Sellers still stubborn about negotiating?
Everyone haggles over everything these days. But some sellers apparently still get miffed over what they perceive as low ball offers.
That's what our friend "Frank," who surfaces from time to time to share his experiences, is finding out as he continues to look for a deal in suburban Boston.
Spying a promising $470,000 colonial north of Boston, Frank offered $425,000.
While that might sound low, it is roughly 10 percent below the asking price and above the assessed value, Frank notes.
Besides, the owners had already cut the price twice before.
But instead of countering, the owners are apparently opting to cut the price again, to $465,000.
Here's what Frank had to say.
I sense another death of a 1000 cuts, extended over many months, over the winter, till it finally sells sometime next year. (or they get lucky, with someone moving to town, and falling in love with it).
My offer was *over* the assessed value of the house, so it was (IMHO) a reasonable starting point for negotiations.
OK, I am inclined to side with Frank on this one - we'll see if this tip toeing down in price nets a buyer or just prolongs the agony. Still, I think it also points to a factor that some buyers like Frank may not want to look at right now - continued leverage on part of sellers even in the teeth of a crappy market.
As I've noted in recent posts, overall inventory levels are down and homes that are in relatively decent shape and priced well are in even shorter supply.
Whatever you want to call it, it's not a buyers' market right now.
