Tuesday, March 04, 2008

First Time Buyers Beware: That Only Happens On Television

I've been showing a lot of first time buyers lately that have been watching a lot of television shows that show home remodeling, home decorating, and home buying.

Don't get me wrong, most of those shows are full of useful information, remodeling and decorating ideas and they can even give you tips on things to look for when shopping for a home that could be problematic... so they can be useful.

But please keep in mind that these are nationwide shows, some are even shot in Canada, and not everything they say apply to every area of the country.

Remodeling projects that they say can be completed in a weekend would be a tough job for seasoned hands, let along two women single handedly.

One show suggests that when you find a home you want to make an offer on "low-ball them." In other words, if they are asking 225,000.00 go in and offer them 25,000.00 less right off the bat.

I'm an advocate for negotiating a good deal, but my experience has been that this type of low-balling offends the sellers. I've even had a couple of sellers even refuse to make a counter offer because they were insulted.

Work with your REALTOR®. Ask them to show you comps in the neighborhood of homes that have sold as well as those for sale. Compare them to the home you want to make an offer on and proceed with a sensible offer.

I hear more and more REALTORS® working with sellers stressing the importance of pricing homes properly to sell in this market of over abundance.

Then there are those sellers who are having to bring money to the table to even sell their homes and have very little wiggle room.

I understand everyone wants a deal but just because the television shows are telling you to "low ball and ask for your closing costs to be paid," doesn't mean that it always happens or it's the rule of thumb to follow. In my opinion that only happens every-time on television.

I work with buyers and sellers so I see, feel and understand both sides.

As a buyer if you really want the home and give an outrageously low offer on a home that is priced correctly and the sellers get offended and refuse to counter - then you have lost out on a home that you really wanted and you are disappointed. That isn't a win/win for anyone.

Work with your REALTORS® and as buyers and sellers make mindful decisions.... and remember everything that is seen on television isn't always the case.
Clicky Web Analytics