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Wiggle Room, How Much To Offer On Maine Real Estate Property Listings?

Wiggle Room, How Much To Offer On Maine Real Estate Property Listings?

Ah, the magic formula to determine what to offer on Maine real estate property listings.

To know how low like Limbo will they go. And not have to pay any extra for the Maine property you have your eyes and heart set on.

As much as folks figure there must be a standard amount, percentage off any seller of Maine real estate will bend to, to make the deal, there is not.

Can not look it up like a geometry or trig math formula. Sorry.

Because every seller has a different life situation and markets for real estate in Maine, anywhere vary.

Supply goes up and down of the various type property listings in the Maine market. Motivations and expectations change. How big a mortgage if there is one severely limits what the property owner can and can not do. Even with the short sale process that Maine is the 4th lowest state for that kind of liquidation activity.

The family grieving over the loss of the last surviving parent think their Maine home is worth more than any other pretty much just like it.

And a few of the heirs live in swanky, glitzy, expensive zip codes far from down to Earth value Maine. Think the Maine real estate agent or broker that did the realistic market value pricing is too low. Off base, out of whack.

In the case of lots, too many cooks in the kitchen to please at arriving at a marketing price, those family members may head south in time. Go from over priced to creating a pendulum bargain. Letting it go for less than they could have received. Because time sets in.

Shelf life mold starts to grow as buyers in the audience start thinking “must be something wrong with that property listing”.

It just sits there week and week, month in and out. Without any price adjustments to lead, reflect the Maine real estate market. To place it in the higher end of a lower price property search bracket for on line Maine real estate buyers. To stand out, get sold quicker.

There are about 27,000 thousand listings in the Maine MLS and some suggest that 25 percent of that inventory is over priced. Bloated, getting in the way of a healthy list and sell Maine real estate market traffic flow. How do over priced properties get on the market, why does that happen? Agents, brokers anxious to plant a sign in the front lawn with their colors cave in. Take the Maine real estate listing at any price.

Or ask the owner the dangerous “what do you think it is worth?” Whoa.

The Maine real estate expert wears the blue and gold “R” and should be supplying the answer to that question. Based on comparison with what has sold like the property, what is on the market competing for a buyer to say “I can, I will, I do”. Ready willing and able Maine real estate buyers that do their home work know what a typical property listing like your is worth. And they drive the market with an offer.

ruby_slippersTrying to click those ruby red slipper heels to get a Maine home.

To own some Maine real estate. But where the offer goes means stay tuned. Over improved properties with sellers wanting to recoup all the marbles expended may be stuck.

Not realistic or caring if money invested was a smart area to plow the dead Presidents.

Example, in ground pool in Maine for a short swimming season and all the lakes we have to enjoy can be a wash.

Or drawback to someone that does not want it. And the buyer sees removal, filling a hole and landscaping as one added expense. An extra half bath, building a garage in weather rich Maine might have been a smarter move to orchestrate when opening the wallet, purse to make a property expenditure.

The terms and conditions of the Maine real estate buyer don’t just involve the new reduced price tag they want to see hanging on the property listing either.

News flash. The seller suddenly has a chance to get a whale of deal on a property in a new relocation area that just became a blue light special shoppers. If they pounce on it. Can sell quickly. So last week the price on the Maine property was set in stone, granite solid and unwavering. Today that is all out the window. Ready to move the property stat. Things have changed. It can happen in buyers and seller’s lives and does the longer any Maine real estate deal lingers.

What to offer starts with knowing the market. That the property listing is fairly priced going in or not. And the realisation that the price you pay may have to be the one quoted on the MLS print out. Or that the real estate listing in Maine is so grossly over price that no way the bank appraiser for the loan you need is going to go along with the figure. Which you learn after shelling out $400 appraisal fee. Wasting precious time on a property listing destined never to get to the long Maine real estate conference table for a closing.

Offer too low and you insult the seller happens too.

Not taken serious as a real contender for the property thinks the property owner. And sometimes it is a clear classic case of the property is worth the price it is marketed at but just that the buyer can not afford the real value. Is qualified for less of a home or other property listing that they are hankering.

The old champagne tastes on a beer budget happens. In Maine real estate sales, in anything in life. All the media hype about pockets of foreclosure, short sales and repossessions in other parts of the country don’t help either. Just like a weather forecast for California or Florida is not going to fit properly in Maine or other areas of the nation right? Each real estate market is different just like theacadiamaine buyers and seller situations in it.

One bit of advice. Making the offer, how it is made makes all the difference in the world.

Real estate buying and selling is one pretty big emotional experience.

Lot at stake, think about and ponder.

Heaps of money being expended or mortgage promised to pay back over three long decades.

Instead of take it or leave it, or the property is only worth this much because of three hundred items you point out as deficiencies, try another approach. Would you consider, entertain an offer on the property of blank? Then back off. Negotiating the sale, making offers.

Give the seller, owner of the Maine real estate property listing a day to chew on it.

Digest. Consider. Because right off the bat, if a gun to their head, right now drive through quick answer is needed it will be no in most cases. No, they don’t want to, but with a little time and patience, they might, will sell for this figure. And remember, a compromise is where neither party is hand stand flip happy or both consider they got a fair shake, good deal. But the deal is made.

Or pushed aside for others to stand at the Maine real estate marketing dance punch bowl that are game. Hoping for a spin, dance to fall in love with the seller’s property listing. Maybe actually be able to buy it. Before it’s time to go home and the bright house lights come on. And every one is told good night. We don’t care where you go but you can’t stay here. Time to go.

I’m Maine REALTOR Andrew Mooers, ME Broker

207.532.6573  |  [email protected]   |   MOOERS REALTY  69 North St  Houlton ME 04730

 

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Andrew Mooers

Welcome to our Maine real estate website. I am the father of four grown children, have listed, marketed, sold properties for close to forty years. Lots of changes in the real estate industry over that many decades and daily we re-invent our job. I grew up on a Maine farm that I bought from by three older brothers. My youngest son continues in the tradition on that same Maine farm. Here to help with property searches for homes, farms, land, waterfront, multi housing rentals, small mom and pop business listings.

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