Lindenhurst NY Home Buying - Got Cash?
It's a buyer's market. That means there are so many homes on the market that buyers do have choices.
I am finding that good, solid homes in the low to mid $300's are selling. My buyers are realizing the same thing.
We made 2 offers on 2 different homes and there were already 2 accepted offers on them. But, one home was very overpriced so I told the listing agent to bring our offer to the seller.
Their counter was so little that my buyers walked based on my advice.
This home will appraise for no more than $335,000. Similar homes that are nicely updated are selling for that amount. Not the home we were making an offer on. The listing agent told me that the other buyers are paying cash. Ah, ha! The light bulb went on.
When a cash buyer sees a home they love, they don't care what they are paying. They want the home, period. So, I am asking, why don't you care that you are paying at least $30k above what it will appraise for? The market hasn't stabilized yet. It's still going down little by little. Maybe next year we will have more stabilization but not this year.
If you lose your job, you won't be able to sell that home for what you paid three months from now. You will be doing a short sale guaranteed.
Patience wins out. Buy a home that is priced well and present a good offer. If you are dealing with low counter offers from the seller, move on. I educate my buyers to the point that they know by looking at a home if it is over-priced or not.
And sellers, price your home well and your home will not languish on the market for months and months. Buyers have choices and they will move on to the home that is priced right.
Cell: (631) 703-0201
Office: (631) 226-5995 Ext. 242
Email: JackieC@century21aa.com
Website: www.longislandrealestatelady.com
Website: www.lindenhurstnyrealestate.com
Blog: http://jackieconnellyfornuff.com
Skype ID: LIRealEstateLady
