Okee - now I really would appreciate a little input on this whole house selling "thing."

[Writer]

We've had almost 15 showings over the last month. We had three showings today - five in the last three days. One person is making an offer, but it's a low offer.

Can I safely assume, given the amount of traffic going through our house, that if I wait a while I could get a better offer?

Just curious.

~Writer~

[momto3]

1. We are also in the process of selling our house.

We have had 2 offers, with the first offer falling through. Both we very low originally. Our agent said that this is what she is seeing with all of her clients. Buyers are being told by the media that it is a "buyers" market and that they can get whatever they want at whatever price they would like. I suggest countering with a reasonable offer you are willing to accept. Both of our "buyers" came up in the price they were willing to pay once they realized that we were not going to give in to their low offer.

Hope this helps.

[Writer]

3. It does help. Thank you.

That's my suspicion as well - that we will face low-ball offers.

Are you accepting either of the offers?

[momto3]

5. Our first offer fell through.

They originally offered $30,000 less than our asking price but came up to within $5000 of our asking price. Our agent believes they could not get financing. Our second and current offer, originally offered $25,000 less than our asking price. We came down a bit to meet them because we would like to have the move done before summer break is over for our kids. But, we are still within $10,000 of our asking price. Hopefully this one will work!

Good luck! I know this process has been very painful for us.

[Captain Angry]

2. Housing offers fall under the "It never hurts to ask" category.

It's a test by some to see how desperate to sell you are.

If your house is on the market for $200K and I offer $150,

You can say no! <-- shows that you're waiting for reasonable offers.

You can say I have to move, I'll take what I can get. <-- shows you need to move.

Or, you can say How about 195K? <-- shows that you're willing to talk, but $150 is ridiculous.

If they opened at $180 and you would have taken $150 so you can finally buy a house in your new location, they would have wasted $30K by not asking.

[Yavin4]

4. Just Like Dating

Endless bargaining and positioning.

[YankeyMCC]

6. My house has been on the market since this past November

and we've always had a steady stream of showings and large numbers at the open houses. We've only gotten 4 offers and they've all been pretty much the same, never was one higher than the last one.

Finally, this 4th offer looks like it's going to actually result in a sale.

Markets vary widely depending on location (you're in the North East somewhere correct?) but overall things suck pretty bad from a seller's perspective. I would not expect to get a higher offer and the longer your house is on the market the more leverage the buyers will feel they have.

So unless you take it off for a few months then go back on maybe next year or ever after that when things are a little better (if they get better in the real estate market at all) I think you should seriously consider an offer that mets whatever minimum requirements you have.

on edit: PhDmom is right though that you should not be afraid to at least propose a counter offer.

[MorningGlow]

7. Don't be afraid to reject a low offer

Most first offers are ridiculously low, just to see how cheap they can get the house they want. If they REALLY want your house, they'll come back with a higher offer. If they don't, then no loss--you wouldn't want to deal with folks who can't afford your house anyway.

As long as your house is reasonably priced for the market, you'll find a buyer. There's a buyer for every house, even in this miserable real estate market. Good luck! :hi:

[Orsino]

8. Yep. People are hurting right now, even those who need or want housing...

...so offers are likely to be generally low, and sales will take longer. If you are not using an agent, you are simply having to field all the lowballs yourself.

Paradoxically, I'm hearing that you might stop the low offers by raising your asking price, since in this market all buyers will be bargaining down.