I agree. So many buyers are quickly disenchanted when they start submitting offers. They have heard all the talk about it being a buyer's market but when they submit their offer they are out bid over and over again. I help my clients learn and understand the market. They need to know what similar homes are selling for so they can have a good idea of what the home is going to sell for. That way they can put in an educated offer.
The list price is many times irrelevant. Some sellers list a property way above the market value so in that case submitting an offer under the list price would be appropriate. On the other hand, banks often list the property for less than what they know it will sell for in order to get numerous bids quickly. You need to know what properties are selling for in the areas you are looking in so you can compete against other buyers in a way that will put you in the home of your dreams. If you need any help, just give me a call. In the mean time, here is an interesting article I would like to share.
REALTOR® Magazine-Daily News-Is This Really a Buyer's Market?
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