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  • "Manhattan real estate is the most expensive in the US per square foot with some properties topping $10,000: Study" - CNBC.com"Move over San Francisco — the Big Apple tops Silicon Valley as most expensive place to live in the United States, a new study shows. Per square foot, real estate in Manhattan is the most expensive in the United States, with the average property in the borough eclipsing all other locals. Based on that metric, some city properties even top $10,000, according to a report published Thursday by real estate and data analytics firm NeighborhoodX..."
  • "Jacksonville industrial development would span 3 million square feet" - TheRealDeal.com"A Kansas City, Missouri-based company plans to buy 156 acres in Jacksonville to build three million square feet of industrial space. VanTrust Real Estate LLC expects to break ground next month and finish construction of the first building in September 2019. The company expects to build three million square feet in three to six buildings at a Jacksonville industrial park..."
  • "$1bn for empty space: the saga of the world's most valuable real estate" - TheGuardian.com"A billion dollars is a steep price to pay for a whole lot of nothing – even if the nothing in question happens to be a prime piece of open land with commanding views over the mansion-studded hills of Bel-Air and Los Angeles. Still, a billion dollars is what the owners of the 157 acres perched between Benedict and Franklin canyons say they want, and they are not in the mood for discounts. At least in theory, the listing – known variously as the Vineyard or the Mountain – is an invitation to the ultimate gazillionaire to build his or her palace of dreams above a city famously built on them..."
  • "Las Vegas median home prices ‘slowing down’ this summer" - ReviewJournal.com"After a stretch of roaring price hikes, Las Vegas’ housing market seems to be tapping the brakes. Price growth is cooling down, sales have slowed, and the industry’s biggest trade group in town is dialing back expectations that prices will reach their pre-recession peak this year. By all indications, Las Vegas is still a seller’s market and not undergoing a wrenching change, and prices continue to rise faster than the national average. But collectively, the shifts could give buyers some relief. Southern Nevada home prices have been rising at one of the fastest clips in the country this year amid low availability and strong demand. Things have been so heated that Fitch Ratings in June deemed Las Vegas the most overvalued market in the nation..."
offrs reviews 5 tips to a successful home purchase negotiation

offrs reviews 5 tips to a successful home purchase negotiation

Negotiating the purchase price of a home isn't like many of the other negotiations you've experienced in your life. The time, money and emotions put into the home may repeatedly come to the surface just when you're making headway. Let's review a few tips that might just speed the process along from the start...

As seen on RealEstateForum.Boards.net...


So you've found the perfect home and you're ready to put in a purchase offer... it's an exciting (and perhaps nerve-racking) time in your life. Your real estate agent will be able to walk you through all of the stages that are coming next, but it may be helpful to get a grasp on the negotiation process as well. Let's review a couple of tips that can help you move things along as quickly and painlessly as possible.


1)  Expect an emotional roller coaster

Sellers are going to have emotions attached to the sale of their home. It's understandable though... after all, that cute little room you want to turn into an office space may have been where their little boy grew up before heading off to college. What does this mean to you and your family? It means that you're going into a negotiation that's slightly skewed in their favor. Not only do they hope to make a financial gain, they're also attached to the home and, more importantly, they can walk away (they already have a home if the deal goes south). This is all to say that going into a negotiation on a home is more than just wheeling and dealing. It may have a lot of emotional ups and downs where someone on their team is all gung-ho, but then the other has doubts. Then the other is on board, but the first one expresses new concerns. Going into negotiations with this understanding will place you in a better position than if you go into them unaware.


2)  Make a realistic offer the first time

Another consideration that will be driving their end of the negotiation is the promise of a more fitting home and a better financial standing for their next chapter in life. If you insult the seller with a low-ball number that only benefits you and your family, then your negotiation may fall apart before it even starts. The adage "you teach people how to treat you" is very relevant here. If you make an extremely low offer, then don’t be surprised if the seller makes a full price counter offer. Negotiation is about sacrifice and you should at very least look like you're meeting them in the middle. Doing your homework will be important. Work with your agent to look at the sales prices for similar homes that have sold in the area. Your agent will be able to determine if the asking price of the house reflects its true market value or if it's aimed high specifically to be whittled down in negotiations. If the asking price is reasonable, you can still make a lower offer, just don’t go too low as it may trigger their pride and derail your goals.


3)  Consider how long the home has been on the market

While you'll want to be delicate about it, there is a pain threshold associated with home sales. If a home has been listed for three weeks or less, then the owners are likely still testing the market and may not be open to much negotiation. However, if the home has been on the market for a month or two, then the seller is often at a point where they’ll be more open to options.


4)  Consider the seller’s motivation

There are times when a seller is in no hurry, so they aren’t motivated to consider offers below the asking price. Other times, a seller may already have a contract on another home and wants to avoid paying two mortgages or they may even need to relocate within a certain time frame for say, a new job. Your agent will have the resources and expertise to uncover the seller’s likely motivation and this will be invaluable to your team. For instance, your agent may be able to talk to the seller’s agent as an interested third party. Sometimes the seller’s agent won’t divulge any information about their client’s motivation, but it never hurts to ask.


5)  Consider ways to make your offer more attractive

Sellers think about more than just the price. Anything you can offer them to make the transaction easier may ultimately help your cause. For example, get pre-approved for a loan before you start looking for a home. You'll be in a stronger negotiating position because the seller doesn’t need to worry as much about accepting your offer only to have the deal fall apart due to financing issues down the road. Other things you can offer include a quick turnaround on the inspection (which shows your enthusiasm). If you can arrange a quick close with your lender, that’s usually another perk the seller will be interested in. Some buyers have been successful purchasing a home for less than the seller might have otherwise considered by personalizing the transaction. If you’ve fallen in love with the home and want to raise a family there and if you plan on taking great care of the home, let the seller know. Sometimes the personal touch and an emotional connection to the home means more than another few thousand dollars.


Final Thoughts

If you really want the house, don’t get discouraged with a bit of negotiation. Always make multiple counter offers if the seller is still engaged. You won’t lose anything and you just might get your new dream home at a price both you and the seller consider fair. But, keep in mind that if the negotiation isn't progressing, you may need to move on. Being able to walk away is your power card in this deal.






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