Hey New York buyer's have you heard it is a Buyer's Market? Well it is sort of. What you won't find so much of here in Orange, Sullivan, and Ulster Counties are house going for pennies on the dollar and don't expect that once you find the perfect house that no one else will be bidding on it. There is a lot of inventory in most price ranges but the good ones in each price range are the ones that everyone else wants.
If you are working with a buyer's agent please listen to them when they urge you to make a reasonable offer. I am not saying you should bid full price, in fact some houses are selling for 15 - 20 % lower than list price but if your initial bid is too low you risk turning the seller off or worse allowing another buyer come in with a higher offer that blows you out of the water.
As a buyer's agent I am always on my client's side with thier best interests at heart. Your goal is to get the house you want at the best price possible. That's my goal too. Some people think that the agent will try to make you pay more because their commission is based on sales price. To tell the truth the difference in the finally "payday" is minimal when we are dealing with increases in sales price of thousands of dollars. If you are not working with a buyer's agent or worse working against the suggestions your agent is providing and you keep missing out on the house you want I suggest you find an agent who will join your team and get you to the goal of owning a new home.
Good Luck in Your Search
I'm Paddy Pizappi- Work With Me And You'll Be Happy
Click Here To Search For Properties In The Greater Hudson Valley
Paddy Pizappi, Associate Broker for Buyer Representation
RJ Smith Realty - A Real Estate Solutions Company
Serving the Greater Hudson Valley of New York
from Pine Bush, NY at the corner of Orange, Ulster, and Sullivan Counties
Call or Text to 845-800-7086
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Hi Paddy,
Here in Newnan GA most banks are listing their properties at a correct foreclosure price, 20-25 percent below market.
Then buyers still want to offer half of that. I have one buyer that I showed REO stats that these homes are actually averaging above list price (doe to multiple offers) but he will not change his buying strategy.
As you mention, the good house are going...fast!
Paddy,
Great Post! I keep saying the same things to buyers in our market, but they don't seem to here me???
Steve