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Real Estate Examiner
Showing entries for Category: buyer-tips
Showing entries for Category: buyer-tips
The psychology of a listing price
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Chalk this one up in the "sad but true" category. Not all listing prices are created equal, even if the numbers are the same. There are many examples of sellers who list their home for X and don't sell. They then lower the price to Y (or even to Z), and the house sits on the market at that price, seemingly forever. Had they priced it at Y or Z in the first place, the house would have sold. How can that be you ask? Simple psychology -- potential buyers assume either that something is wrong with the house (why else would it have been on the market for so long?) and/or they smell weakness and assume that the seller will lower the price yet again. My advice to buyers: 1. Try not to let "days on market" bias you against a listing. 2. Don't be afraid to make an offer, even if it's a lot lower than the asking price!
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Advice to buyers
| We all know that this is a buyer's market. Home prices are way down; foreclosure sales (which usually contain bargains) are way up. And mortgage rates are also down. So if things are so good for buyers, why aren't there more deals getting done? Because... Read More |
Why buy when you can rent?
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| Here's a tip for buyers in this crazy market: consider rentals. Why? I'm not suggesting this because it's not a good time to buy -- it probably is a good time to buy, actually. (But more on that in future posts.) There are a lot of sellers who don't... Read More |
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Spencer Rascoff
Spencer Rascoff is CFO and Vice President of Marketing at Zillow.com, one of the leading Real Estate sites. Here he will help you better understand and respond to the ever-changing market.
Spencer Rascoff is CFO and Vice President of Marketing at Zillow.com, one of the leading Real Estate sites. Here he will help you better understand and respond to the ever-changing market.
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