I’m talking to a Realtor who has taken a buyer through our $699,900 Bank owned, foreclosure www.piketteamrealtors.com in Wheaton. She tells me how much the buyer “loves’ the home but feels it’s too high for their budget. I say” WHY NOT MAKE A OFFER?” She says her client does not want to insult the bank. The bank? Insulted? They are insulted that they had to foreclose on the property. Now they need to sell the home!! No one knows what they will accept until an offer is made. How would those buyers feel if they discovered that someone else bought the property at a lower price….than they were willing to pay?
Many buyers are nervous in this market. We understand. No one wants to pay more than they must. However, very few buyers will buy at the absolute bottom. Because….most of us will find out “when” the market bottoms after it begins to rise. It’s a good bet if we all bought today, prices will rise in the foreseeable future and we’ll all do well.
The National Association of Realtors reported that 45% of all transactions in February were short sales or bank owned foreclosures www.shortsalepropertiessite.com . This is sad for many folks who have lost their homes. However, it creates one of the best buyer’s markets we have ever seen. Our message is find a good buy and WHY NOT MAKE A OFFER???