The first offer I ever wrote as a real estate agent was with a customer that called on a home while I was on floor duty. The home was listed at $212,000, and the buyer offered $160,000. The home across the street, a foreclosure, had recently sold for $165,000. The buyer insisted on their offer despite the different circumstances. I presented the offer to the listing agent, who presented it to the seller. The seller did not accept our offer, and countered at just slightly below list price. The buyer was not willing to pay that price and moved on.
Almost a year and a half later, that home is still on the market, now a short sale, and under contract at $160,000. It will probably close near $150,000. This is interesting first hand support of the statistic that the best offer will be the first offer.
This experience also shows how the market price is now being set by distressed properties. It makes me wonder what kind of a difference it would have made if both realtors and the public had accepted reality sooner about prices, and taken the big hit right away. Then we might be further up the recovery hill, instead of wallowing in the valley of the bottom.
Melissa Tolson, GRI - Buyer Specialist
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A recent John Burns Real Estate Consulting April survey of builders across the country revealed some hopeful trends in new homes sales and construction.
What does this mean to you? From prior housing downturns, we know that the resetting of land prices and builder activity are important steps to clearing and stabilizing the market.
It's not all doom and gloom out there, and this buyer's market is not going to last forever, no matter how dark it may seem right now.
Best Regards,
Melissa Tolson, GRI - Buyer's Specialist, the Landry Team
The Oakleaf Animal Hospital is one year old this month! To celebrate their first year in our community, Saturday April 25th they are hosting an open house. There will be free food and prizes and music. They will also be offering tours of the hospital. I'm looking forward to learning more about the behind the scenes workings of a vet's hospital.
I've always enjoyed great service from Dr. Weichman and her staff. Come out and meet them, and support our local Oakleaf businesses.
When: Saturday April 25th 10-2 Where: 8483 Merchants Way (behind Vystar, across the street from Beall's)
See you there!
Melissa Tolson, GRI - Buyer's Specialist, the Landry Team
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Inman News did a survey of their online readers, and 3 out of 4 said the market showed signs of improving. Some of these signs include:
There are a lot of great reasons to buy a home right now, and buyers are starting to see the opportunities. According to this survey, they are still cautious, but with interest rates at historic lows and affordable prices, it is starting to seem like a mistake NOT to buy a home right now.
I'd like to know your thoughts on the market!
Melissa Tolson, GRI - Buyer's Specialist
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