Over the past few months, I have seen or heard of some offers made on homes that are unbelievable. It is not uncommon to hear that a Home Buyer wants to offer $150,000 for a house that is listed at $200,000. The media is driving these low ball offers. Real Estate throughout the country is different. You can't watch national news and determine what is a realistic offer is in your area.
As a Real Estate Agent in Lehigh Valley, I don't set the price a Home Seller asks for a house or the price a Home Buyer is willing to pay for the house. I believe my job is to educate either party depending on which one I am working for and give them the knowledge they need to make a decision based on facts.
If a house is priced correctly, it is common to get $5,000 to $10,000 off of the list price. If the house has been on the market a long time and is vacant maybe the seller will be willing to accept less. Each situation is unique.
In the above scenario, if the house was correctly priced at $200,000 I would never advise a Home Seller to accept an offer for $50,000 (or 25%) less. I would probably advise the seller to drop the price to $190,000 to see if we could at least get about $180,000 for the house.
If that offer for $150,000 is made, I also don't believe the seller should get mad and reject the offer or counter back at full price. The Home Buyer may be a serious buyer who is just trying to get a great deal. I believe the seller should make a realistic counter-offer and if the buyer refuses then let them walk.
Lehigh Valley Home Sellers should be realistic with their prices but that doesn't mean they should give their house away.
Five Can't Miss Tips for Brightening Your Bath
Buying a Home? New Construction Offers Many Benefits


