Palos Verdes Lifestyle - Norma Toering 310-493-8333

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Confucius Conversation with Buyers and Sellers

I'm not one for studying tea leaves, but today I did buy a new bamboo plant for my office.  My resolution to remain calm and steady throughout these unstable housing market times wavered a bit yesterday. I felt like I was experiencing a Brittany-like bad day!

My sellers and buyers remain oceans apart.  Buyers, I'm sorry, but there are no blue light specials in Palos Verdes. Those half-price offers will likely be shredded. Sellers, I'm equally distressed to inform you this is not a good time to increase your asking price.  This is the time to make sure your property is playing her best hand.  Yes, I actually had these discussions yesterday.

Sellers, the buyers are venturing back into the marketplace. They want to purchase a home in 2008. Many are pre-approved.  Most are market savvy.  These are not 2005 buyers.  They will not overpay for a property. It's important to move from being the owner to becoming the seller.  Please remember, the buyer of your property will propel you to the next stage of your life.  He will help you move on.

Buyers, most sellers are reasonable.  They want to sell or they would not go through the inconvenience of placing their home on the market. If your offer is significantly lower than the asking price, submit a personal letter justifying the price and terms of your offer. Submit comparable sales in the neighborhood. Your agent can help gather a convincing bundle of evidence to substantiate the offer.  Your offer will be viewed as a genuine effort to purchase rather than a low-ball insult.  You desire what the seller has, and insults rarely foster a cooperative spirit.  Your mission is to court and impress the holder of the object of your affection.  Win them over!

With a few steps toward each other you, may find the current market a bit more  user friendly.

 

 

Norma Toering & Team RE/MAX Palos Verdes Realty
(310) 493-8333 / Office Phone: (310) 831-0800

South Bay Los Angeles cities I sell real estate and homes in: Palos Verdes Estates, Rolling Hills, Rolling Hills Estates, Rancho Palos Verdes, San Pedro, Long Beach, Torrance, Lomita, Redondo Beach, Hermosa Beach and Manhattan Beach.


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Norma Toering - Real Estate BrokerNorma Toering & Team
Broker-Owner - Charlemagne International Properties
310.493.8333 - Email Norma

 

 

 

 

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Based on information from the Association of REALTORS®/Multiple Listing as of the initial date of this article/blog publication and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Comments

Good tips on what to include with a low offer. 

Posted by Joe Pecoraro (REMAX- Big Bear) almost 12 years ago
Joe - Yes, it's just cold to send a low ball offer with no cover letter, comps etc. 
Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) almost 12 years ago
Norma, I love your little "Confucius Says" graphic.  I may print it out and hand it over my deskat work!
Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) almost 12 years ago
Patricia - My graphics pale in comparison to yours---but I'm working on it.  Now that my clients are beginning to discover my blog I need to raise the bar a notch or two.
Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) almost 12 years ago

Amen - Preach on Confucius.

I have been having these discussions at the listing presentation! The bad thing is that I ask the seller to be prepared to negotiate so we price accordingly.

Posted by Rebecca Savitski, NC Real Estate Listings (BSR Real Estate Group) over 11 years ago
Rebecca - Yes, I think 2008, year of the Rat, will go down in history as the year of negotiations for real estate professionals.  Things eventually come together but not without a lot of give and take.
Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 11 years ago

Norma, great points.....Brittany bad hair day? UGH....I hope it doesn't come to that LOL! Navigating whitewater right now....that's what it feels like but things will smooth out! I too love your graphic!

Colleen

Posted by Colleen Fischesser Northwest Property Shop, A Tradition of Trust in the Pacific NW since 1990! (RE/MAX Advantage | Managing Broker) over 11 years ago
Colleen - Yes that white water makes for a wild ride--but there's also a sense of acomplishment when you hit the calm water.  I agree, this bumpy stretch will pass.
Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 11 years ago

Great post!

Hope everyone in our profession do that comps for the parties involved first, not the last. 

Forgive me, I know it just my wishes that could not be true.

Posted by Ed Tse (richvalley) over 11 years ago
Norma, all good points. I think if buyers and sellers are "reasonable" with each other a deal will get done, and no one needs to go to the blue light specials. Great reminders.
Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) over 11 years ago
Ed - Presenting comps is only half the battle--accepting the comps is much more difficult!
Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 11 years ago
Gary - I'll be testing the "reasonable" level of a seller today--I'll let you know how that offer goes!
Posted by Norma Toering Broker for Palos Verdes and Beach Cities, Palos Verdes Luxury Homes in L.A. (Charlemagne International Properties) over 11 years ago

Norma

Yes, I know a man believe only whatever he wants no matter what the truth or reality is.

Posted by Ed Tse (richvalley) about 11 years ago

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