Naples FL Blog

Buzzzzzzzz about Buyers With Low Offers Sending Letters To Seller
June 5th, 2008 12:06 AM

There certainly has been a buzz in the real estate community since Ron Lieber with the New York Times wrote his article, Negotiating for a House? Start With ‘Dear Seller’ on May 31st.  This article must have struck a chord with Realtors across the country.

Some Realtors are totally against a buyer with a low offer sending a letter to the seller.  Other agents don't see an issue with it.  I for one am all in favor of it!  The broker who is working with the Buyer will need to obtain some proof from the broker that is working with the Seller that the Seller's agent presented the Buyer's letter to the Seller.

Here in Naples, as of today there are a total of 10,887 active listings on the market.  Since January 1, 2008 we have had 393.4 sales.  This means we are looking at 27.66 months of inventory.

Unless a seller and their Realtor are realistic about the current market, the Seller's home will not be sold.No matter how "special" the Seller's home is.....bottom line is that there are 10,887 listings on the market in Naples.  Most Buyers are looking at numbers.  Naples might have sun, sand and warm water.........

Beach at the Sandpiper in Pelican Bay, Naples FL

however, Buyers want to feel comfortable that they are making a good investment.

Mr. Lieber also has a suggested letter for a Seller to send back to a Buyer.  If the Seller is truly "in tune" to the market, this is a great letter.  Unfortunately there are some Sellers in Naples who are not in tune to the market.  Their attitude is that they will keep their home on  the market until they can obtain their price.  These particular Sellers have the finances to do that.  If you are that Seller, PLEASE take your home off the market until the market improves! I wish I had a crystal ball to see how many of those 10,887 Sellers in Naples had the finances to keep their place on the market until it improves.

I have said this before and I will say this again, I have refused to take more listings in the last 18 months than I have since interest rates were at 18% and there were NO adjustable rate mortgages! Can you tell this article struck a chord with me?

If you are a Seller in Naples, whose home is under $500,000.00, talk to your Realtor about trying to attract a FHA or VA buyer.  FHA has changed a great deal since I first wrote contract back in 1978.   If a Buyer is looking to purchase a residence, not a second home, FHA could be the way for a Seller to get their home sold.

 


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Posted by Lynn H. Wilber on June 5th, 2008 12:06 AMPost a Comment

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