Taking Advantage of Negotiation

Zillow reported that for July, 2009, buyers, nationwide, paid 3.3% less than asking price.

The variance is a bit more drastic for Sussex County. For single-family homes, the average difference between list & sale was nearly 10%...for condos, nearly 11%.

In August, the list/sale difference improved by 3% for single-family and remained about the same for condos, probably due to the glut of condos available in this market.

By comparison, at the height of the local market, the variance was only 3-5%.

Even within Rehoboth Beach, as a buyer's agent, I would advise a anyone to initially offer 10% less than asking.