But It’s A Buyer’s Market!
Great Homes, Low Prices!
Home Buyers these days are super savvy and have researched homes online before they ever call me. A lot of my clients start out by asking “How can we view some foreclosures and short sales?” They’ve seen ad’s for special memberships, 1800-numbers, and other gimmicks that promise them special access to foreclosed homes and short sales.
I always smile and gently take from them the papers for the scheduled homes we are seeing and say “Let’s see, here’s one, here’s a short sale, this one is bank owned, here, this one, this one, and ah, this one.”
Foreclosures and short sales are listed on the MLS right along with all the other homes. Unless they are for sale by owner, or the Bank is waiting to place them on the market.
In fact, as much as 1/3 of the houses on the market today in our area are selling short of what the Seller owes on them. And, Bankers want to sell their foreclosed properties just as much as anyone, so of course, they have it on the MLS with a Realtor. There’s no secret company or online membership to pay for. Anyone can find them on any ole’ average home search site.
If anyone ever tries to charge you to view foreclosed listings, run!
Another media-induced mindset that I’ve seen a lot of buyers really latch onto is the BUYER’S MARKET FEVER! Buyers have heard so much in the media about being able to make offers and get great deals, they feel like they should be able to make a very low offer and have it readily accepted.
Good Realtors will explain to their clients that most homes are ALREADY LISTED AT BOTTOM DOLLAR. They already ARE a GREAT deal.
The homes that are priced too high, often times miss out on showings and offers.
To be sure, I always do a Comparative Market Analysis for my clients of any home they are interested in. I compare it to other recent sales in the neighborhood. Most of the time, the list price is very fair or even lower than what the median home sales price is in that neighborhood for that style of home.
Home prices are lower than they have been in a long, long, long time. Really, a low offer is not needed to get them there.
Remember. Even offering full price for a home these days can still be a loss for many Sellers. For example. I am going to do a search in Lee’s Summit of homes that have SOLD in the last 15 days, between the price of $65000 and $150,000 and Let’s see what comes up. (P.S. None of these were my listings:)
Listing Price Vs. Sale Price:
Homes Sold Between November 1 – November 16
409 SW Stratford Road Lee’s Summit, 64081
List Price: $75,000
Sold Price: $80,100
1203 SW Mission Place Lee’s Summit, 64081
List Price: $80,000
Sold Price: $84,000
5622 NW Moonlight Meadow Court Lee’s Summit, 64064
List Price: $90,000
Sale Price: $ 90,000
215 SW McClendon Drive Lee’s Summit, 64081
List Price: $95,000
Sale Price: $95,000
1337 SE Lexington Avenue Lee’s Summit, 64081
List Price: $96,700
Sale Price: $93,000
6027 NE Moonstone Drive Lee’s Summit, 64064
List Price: $97,500
Sale Price: $98,500
5558 NW Moonlight Meadow Drive Lee’s Summit, 64064
List Price: $98,000
Sale Price: $98,000
We will skip some, because I think you are getting the point..
1100 SW Arborfair Drive Lee’s Summit, 64082
List Price: 129,900
Sale Price 129,500
2023 NE Patterson Drive Lee’s Summit, 64086
List Price $135,000
Sale Price: $131,000
206 NW Shamrock Avenue Lee’s Summit, 64081
List Price: $139,900
Sale Price: 135,000
808 NE Cedar Street Lee’s Summit, 64086
List Price: $148,000
Sale Price $146,500
I provided a link for the full list of homes in Lee’s Summit that have sold in the last 15 days between 65,000 – 150,000.
I always try to educated buyers about market conditions, so that their offer does not get “beat out” by someone else who has a grasp of what is going on in our market area.There is NOT this huge margin to negotiate anymore, and clients need to be armed with that knowledge so that they can take advantage of these rock-bottom prices.
So, Buyers: Don’t feel dismayed or disillusioned when you see this and think “But..I thought it was a buyer’s market?” Because it IS! Take advantage of these great deals!
If you want an HONEST, experienced, competent Realtor, then feel free to text me, call me, or email me today:
Emily Galbraith: 816-726-6706
Email: emily@infinityrealtysells.com
Thanks for Reading!
Click the following URL to see the listings search above in full detail:
http://portal.heartlandmls.com/de.asp?ID=565471765