I recently sat on a panel with Noah Rosenblatt of Urban Diggs who stated that market peaked in the third quarter of 2015. Now almost a year later most everyone has accepted that we are moving in a different direction. Our question is “are we taking that too far”. Emails like above read 2009 all over again. In fact we are not at the bottom of one of the worst real estate market dips in our history. Yes things have slowed but properties are still selling and in some circumstances, selling very well.
Stating that “Seller will consider all offers” can be translated to say; “we will take an offer at least 10% below asking” and “my seller is too nervous to drop the price but we are desperate” and even “Send me something anything please”.
It seems that i am now getting more and more emails just like this one. Great news for buyers, not a good move for sellers.