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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: TheStockFairy who wrote (156)	8/2/2001 8:48:36 AM
From: Mark Ivan	Read Replies (2) \| Respond to of 306849

I always thought this would work wonders: Say the listing price is $250K. Buyer: Offer $240K Seller: Counter offers something like $245K Buyer: Counter offer $238K Seller: Confused. Asks why you offered even lower than original offer. Buyer: Because your house is no longer worth as much as it was a week ago. Seller: Refuses offer. Buyer: (week later) Offer $237K Seller: Refuses. Pissed off more Buyer: (2 weeks later) Offer $236K Sellers: Refuses. Pissed off and getting concerned he/she may not be able to sell house Buyer: (2 weeks later) Offer $235K. Seller: See that house price keeps going down, gets disgusted and signs contract. Sort of like a stock you own. Price keeps going down and you finally throw in the towel. Mark

To: TheStockFairy who wrote (156)	8/6/2001 5:46:57 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 306849

Nice flush on the RRECI today, eh?<G>

To: TheStockFairy who wrote (156)	8/7/2001 8:51:23 PM
From: David R	Respond to of 306849

On my first house, the original listing was $249K. After several months, they just dropped the price to $229K. I offered $210. They countered with $222. I countered with $220 with seller giving $5K to cover non-recurring closing costs ($215). Then the inspections uncovered dangerous wiring that had been done by the owner, and we negotiated $4000 to cover electrical upgrade and some other small issues. So my purchase price was $211K. I re-wired the house myself, and had it painted and some minor landscaping. We sold for $315 1.5 years after we bought it.