Bi-Polar Market | Banks vs. Real Sellers | The Value of Convenience

Today’s real estate market is Bi-Polar. And there are no drugs to help a mentally ill real estate market; we just have to deal with it.

The two sides, or personalities, to this dysfunctional market; Bank Sales (Foreclosure, and Short Sales) and the good old fashioned Private Seller. The horror stories are common, the Bank refused to negotiate, or took months to respond, closing was delayed. While the prices on Bank homes might look attractive, buying from Banks take lots of patience and a flexible timeline. Private Sellers on the other hand, easy to deal with, willing to negotiate, and generally close on time, without any “hiccups”.

Sure we all want a deal, and we instinctively feel that buying a Bank home must be the way to get it. But, what is the value of time? What’s it worth to have your deal go smoothly?

Many of today’s more savvy (or perhaps “experienced”) Buyers have asked not to see Bank homes at all. After a few failed attempts at buying from a Bank they’ve thrown in the towel. In the words of one Buyer, “Just give me a good old fashioned seller who can actually sell their home to me”
Unfortunately Private Sales with out any Bank involvement are hard to come by in many price ranges.

Buyers believe me; Banks may “want” to sell, but their own bureaucracy gets in the way. Only cash investors with iron stomachs are truly set up to deal with the Banks terms and requirements.

Sellers listen; If you want to sell but don’t want to “compete” on price with these Bank homes, don’t worry. Get your home on the market! There are good Buyers looking for good ‘ol fashioned Sellers with nice homes that they can buy straight up, without hassle

Good Luck! - Ben Kolkman

Realtor, Sotheby's Realty, Minneapolis, MN