Carmen and Jeff Bills : These are the days for our real estate lives

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These are the days for our real estate lives

By: Carmen and Jeff Bills
Tuesday, March 20, 2007 8:00 PM

Well many of us work as buyer and seller agents but this post has to do with working on the buyers side. Now with our MLS service you can get all kinds of stats from number of homes on the market to days on market ect... But what has my attention today is the percentage of listing price homes are being sold for? Depending on area homes in the Charleston market these days are selling for anywhere from 95-98% of the listing price. I look at this number and have to give a thumbs up to the agents in our market, because they seem to be giving their seller clients good advice and getting the homes listed pretty close to market value. Well I wrote a deal today as a buyer agent and we got what I would call a whopping 15% off the listing price. It was a new home and built by a big national to remain unnamed builder, who a year or two ago would have laughed if you even tried to get a dime off their asking price. Oh how the world turns, in real estate. Well I must say I felt pretty good about how I represented my client and to me anything above the average within our MLS is a win for me and my client. What I want to know from all you great real estate minds out there is what was your best deal for a buyer client? and what is the percentage of listing price averaging in your market? Idea

Comments

Member Since '05	Lonn Dugan said: best for buyer client 80% of list Avg for sellers 98% of list in OH - 92% of list in MI MI in trouble last yr... March 20, 2007 7:02 PM
Member Since '06	Charlene Fairman and Troy Marsh said: That is a very good discount for your buyers....way to go....the best discount that I had offered from a builder this year was 11% and they were going to also buy the rate down 5 points....I was shocked at that...The builders have so much inventory and with buyers scarce, it is amazing the discounts being offered... Nice job you did March 20, 2007 8:43 PM
Member Since '07	Helmer Zapata said: Good for you and your client, The most I've negotiated for my buyer has been 12% from a builder. The product is getting harder to move, but thats why we call it a buyers market. Keep up the good work! March 20, 2007 10:49 PM
Member Since '06	Michelle Leonard said: Last year and this year starting our Builders gave the best deals. I am starting to see the deals dry up as builders inventories are depleted. The most I negotiated off was $90,000 last year - buyers paid $489,950 and this year $76,500 and buyers paid $370,000's March 21, 2007 3:21 AM
Member Since '04	Vicki Owens, ABR, CRS, GRI said: In central Ohio if the home is priced right, about 97% of list. Builders here as well are selling considerably below list to compete, especially with spec builds where buyers dropped out because their homes did not sell in a tough fall/winter market. Plus the builders are still buying down the interest rates for financing. Not all of the best deals are new builds because there is so much not done (decks, fences, basement finishing). And lenders are also offering some great programs with low rates. Our market took about a 10% price reduction since last June. If you compare to this same time last year, great buyer deals are everywhere and fortunately, buyers are starting to finally notice and getting busy with offers! March 21, 2007 4:28 AM