Homebuyers Go to Extremes in Hot Markets
Friday, May 13, 2005
LOS ANGELES — Potential homebuyers are going to extremes when making offers in superheated real estate markets across the country.
In states like California and Florida, low interest rates and high demand have kept prices soaring for the past few years. Some real estate agents are suggesting potential buyers make their offer stand out with personal touches.
"I had a client last year offer Lakers playoff tickets to the seller if their offer was accepted, and they actually did get their offer accepted," said L.A. real estate agent Sherri Noel.
Other potential buyers are submitting heartfelt cover letters.
"I tell a little bit about my job," Susan Kenninger, who is looking to buy a home. "I have a stressful job and want a place that's serene to come home to."
However, some veteran real estate agents say at the end of the day, money still talks the loudest.
"I would say 90 percent of the sellers don't care. I mean, when it comes down to it all they really care about is getting the maximum amount of money," said real estate agent Jerry Jaffe.
That goal isn't so difficult these days as some homes are selling for hundreds of thousands of dollars over the asking price. But, like the dot-com boom, many analysts believe the real estate market is in a bubble that will soon burst.
Until it does, buyers may need both cash and charisma just to get their foot in the front door.
foxnews.com |
