Home buyers who are looking for big discounts on housing nowadays are finding that their lowball offers are no longer sticking with sellers, and that their offers are getting a flat-out “no” when they’re way below the asking price.
"Right off the bat, buyers say, 'I want a steal,' and you need to tell them they have to wipe that word out of their vocabulary !!
People , and especially investors,come in, and they think the market is 2008 or 2009, when sellers were desperate,but they're not desperate. Not at all and even in my marketplace such as Greater Las Vegas area where we were known for our distressed real estate
What quailfies as a low offer as far as sellers generally consider" lowball " to be less than 90 percent of their asking price.
Buyers, on the other hand, he says tend to say offers of 80 percent to 85 percent of the list price are reasonable.
Mistake some buyers make is going so low it’s not even reasonable and most sellers in today's market,and that includes the banks on REO or short sale properties,refused to take offers$10,000 to $40,000 less than her asking price: they just walk away from the table.
Another big mistakes home buyers are making in today’s changing housing market is that they are taking too long to make an offer and because of that they are losing out on getting the house they want. The number of for-sale homes on the market nationwide has shrunk considerably in recent months, bringing out higher competition for properties, particularly for move-in ready homes
Warm regards,