In Corona del Mar, A Really Low First Offer Can Backfire on You.

A slowing market with rising inventory sometimes encourages buyers to make low-ball offers to test the sellers' motivation. In some markets it's not that unusual, and sellers simply come back with a high counter offer to draw the buyer up to a reasonable price. But this tactic may back fire on you when writing offers on Corona del Mar homes for sale. Buyers could pay up if they're not careful about this low offer approach. With first-time sellers who've cared for and loved their home for many years in Corona del Mar, a very low offer can offend them. An actual example was a low offer countered by the seller with $1000 MORE than the list price. The buyer wanted the home and paid it. One factor this continues to be the case in Corona del Mar real estate, is due to the impression that home values continue to remain strong in the area, despite actual figures showing a decline since the last few years. Now it seems we are at a turning point, hopefully new found equity positions will open negotiations further.
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November 26 2012 - Corona del Mar
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