi will loose their house. Keep in mind, banks do not release all their inventory all at once and simply dripple what they think the market will support.
PLUS... we have the nightmare of commercial investments that have yet to hit the media...All those would be investors like my dentist and chirpractor who bought up apartments to convert who have now defaulted...
We have at least 3-5 years of recovery time. But that doesnt mean you cant find a good buy or not to buy.
Dersirable homes priced right at current market values sell fast as other agents have stated.
Real estate for 90% of the people should be looked at as a long term investment not short. Whats long? 20 yrs...whats short ...less than 5.
So....if you are buying a primary residence and you hold on to it for 20 plus years... is the few thousand you save now really going to make a big difference in your lifestyle to buy the home you want?
My answer, probably not....
I'm absolutely willing to help you make lowball offers during this great buyer's market. I try to encourage all qualified buyers to bid under right now. There are a ton of sellers who want to make deals. Call me. I can help. You might as well take advantage of the buyer's market before things start going up again.