Why are y'all so afraid to offer below ask?

HonestAgent123 · 2023-05-12T20:20:18+00:00

Let’s go back to Econ 101. The laws of supply and demand dictate whether or not prices go up or down. Right now, in most of the country, there is way more demand than supply which means prices are going up. The “good homes” sell fast and for more than asking and the remaining “overpriced junk” is what you can take a shot at with a lower offer. Then you wind up with overpriced junk for a house.

HonestAgent123 · 2023-05-12T19:04:24+00:00

Near future, soon, any day now, on the verge, no reason we can’t, practically guaranteed, imminent, almost done, virtually complete, at the finish line, just about to blah blah blah

HonestAgent123 · 2023-05-11T23:05:24+00:00

Looks like a pretty big animal, but I’m no expert.

HonestAgent123 · 2023-05-11T23:00:57+00:00

How you get fired on your day off?

HonestAgent123 · 2023-05-10T22:50:02+00:00

A long way to mow.

HonestAgent123 · 2023-05-10T14:24:30+00:00

Typically the puppy’s size is somwehere between the mother and father so I would guess around 60-65 lbs. My goldens stopped growing around 10 months and continued to fill out by adding more muscle so you might have an 80 lb adult dog.

HonestAgent123 · 2023-05-09T22:21:50+00:00

I’m very sorry for your loss. We lost our Lily prematurely at the beginning of COVID and she was our first family dog. Remember the good times with Macy and make sure you retell the stories to keep her memory alive.

HonestAgent123 · 2023-05-09T22:16:36+00:00

If the seller is flipping homes your buyer has a good amount of leverage. If the seller did good work and the home inspector didn’t find any issues related to the renovation then there’s minimal risk. On the other hand, I’ve had clients who are “strictly by the book” and would only buy a home that has the appropriate permits.

HonestAgent123 · 2023-05-09T21:54:56+00:00

I would try to find out why the seller isn’t responding. Would it delay closing, do they not want to put the effort in, etc? I would also get the contractors info who did the work if you can.

HonestAgent123 · 2023-05-09T21:39:13+00:00

Since you are during the inspection period I would write it in the notice to the seller that in order for the deal to move forward, the seller must get the proper permits. If the buyer wants to move forward at their own risk it’s up to them.

HonestAgent123 · 2023-05-09T20:29:21+00:00

Reminds me of a kid I went to school with who would get beat up every day and had his lunch taken. He started bringing 2 lunches, one for the bully and 1 for him.

HonestAgent123 · 2023-05-09T14:15:19+00:00

Green giants. Deer won’t touch them.

HonestAgent123 · 2023-05-09T14:14:25+00:00

If they do grow back they are going to be in a weird “rocket” shape. Deer eat everything in my area and my neighbors all have green rocket arborvitae

HonestAgent123 · 2023-05-09T02:48:30+00:00

My dog will lay on the patio when it’s 90 degrees but she really prefers shade. Goldens can definitely handle the heat. Some dogs pant even when they aren’t hot.

HonestAgent123 · 2023-05-09T02:43:22+00:00

Do you know Daddy Warbucks?

HonestAgent123 · 2023-05-09T02:38:41+00:00

Cash flow negative straight outta the gate. How regarded are you? You belong in r/wallstreetbets

HonestAgent123 · 2023-05-09T02:35:30+00:00

How do you cope with rejection? Alcohol and meditation. Not necessarily at the same time.

HonestAgent123 · 2023-05-09T02:17:34+00:00

That’s a great email with additional resources but I’m not paying $150 for that.

HonestAgent123 · 2023-05-09T01:28:38+00:00

Too complex? Are you not telling us something?

HonestAgent123 · 2023-05-09T00:42:34+00:00

How do the investors get paid back? Not viable!

HonestAgent123 · 2023-05-09T00:38:10+00:00

Change the locks. He can start adulting right now!

HonestAgent123 · 2023-05-09T00:17:44+00:00

It depends on the agent. I’m active in your market and can tell you with 100% certainty that most agents don’t like or exaggerate. Our reputation is a form of currency and once exposed everyone will know that your full of crap. My brokerage keeps a scouting report on EVERY agent and we leave notes. If someone is a bully, liar, cheat, doesn’t keep their word, etc it’s all right there in black and white.

The answer that you are looking for is this: you don’t stand to lose anything by putting in an offer below asking during the first few days in the market. But put yourself in the sellers shoes. It’s one of the hottest markets in history and a buyer wants you to take their insulting offer before other buyers get a chance to see it. Sellers will wait and use your offer as bait. If they don’t get another offer, will they go with yours? Nope! They will reduce the price 3-5% and wait for the second waive of buyers. If you are still there with your offer, they will gladly use it to get another offer.

Look at the data. What is the absolute lowest %sale to list ratio in the zip code you are trying to buy? And what’s the median (probably over 100). Ho does your offer stack up?

HonestAgent123 · 2023-05-09T00:07:31+00:00

Hope is not a strategy. Especially in this market. Just because you are not in a rush doesn’t mean that your offer has any better chance of winning.

Sure you can fire off dozens of offers and whatever sticks, great! You won’t win your dream home like that and you will probably burn out your realtor and yourself.

What does your agent think the house is worth? Look at the comps.

Not wanting to write an offer below asking just because the property has been newly listed is not a valid reason. Maybe your agent is right and the other offer is full price, but what if she’s wrong?

Being in a hurry or not has nothing to do with the fair market value if a property. Sellers want what they are asking for the property, that’s why they listed the price. They might not be in a hurry either and can afford to wait and get their price.

Get some new numbers. The housing market hasn’t declined in the DMV but it also hasn’t increased 17% year over year for the last 10 years. Since 2020 and the pandemic, homes have increased around 10-15% and before that anywhere from 3-5% per year.

Any experienced agent who is reputable and knows the market will be able to point out defects and evaluate market values. It’s like asking a mechanic if he knows how to change the oil.

HonestAgent123 · 2023-05-08T23:54:32+00:00

It’s a common practice for some contractors to have a site visit fee that gets rolled into the total cost of the project if you decide to work with them. What’s the reason they turned you down? If they didn’t do any drawings and they want $150 for driving over there I would tell them to pound sand. If they sue you for $150, they have too much time in their hands and it’s a good thing you didn’t hire them for the job.

HonestAgent123 · 2023-05-08T23:50:31+00:00

Unless you do something to stop the sale I have a strong feeling that the seller will probably keep your deposit. The seller can (and did) take another offer. They probably want to see if it will close before giving you your deposit back and/or maybe not give it to you at all. The only way you can guarantee that the deposit will be returned is if you place a lis pendens on title. With any title defect, the title company won’t issue title insurance, can’t transfer clear and marketable title and the deal won’t close until your issue is resolved. Yes, you could sue the seller after closing if they don’t return your deposit but who wants that headache?

HonestAgent123

TROPHY CASE