IT CAN'T HURT TO TRY - OR CAN IT?
Everyday you read articles about how it is "A Buyer's Market". What does that mean ANYWAY?
1. There are more houses on the market to choose from
2. Prices have stopped escalating so they are more reasonable - some areas of the country have seen pricing drops but the Birmingham area for the most part has just flattened out.
3. You don't have to rush to buy for fear someone will come in and buy your dream home if you wait over night. I said over night not weeks and weeks.
4. Some sellers are more motivated to sell and are willing to look at offers that are not full price. They are also willing to leave items such as the refrigerator to make the home purchase work.
I was reading one of those many articles that was talking about a buyer's market, and it mentioned that buyers should offer as much as 20% less on the property than the sellers were asking. This IS NOT the case here in Hoover Alabama - or the greater Birmingham area.
I have had several low offers presented in the last 6 months. Several of them caused the buyer to either loose the house - or end up paying more for it than they would have if they had made a reasonable offer. Now you probably want me to define reasonable. This is where the experience of the Realtor comes in.
Hiring a realtor is a great investment. I am a realtor, but when I went to sell my mother's house in a different market, the first thing I did was interview 3 realtors and get their professional opinion of what the property should sell for. Everyone has access to houses through the internet, however, realtors have access to other information.
1. They have sale information through the MLS (realtor database) and tax records.
2. They have been in a lot of homes that compare to the ones you are looking at.
3. They have a network of other professionals that can help with question they may have.
4. They have the experience of working with other buyers to know how the house YOU are looking at rates against those other homes on the market.
With all this information, your Buyer's Agent can help you formulate an appropriate offer that can be well received by the seller, and get YOU the best price for the property. They should be able to give you an opinion, and back it up with facts. This will start the negotiation process off on the right foot.
There are many Homes for Sale in Hoover, Alabama that are priced right and some that are not. Buyers should look at what houses have SOLD for in the last 6 months and make an offer based on the fair market value of the property they are wanting. I have seen more than one offer this year that was totally rejected by the seller, and the buyer lost the house. I have seen buyers decide that they weren't going to pay more for the house in "this market" even though the house was priced properly, just because it was a buyer's market and another buyer came along and bought the house while they were waiting around for the seller to come to their senses!
Are you ready to make a move or buy and investment property. There are many Homes For Sale in Hoover, Alabama and the greater Birmingham area. If you have any questions, I'd be happy to help you navigate the current "buyer's market", just let me know at www.ToniBird.com.