Texas Sold Team Realty Blog - Blogging about the Keller, Southlake, Grapevine, Colleyville and surrounding areas!

Well, that is the million dollar question.  The numbers are up now across our MLS for the 2nd month in a row.  Does this mean sellers are giving away their homes?  Not at all!  In fact sellers that are pricing their homes at fair market value are selling their homes for a fair price.  As, a full service real estate company it is always fun to see the offers come in at insulting levels. 

It is always fun to get the reaction of the buyers when the seller comes back at almost full price after receiving such an offer and the buyers don't understand.

Well, lets compare it to selling anything you really value and you want 1000.00 for it and some one comes along and offers you 20.00 for it.  What is your first reaction to that person.  More than likely it is not oh, thank you so much for asking, let me see I will come back at 50.00 and we can be friends.  Not at all, especially since homes are so personal to people. It is not a thing it is a home where they spent a lot of heart and soul in. 

I am not saying not to ask for a lower price when bidding on a home, but if your agent has done a fair evaluation of the property and the comps are within reason of the asking price offer a bit below what the comps are for the area and work from there.

i.e. A home is on the market at 700,000 and the comps support a sales price between 690,000 and 710,000  don't offer 600,000 for the property and expect that the sellers are going to take you seriously or even want to come back with a counter offer. Most of the time they want to just reject the offer all together.  Now, you have a problem if you really want the home.  The sellers are less likely to give you a better deal even if you move up on your offer from ground zero. 

I would start some where around the 650,000 that is still 40,000 less than the lowest comp.  If you get some where between that offer and the lowest comp you got a great deal.

Look, I am the first that wants the best deal possible but at the end of the day if it is the place you want to move into and you want the values in the neighborhood you are moving into to stay up then start off with that attitude.

Now, if this is a foreclosure or short sale do what you want with these the banks don't have any emotional attachment to the properties.  This is a numbers game and nothing more. You hit the number they want or better and don't get beat out by someone that wants it more than you, your a winner.

I will tell you as I do all my clients and customers it is your home, your money do what you want but I am going to give you my professional opinion and then it is up to you what you want to do with it from there.

So, if I tell you this is going to be an insulting offer to a seller, don't be surprised if they don't want to come out and play with you nicely.

I can only say this about our local market here in the Tarrant county area.  I know that in some parts of Dallas county they are really having battles on getting value but our local area is not the come in and steal them off the shelves place at all.

If you are a first time home buyer now is a great time to buy, but it won't last forever the 8000.00 tax credit goes away this year in November.  Think you can buy a home, and even get paid to do it.