Are market analysis for buyers passe? Isn't it simply what a buyer is willing to pay in this market?

Asked by Ms Dalloway, New Mexico Mon Feb 23, 2009

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J R, , New York, NY
Mon Feb 23, 2009
I'm not sure what you are asking Anita. I do a market analysis for a buyer, it shows what similar homes sold for. They sometimes use it as a gauge, and sometimes disregard it and throw out a lowball if they think sellers are desperate. Sometimes when that happens a seller will dismiss the offer completely, sometimes they will counter. What it tells me is how serious a buyer I am working with is. If they keep trying to throw lowballs unsuccesfully it tell me they they are probably not that serious and I will probably spend a lot of time writing up offers that ultimately go nowhere. Many buyers disappear after a lowball, even when countered.
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Edith Karoli…, Agent, Winnetka, IL
Tue Feb 24, 2009
he honest answer is no! The buyer needs to know what has sold recently in similar properties they want to make an offer on.... they need to know at least what the market seems to be able to bear and then and only then can they make an educated decision what to offer first and discuss the future negotiations with their Realtor.

And yes you are also right by saying homes are worth what a ready and willing buyer is ready and willing to pay, except that the seller does not have to accept that, which then is depending on the Sellers situation. And the seller based on his market evaluation of his property by his Realtor should also know what the market can bear....

Good Luck to you! Are you working with a Realtor in the search for your next home in New Mexico?
Or are you not yet committed! would you want me to recommend an area Realtor colleague to you?
Let me know
Have a great day!
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