Annie Holdreith

Let's say you are a buyer and you have found a house that meets your needs and its listing price is in your financial comfort zone. You have reviewed recent comparable sales for like properties. You have established what you think the value of the home is. You are armed with a pre-approval if you are going to seek financing or have copies of statements verifying liquid funds if you are paying cash. You are ready to make an offer and open good-faith negotiations for the house.

Okay, so stop for a moment and think of yourself as a pitcher...a baseball pitcher. Think of the seller as the batter at the plate. The catcher's mitt is like the comps - the target you are aiming for. Are you with me?

Pitchers have more than one pitch. Each pitch is used for a different strategy. Offers are the same. You can make a full-price offer with super strong terms - a fast ball pitch down the middle of the plate. If a house is priced at market value and there is strong competition from other buyers, your fast ball is the best option. And you may have to go over the ask...that is put a little extra on that pitch!

You can make an offer somewhere at the bottom of the zone of established value. That is like throwing a slider or a breaking ball low and inside...if it is interesting enough (strong terms like a high percentage down, no mortgage contingency, waiving of inspections), the seller will take a look at that pitch and may swing (a decent counter offer comes back to you) or a check swing (no or low counter offer).

Or, you can combo up some strong terms with a sensible value price...that's like throwing a knuckleball in the strike zone and let the seller make contact. Get the ball in play and see if you can reach agreeable terms and price for both sides.

Lately, I am seeing too much of the dangerous pitch choice...the wild pitch. Lowball offers are like wild pitches. Wild pitches are so far out of the zone, the catcher doesn't see it coming, can't catch it and the batter is puzzled and trying not to get injured. Same thing with lowball offers. They insult the seller, confuse the agents about your motivation and there is no basis in anything concrete to support the offer. Pitchers who pitch wild pitches get pulled. The seller reacts the same way by making no counter offer and saying "NEXT!" and some other choice words I cannot type here. Your wild pitch of an offer has set a tone for the negotiation and vicariously painted a picture of yourself as being opportunistic, or unrealistic or not serious. If the seller is able to remain calm and let you make an improvement, you are lucky. But the damage has been done. You have left the door wide open for another buyer to come in and give the seller incentive to listen more closely to them as direct response to your lowball offer.

So, when you are ready to make an offer think of yourself as a pitcher with a choice of pitches. AVOID WILD PITCHES. Study your target. Get that offer over the plate and give the batter something to look at and consider swinging at! If you can put the ball in play, you are on your way to buying a house.

Here’s the setting…I am opening one of my listings for a buyer and their agent. They are touring the property and listening to me point out the attributes, improvements and upgrades. Buyer is nodding in approval and keeping a poker face. At some point, the buyer turns to me and asks, “Is the seller negotiable?”

Lately, that question is posed more often than not. And I find it such a curious question. My response is “My job here today is to show you the attributes and features of the home and answer any questions regarding the property. If you are seriously interested in purchasing the home, have your agent prepare an offer with full ingredients and I will present it to my homeowner.” My experience is that buyers don’t like that answer…and most of the buyers who ask the question, never make an offer!

Let’s take a look at the situation…the seller controls the pricing and the condition/showing performance of the home and the market controls the value. Buyers are shopping and comparing homes features, location, and other variables. Most are savvy and have looked up the tax assessment value, used valuation sites like Zillow for info and reviewed comps of recent sales from public websites like mlsli.com. They know their stuff.

The seller has also been versed by the listing agent in comparable sales in the area. The seller wants to sell the property at the highest price and the buyer wants to buy the property at the lowest possible price. The bank wants a reasonable value to determine if they are willing to lend. The seller is listening….make an offer!

The seller is looking for an offer to contain a price and just as importantly terms. How much money is the buyer putting down and financing? Is the offer cash? Does the buyer want to close quickly or slowly? All these factors are reviewed. A seller’s willingness to negotiate is based on how weak or how strong all the components of the offer are.

In our market, an offer is not binding on either party. Both parties must sign a sales contract for an offer to be binding….so make an offer! If the homeowner finds your offer is made in good faith with strong terms, chances are you will receive a counter offer.

Negotiations are about establishing value and reasonable compromise. They start the moment the property is placed on the market. Think about this, the listing price is an offer to the entire buyer pool in that price range! As the buyer, are YOU ready to negotiate? The minute you come see the property and see it fits your needs and you like it, the ball is in your court. So if you like the property, go ahead and make an offer!

