With shrinking inventories and more competition, buyers are finding they have less negotiating power in today’s market. CNNMoney recently highlighted some of the following tips to help home buyers be more successful in their purchases this spring:
1. Lowball offers are a waste of time: “The days when you could scoop up a house for 20 percent less than the list price are long gone,” the article notes. Homes are selling much closer to their asking price nowadays, surveys show. Michael Murphree, a real estate professional in Birmingham, Ala., says he advises his clients that if homes are selling below the list price in an area but are still being sold in less than two months to make an offer that is no more than 2 to 3 percent below the asking price. If homes are selling above the listing price, Murphree advises clients to make their first offer at the full asking price.
2. How to win a bidding war: To do that, agents say come with a higher price and fewer contingencies, and be flexible with when you can move in. In some transactions, the sellers could be left trying to find new housing for themselves, so some real estate professionals suggest leaving the closing date blank on the contract and allow the seller to fill it in, or be willing to negotiate a leaseback if the seller needs more time to vacate.
3. Shop around for financing: Credit unions and small banks tend to offer the lowest rates and may even be less strict about their underwriting, Guy Cecala, publisher of Inside Mortgage Finance, told CNNMoney. Cecala recommends getting a good-faith estimate from one lender and then showing it to Other lenders to see if they can beat it.
Author:Brenkus Team Phone: 702-526-2298 Dated: April 11th 2013 Views: 596 About Brenkus: Rick and Teri Have been top producers for over 30 years in the Las Vegas area and have been ranked i...
About Keller Williams Marketplace - Brenkus Realty Network
Rick and Teri Have been top producers for over 30 years in the Southern Nevada and have been ranked in the top 50 agents in the US by the Wall Street Journal out of over 1.3 million agents. They have sold over 7,000 homes in both stable and challenging markets. Their strategies and incredible systems to represent buyers and sellers can not be matched! Sellers enjoy netting top dollar in the least amount of time with their massive marketing and ability to stay ahead of the curve! This Top Producing Team has consistently been in the top 1% of agents Nationally for the last 30 years. They are national speakers and are highly sought after by many who want to get to the next level in their business. They also serve on Professional Standards at the Greater Las Vegas Association of Realtors and are Senior Faculty Instructors. Their list of credentials are endless!
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"There are so many realtors to choose from, but Ivy Beller and the Brenkus Team are top-notch professionals who will go above and beyond your expectations. We became Ivy's clients when we were attempting to sell a condo we inherited. We originally listed with Zillow because we were lured by their promises and testimonials of a quick and easy cash sale. However, it turned into a living nightmare, and we will never go with Zillow again. Because it was not a person-to-person contract, everything was via e-mail. There were no less than five different people from Zillow e-mailing us daily, requesting information, signatures, and documentations, sometimes the exact same requests from several different people, none of whom communicated with one another. It was chaotic, disorganized, confusing, and high-pressure. They kept sending us urgent messages to "sign or else." The documents were very confusing, and when a lien came up on the property (we knew nothing about it), we knew it had to be an error since the condo was already cleared during probate. No one at Zillow could figure it out, and they kept sending us e-mails saying that we have to sign, but if the lien came up as valid, we would have to pay them. After getting nowhere with Zillow, we enlisted the help of Ivy Beller. From the minute she reviewed the contracts, she knew what to do. She immediately got on the phone to investigate the lien. She resolved the matter personally within a week. In the meantime, Rachel was getting us offers on the condo; within a few days, we had two offers. Within two weeks, we had a cash buyer. Moreover, the offer was more than what Zillow was going to pay. The lien was removed, the deal was closed, and we had cash in hand within a month.
Throughout the entire contract, there was continual, open communication. We received phone calls and text messages, and everything was explained to us thoroughly. They were always available to answer questions and address concerns. In this digital age when everything is moving toward automation, nothing can replace the value of the personal relationship with a real-life realtor. Ivy and her team were personally involved in every aspect of the sale, and they always had our best interests at heart. They worked with integrity and had the expertise which enabled them to handle the unexpected. Most importantly, they genuinely cared about us and truly worked for their clients' interest.
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