REGINALD PERRYMAN's Discussions

Are these offers from investors or owner occupants? If your value considers the homes that are listed for sale in the area and the average days on the market, this information may determine why you are getting low ball offers. 1st thing to do is be thankful you are getting offers. 2nd. Consider what type of buyers are making these offers3rd compare the offer amounts to the lowest priced comparable listing in your area. ( comaparable meaning size,style and condition)4th Determine your holding cost for waiting on a better offer. Your holding cost may be more expensive than the $16,000 price difference depending on the market time and monthly expenses on this home.

THE SLUMP IS CAUSED BY A NUMBER OF REASONS. NOT JUST ONE. BUYERS WHO WERE NOT MAKING GOOD FINANCIAL DECISIONS ENDED UP IN FORECLOSURE. OVER COMPETIVE LENDERS CREATING PROGRAMS THAT WERE A SET UP FOR FAILURE (IN SOME CASES). ONE OF THE MAIN CAUSES IN MOST MARKETS IS THERE IS AN OVERSUPPLY OF INVENTORY(INCLUDING REO LISTINGS) WE HAVE 3 TYPES OF SELLERS(SOMETIMES ON THE SAME BLOCK) SELLER 1 SELLING FOR NO OTHER REASON THAN TO BUY ANOTHER HOME BECAUSE THE RATES ARE LOW AND THEY WANT TO BUY A BIGGER HOME. SELLER 2 IS SELLING BECAUSE THEY ARE IN FORECLOSURE .SELLER 3 IS AN REO. SELLER 4 IS JUST MOVING APPRX15% OF THE HOMES IN MY AREA IS IN ONE OF THESE CATEGORIES. WHILE THESE HOMES ARE ON THE MARKET THE LENDING PRACTICES ARE CHANGING. THE REO'S ARE SELLING AND THE MARKET TIME FOR THE OTHER 3 HOMES ARE INCREASING BY 3 MONTHS. THERE IS NOTHING ELSE TO DO FOR THE MOST DESPERATE OF THE 3 SELLERS BUT TO REDUCE THE PRICE.

I dont's see a problem with limited service agency. Although I prefer full service. Times have changed and the consumer wants options. The problem is that a seller in most cases will end up paying the full price anyway by the time the homes sales. I see sellers all the time who just want there home listed in the MLS. These sellers want to advertise, take inquiry calls,show the home and negotiate on there on to save money. There is no cheap way to get good service. For example my eviction attorney will charge one price to file paperwork for evictions and an additional charge to appear in court for the eviction hearing. I can decide to do all of it myself, retain him for the full process or just have him file the paperwork. In most cases I prefer not to go to court by myself(it always cost me either in time,money or both) I think when sellers find out how much work is really involved in selling a home other than placing it on the MLS and running ads. They will request quality service and pay the cost. I am more than happy to receive my commission upfront and I will even discount the amount from the full commission if the seller decides to convert from a limited service contract to a full service contract.