Welcome to 27 Udall Drive Great Neck, NY 11020. This high-ranch style home is located in Great Neck and is districted for Manhasset School District #6.

The home offers a flexible layout that will suit many needs. The main level of the home features a formal living/dining room combination, a bright cheerful updated kitchen, 3 well-proportioned bedrooms and an updated hall bath and powder room. There are plenty of closets and an attic for additional storage.

The lower level has a separate entrance and has a bedroom and full bath, 2 additional rooms, plus a laundry room and mechanical room. The lower level could possibly be used as a mother/duaghter with proper permits from the town of North Hempstead. The home is a single family home.

The property is large and prettily landscaped and quite private. The property size is 60 x 100. Taxes are just under $6000. The listing price is $538,000. MLS # 2385490

C.lick here for a virtual tour of this property.

If you would like more information on this property, please email me at annieholdreith@danielgale.com

Here is my latest home sales activity report for Manhasset, NY 11030. If you would like to have this report emailed directly to you, please email me at annieholdreith@danielgale.com.

New Listings List Price

69 Memorial Place $490,000

14 Robin Road $798,500

128 Vanderbilt Avenue $799,000

182 Ryder Road $818,000

19 Doral Drive $820,000

64 West Drive $849,000

36 Bay Driveway $849,000

212 Park Avenue $999,000

5 Cove Drive $1,079,000

198 Rockwood Road $1,348,000

85 Winchester Drive $1,499,000

68 Payne Whitney Lane $1,650,000

45 Lake Road $1,775,000

38 E Aldgate Drive $1,795,000

187 Aldershot Lane $2,150,000

1 South Drive $2,900,000

14 Elm Lane $3,150,000

44 Gristmill Lane $3,300,000

1372 Plandome Road $4,580,000

Under Contract List Price

31 Bayview Court $499,000

45 Mason Drive $750,000

70 Chestnut Road $949,000

51 Rugby Road $1,075,000

28 Sully Drive $1,375,000

34 Great Oak Road $1,399,000

302 Trumbull Road $1,559,000

6 Blakelock Road $1,725,000

15 Meadow Lane $2,595,000

Closed List Price Sold Price

42 High Street $405,000 $360,000

192 Lindberg Street $499,000 $505,000

47 Onderdonk Avenue $619,000 $562,500

22 Normandy Lane $929,000 $920,000

433 Park Avenue $1,199,000 $1,119,000

44 Homewood Place $1,199,000 $1,140,000

22 Westgate Blvd $1,499,000 $1,300,000

17 Parkwoods Rd $1,690,000 $1,500,000

*Residential Property information as per the Multiple Listing Service Of Long Island

Here is my latest home sales activity report for Port Washington, NY. If you would like this report emailed directly to you, please email me at annieholdreith@danielgale.com.

New Listings List Price

8 Carey Street $349,000

13 Pequot Avenue $499,000

39 Carlton Avenue $510,000

23 Lynn Road $599,000

8 Lowell Road $739,000

21 Salem Lane $759,000

21 Roger Drive $799,000

28 Marlin Lane $799,000

32 Meadow Drive $999,000

3 Beacon Hill Road $1,195,000

7 Hillcrest Road $1,359,000

10 Briarcliff Drive $1,359,500

6 Sunnyvale Road $1,590,000

6 Secor Drive $1,625,000

16 Forest Drive $1,850,000

Under Contract List Price

28 Belleview Avenue $449,000

70 Harbor Hills Drive $485,000

30 W Sintsink Drive $549,000

4 Guilford Road $699,000

30 Driftwood Drive $749,000

12 Winthrop Road $775,000

17 Seaview Lane $799,000

9 Stratford Road $815,000

46 Orchard Farm Road $859,000

11 Summit Road $875,000

4 Jeannette Drive $879,000

240 Pond View Drive $925,000

Closed List Price Sold Price

38 S Bayles Avenue $489,000 $455,000

13 Seaview Lane $739,000 $712,500

9 Hillside Avenue $899,000 $845,000

69 Barkers Point Road $1,199,000 $1,191,500

*Residential Property information as per the Multiple Listing Service Of Long Island