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She said they would not take an offer of $x which is around what I think it's worth
FWIW, I wouldn't take the agent's word for what they might take. If you make a written offer, they have to show it to the seller. Sometimes and actual offer gets much more consideration than an idea over the phone.
Quote:
I was speaking to an acquaintance this morning telling her about the situation and she said that realtor is notorious for overpricing things and then letting them sit for a long time. She said she had listed with her back in 2010 even though she wanted to use a different agent. She said it sat and sat and then they finally used a different agent and it sold. She said that another person who used her had their house sit on the market and had an offer and that they sold it a year later for $150k less than the offer.
OK - but fwiw....We can make all the suggestions we want, but the owner sets the price, not the realtor.
This is why it's sometimes good to make your low offer if you want it but seriously think it's overpriced.
You don't know what the dynamic is... The seller may think he's doing nothing at all wrong but no offers are coming... or the seller may be stubbornly stuck on a pie in the sky value that just isn't practical.
A serious but realistic offer might set them both straight.
FWIW, I wouldn't take the agent's word for what they might take. If you make a written offer, they have to show it to the seller. Sometimes and actual offer gets much more consideration than an idea over the phone.
OK - but fwiw....We can make all the suggestions we want, but the owner sets the price, not the realtor.
This is why it's sometimes good to make your low offer if you want it but seriously think it's overpriced.
You don't know what the dynamic is... The seller may think he's doing nothing at all wrong but no offers are coming... or the seller may be stubbornly stuck on a pie in the sky value that just isn't practical.
A serious but realistic offer might set them both straight.
Ok, great points. Now I just need to get my husband to agree to the value I think to start with.
" I don't have to move. My husband doesn't want to."
If these things are true, why are you even house-shopping? This is the most confusing thing about your post.
Why aren't you happy where you are?
Leave the house-shopping to people who need a house, which is not you.
A seller can ask any amount they want for a house/property. If someone comes along, likes the property, and agrees with that price, they will buy it. Saying something is overpriced only means that you, personally, don't want to pay that amount for the property. It might also mean that most people, individually, don't want to pay or cannot afford to pay, that amount for the property. And it might mean that a mortgage company will not loan that amount of money for the property.
But in my opinion, calling something overpriced will not get you anywhere. The only way a price will change will be if the owner is willing to "make a gift" of the difference between the asking price and the selling price to the successful buyer. So you need to sweet talk the seller rather than accuse him of overpricing the house, which implies you think he is trying to cheat you or is too dumb to see your reality. Just a thought.
A seller can ask any amount they want for a house/property. If someone comes along, likes the property, and agrees with that price, they will buy it. Saying something is overpriced only means that you, personally, don't want to pay that amount for the property. It might also mean that most people, individually, don't want to pay or cannot afford to pay, that amount for the property. And it might mean that a mortgage company will not loan that amount of money for the property.
But in my opinion, calling something overpriced will not get you anywhere. The only way a price will change will be if the owner is willing to "make a gift" of the difference between the asking price and the selling price to the successful buyer. So you need to sweet talk the seller rather than accuse him of overpricing the house, which implies you think he is trying to cheat you or is too dumb to see your reality. Just a thought.
So I called my realtor yesterday and we had a talk about it and I told her she needed to CALL the listing agent instead of emailing her. She did and the realtor used a two year old comp to support her value. My realtor found a two year old comp that blows her two year old comp out of the water. Either way, her value is ridiculous and nothing supports it.
She said they would not take an offer of $x which is around what I think it's worth, and my husband (who I knew would do this) thinks it's worth even less than I do. So I am not going to make an offer now.
I was speaking to an acquaintance this morning telling her about the situation and she said that realtor is notorious for overpricing things and then letting them sit for a long time. She said she had listed with her back in 2010 even though she wanted to use a different agent. She said it sat and sat and then they finally used a different agent and it sold. She said that another person who used her had their house sit on the market and had an offer and that they sold it a year later for $150k less than the offer.
There obviously isn't a lot of activity in the area, or at least activity in comparable homes. Your agent should've been able to use recent sales to counter. It may be difficult to sell the home if you buy it.
A seller can ask any amount they want for a house/property. If someone comes along, likes the property, and agrees with that price, they will buy it. Saying something is overpriced only means that you, personally, don't want to pay that amount for the property. It might also mean that most people, individually, don't want to pay or cannot afford to pay, that amount for the property. And it might mean that a mortgage company will not loan that amount of money for the property.
But in my opinion, calling something overpriced will not get you anywhere. The only way a price will change will be if the owner is willing to "make a gift" of the difference between the asking price and the selling price to the successful buyer. So you need to sweet talk the seller rather than accuse him of overpricing the house, which implies you think he is trying to cheat you or is too dumb to see your reality. Just a thought.
We haven't had any communications with the seller. We are not calling anything overpriced to them. My agent just contacted their agent to say basically, what are you thinking because if you have anything that supports your price, we are happy to look at it. There just isn't anything.
" I don't have to move. My husband doesn't want to."
If these things are true, why are you even house-shopping? This is the most confusing thing about your post.
Why aren't you happy where you are?
Leave the house-shopping to people who need a house, which is not you.
The reason I want to move is because we basically have no backyard. I have wanted a backyard for a long time but we were not in a position to move before and now we are. There was a big negative about every house we looked at until this one. The only negative on this one is the price.
It may be difficult to sell the home if you buy it.
I don't disagree with you but we are stuck here for at least 10 more years because I have a kid in 7th grade and I won't want to move until at least my kids are done with college so they have a place to come home to when they are at school and my husband is planning to retire in 8-10 years. As long as we don't way overpay for it, I think we will be fine.
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