Many times we hear that buyers want to make a "low ball offer" on a bank owned property. Their strategy is that the bank will take any offer, which isn't the case. Banks are pricing their properties about 5% under current market values from the start, so the property already IS under market and a great value.
The other factor to take into consideration is that interest rates are at an all time low, so the "deal" is even more enhanced. Contact our office and we can explain further, or visit our website at www.cghomes.com.
We specialize in the San Fernando Valley, Conejo Valley, Simi Valley, Wood Ranch, Thousand Oaks, Westlake, Malibu, Oxnard, Camarillo and Ventura areas, and can help you buy or sell.
Please interview us today. 800 208-6608 or Find homes for sale at www.cghomes.com
Real Estate the way it should be.... Be Home...
You are so right! Everyone thinks that banks will take any offer just to get off their books and it's not true. The foreclosed homes are already priced right but telling a buyer that - good luck!
This is a great post. Thanks for sharing!
I see Foreclosed properties selling well below Conventional selling. Many times the Foreclosures need work and appliances etc. and a good cleaning. Plus the inconvenience of not knowing when your offer will be accepted etc. If these variables are acceptable for the buyer they can get Foreclosed properties well below Conventional Listings. I see many Conventional Listings way above market value thou so its really not low balling. Lots of variables in Foreclosures also. It gets complicated knowing what the real market value is because it changes continuosly.
Stephen...
People are still making low ball offers? How chaotic and prehistoric. Says alot about the people doing it too. market value is the target and below that is a great deal. Forget about the steals as they are not just lying around and be content with a good, decent purchase....in my opinion. Thank you for letting me share it on your post
How many people insist that they are just looking for the great deal. They forget where the market is and the property right in front of them is probably a great deal already. Guess it is part of our job to keep educating them!
Great Post Stephen, Thanks