Comments on: Prescott Arizona is a Buyer’s Market http://prescottrealestateroundup.com/2008/06/17/prescott-arizona-is-a-buyers-market/ Prescott, Arizona Real Estate Sales and Information Fri, 21 Nov 2008 16:19:36 +0000 http://wordpress.org/?v=2.3 By: Dawn Rickabaugh - Pasadena Note Queen http://prescottrealestateroundup.com/2008/06/17/prescott-arizona-is-a-buyers-market/#comment-26 Dawn Rickabaugh - Pasadena Note Queen Fri, 27 Jun 2008 07:59:46 +0000 http://prescottrealestateroundup.com/2008/06/17/prescott-arizona-is-a-buyers-market/#comment-26 Well spoken . . . I wish all sellers would get this! Wow, don't they love to chase the market down? Another blogger in my local market is putting together a list of all the properties that have been on the market over 90 days, because these are stale listings. (She was trying to come up with a clever name for this list and offered $100 to the person who could help her brainstorm . . . I'm personally waiting for my check: Real Estagnate, Petrified Properties, Dusty Deals . . . one of these has to work! :-) She's trying to entice buyers to work with her on these. You start low balling and trying to pick up a great deal, and sometimes it works because the "serious" buyers have quit considering the property at all and there are no offers coming in. The only way sellers might be able to minimize the "discount" needed to sell, is if they have the willingness and ability to offer terms. Advertising "Owner Will Carry" can greatly increase the pool of potential buyers for, and interest in, the property. Sellers can leverage price for terms if they're stuck on price. Being willing to carry back a note on the property, precluding the buyer from having to get bank financing, can be a powerful tool. Well spoken . . . I wish all sellers would get this! Wow, don’t they love to chase the market down? Another blogger in my local market is putting together a list of all the properties that have been on the market over 90 days, because these are stale listings. (She was trying to come up with a clever name for this list and offered $100 to the person who could help her brainstorm . . . I’m personally waiting for my check: Real Estagnate, Petrified Properties, Dusty Deals . . . one of these has to work! :-)

She’s trying to entice buyers to work with her on these. You start low balling and trying to pick up a great deal, and sometimes it works because the “serious” buyers have quit considering the property at all and there are no offers coming in.

The only way sellers might be able to minimize the “discount” needed to sell, is if they have the willingness and ability to offer terms. Advertising “Owner Will Carry” can greatly increase the pool of potential buyers for, and interest in, the property. Sellers can leverage price for terms if they’re stuck on price.

Being willing to carry back a note on the property, precluding the buyer from having to get bank financing, can be a powerful tool.

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