Sellers want "Top Dollar"; Buyers want "A Deal".

"Top Dollar" in a changing real estate market is not really different than "Top Dollar" in any market. It is what a willing, ready and able buyer will pay for a property. Overpriced homes do not sell in any market and in a market that has changed, there is no margin for erring on the high side. In most markets, slightly underpricing often leads to multiple offers and the seller may be able to realize the best possible price.Buyers who want "A Deal" look for properties that have been on the market a while and then write offers that are considerabley under the listing price. Most Sellers will not accept these offers and will either completely reject them or counter with a much higher price than they might have considered. The best strategy is always to consider an offer only slightly below comparable property data.Buyers who are serious about buying another home at the best possible price, need to select a professional real estate agent, ask for comparables and get pre qualified with a lender. Knowing the market and being guided by a professional can very often lead to "A Deal"Sellers need to make their property clean and crisp. The most profitable improvements include painting, cleaning and repairing. Sellers' goals need to be to make the residence as close to a"model home" as possible.
Original post date December 12, 2006.