There is no doubt that we are in a buyer's market. A rock-bottom price just isn't enough for buyers these days; they're just getting warmed up. If you have your house on the market, offers are not pouring in and buyers know it. Demanding new furnaces, new carpet or new air conditioners is not out of the questions. In fact, there's a good chance the buyer will get it. Because the thing is, if one seller doesn't give it to them, the next will.
This is all on top of the closing costs that the sellers are forking over. Buyers were getting the short side of the stick a couple years ago where they were over paying and couldn't ask for anything, now it's their turn. Repaved driveways, one year home warranties and trips to Hawaii are practically being handed out.
Back in the days of the seller's market a buyer could not even make the purchase contingent upon the sale of their own home, the was just too much competition. A lot of people gave up their earnest money when they had to fall out of the deal.
Now buyer's are including all kinds of contingencies. Availability and cost of home insurance, availability of high speed internet and other services are some examples of contingencies buyer's would not have dreamed of in 2005. They were barely allowed a home inspection before, now it's radon, lead-based paint, roofs and fireplace inspections.
All this is after being negotiated down to the rock bottom price, sometimes way below what they had paid themselves.
Naturally the seller will be paying all the closing costs as well. Any seller who doesn't believe or doesn't know that it is a buyer's market will find out fast once negotiations start. They may even find out before that when no offers come in at all.
http://money.cnn.com/2008/08/29/real_estate/sellers_concessions_in_buyers_market/index.htm?postversion=2008082903
PLEASE CHECK OUT OUR NEW PODCAST ON THE HOMEPAGE OF OUR WEBSITE http//:www.TonyandLibby.com
& OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com (make sure you leave comments)
Just wanted to let everyone know how excited I am to have just finished another episode of "House Hunters" for HGTV. I also did an episode of "My House Is Worth What" in July with more HGTV shows to be filmed next year. I'll be keeping you all posted as to when those will air. Any opportunity to tell people how great Portland is, I'll take!
PLEASE CHECK OUT OUR NEW PODCAST ON THE HOMEPAGE OF OUR WEBSITE http//:www.TonyandLibby.com
& OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com (make sure you leave comments)
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Tony and Libby Kelly, MBA, M.Ed. are the NUMBER ONE listing agents in Tigard, OR & ranked in the Top 1% for Portland Metro. They were featured on HGTV's "HOUSE HUNTERS" & "MY HOUSE IS WORTH WHAT?.
"I'm very particular about who I work with in the real estate industry. As a real estate investor, and former agent, I really need to have an agent that understands the business of selling and buying properties plus the ability to skillfully negotiate on my behalf. The five deals that we have done together this year have been first class in every way. I have come across a few excellent agents in my 33 years in real estate and I can honestly say that you two are about the best that I've seen. Keep up the good work and I look forward to doing more business with you this year."
Geoff Edmonds
"Thanks for helping us find such a wonderful home and for selling our home SO QUICKLY! You two were great to work with and you made the process very easy."
Monte and Anette Salsman
"I wanted to say, Thank you. I am amazed with how quickly our house sold. This is no doubt due to the professional and courteous manner in which everything I've seen portrays. Talk to you soon and Thank You!"
Dave Johnson
"Thank you, thank you, thank you! This was the best real estate experience we have ever had. You guys have proven that there are professionals in the real estate industry. We still can't believe how quickly you sold our home! And we got the price we wanted."
Nelda Hinojosa
"Just wanted to say thanks for the great job you guys did. Your communication was great and you exceeded my expectations."
Karl Burmeister
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