neponsit realty

3 Jan

Bad Math

I’ve stumbled upon a few sellers who have grossly inaccurate views
regarding the values of belle harbor realty.
They think that just simply because they
paid “x” and set “y” in to the property, that the property is now worth
“x+y”. This concept works in algebra, although not within our real estate market.
Inaccurate views by sellers happen most often at the beginning of the sale process. The
sellers don’t yet realize the tremendous amount of setup work made by the broker on other
properties which helped find this buyer.
The need for a house in today’s market is determined by comparable sales within a recent
time frame (3-6 months). Even if the seller finds an uninformed buyer who’d pay too
much, it comes with an excellent chance the deal will not close. Why? Any buyer who needs
a mortgage would discover that the bank appraisal could be lacking to justify the size of the
mortgage required to complete the deal.
Some brokers are extremely prepared to take these pie-in-the-sky listings, because they are hungry
for new inventory (shows share of the market – even if too expensive). If you would like an accurate,
free market analysis then give me a call.
Call me…love, Robin

When an offer is made on the new listing the
seller thinks “it’s easy”. He thinks he’ll be able to do better because
the procedure just started and often he can fare better. However, in
a large number of situations this isn’t the situation. The real estate broker
usually brings his best, most qualified, most experienced buyers to the new listing immediately.
The broker does this to be able to try to be a step in front of the competition and/or facilitate
a deal together with his buyer before his buyer finds another property (or changes his plans).
The vendor is reaping the advantages of much prior work and advertisement of other properties
through the broker.
Consequently, the vendor who dismisses a first good offer purely since it was presented
too early might be creating a big mistake. Our housing market is still a buyers market.
Nearly every listing price should have a minimum of some negotiating room inside it. Therefore,
a deal within hailing distance of the listing price should be seriously considered. Of course,
as mentioned above, better offers can materialize as time goes by. The issue can be a
conundrum.

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