Congratulations Lowballers!
A big congratulations out to the successful lowballers this week. For those that don't understand the term, a lowballer is someone who offers significantly under asking in hopes that the seller accept the offer (for whatever reason). I'd like to personally thank this weeks lowballers for providing hard evidence that sellers can, and will, accept significantly lower offers than the industry would lead us to believe. To all prospective buyers reading this blog, while I won't endorse buying in todays market, if you must buy, at least use the leverage you do have as a buyer, you might be very surprised at the result.
The list please!
MLS# 2104202 - Orange Ave, Elmwood Park, Listed at $460,000, Sold at $328,000 (28% Reduction)
MLS# 2075472 - Lakeside Blvd, Roxbury, Listed at $209,000, Sold at $155,000 (26% Reduction)
MLS# 2090124 - Far Hills Road, Springfield, Originally Listed at $719,000, Reduced to $669,000, Sold at $500,000 (25% Reduction from Reduced Price)
MLS# 1677437 - Mountain Ave, Pequannock, Listed at $1,500,000, Sold at $1,150,000 (23% Reduction)
MLS# 2104393 - Fox Chase Road, Chester, Listed at $1,090,000, Sold at $845,360 (22% Reduction)
MLS# 2076961 - Franklin Street, Hackettstown, Listed at $279,000, Sold at $229,000 (18% Reduction)
MLS# 2088435 - Andrea Court, Paramus, Listed at $1,425,000, Sold at $1,200,000 (16% Reduction)
MLS# 2091116 - Willow Grove Road, Westfield, Listed at $1,450,000, Sold at $1,262,000 (13% Reduction)
MLS# 2100547 - Mountain Ave, Berkeley Heights, Listed at $399,000, Sold at $350,000 (12% Reduction)
This was just a very small sampling, over 455 sales has successful lowball offers from Sunday October 29th, until this morning.
Caveat Emptor,
Grim
The list please!
MLS# 2104202 - Orange Ave, Elmwood Park, Listed at $460,000, Sold at $328,000 (28% Reduction)
MLS# 2075472 - Lakeside Blvd, Roxbury, Listed at $209,000, Sold at $155,000 (26% Reduction)
MLS# 2090124 - Far Hills Road, Springfield, Originally Listed at $719,000, Reduced to $669,000, Sold at $500,000 (25% Reduction from Reduced Price)
MLS# 1677437 - Mountain Ave, Pequannock, Listed at $1,500,000, Sold at $1,150,000 (23% Reduction)
MLS# 2104393 - Fox Chase Road, Chester, Listed at $1,090,000, Sold at $845,360 (22% Reduction)
MLS# 2076961 - Franklin Street, Hackettstown, Listed at $279,000, Sold at $229,000 (18% Reduction)
MLS# 2088435 - Andrea Court, Paramus, Listed at $1,425,000, Sold at $1,200,000 (16% Reduction)
MLS# 2091116 - Willow Grove Road, Westfield, Listed at $1,450,000, Sold at $1,262,000 (13% Reduction)
MLS# 2100547 - Mountain Ave, Berkeley Heights, Listed at $399,000, Sold at $350,000 (12% Reduction)
This was just a very small sampling, over 455 sales has successful lowball offers from Sunday October 29th, until this morning.
Caveat Emptor,
Grim
8 Comments:
Hah! Oh well, at least this mania is coming to an end. I kind of feel sorry for those folks that are going to be left holding the hot potato.. Actually, no, no I don't.
Grim
THIS IS JUST THE BEGINNING REMEMBER. MOST OF THESE SUCCESSFUL LOW BALLERS ARE PAYING HISTORICALLY HIGH PRICES.
IT ALWAYS OVERSHOOTS TO UPSIDE AND UNDERSHOOTS TO DOWNSIDE.
PRICES HAVE A LOING WAY TO GO DOWN AND IT'S GOING TO HAPPEN QUICKER THAN EXPECTED. A BLOODBATH.
THRIFT AND PRUDENE WILL BE REWARDED FOR ONCE. NOT LIKE IN PAST SEVERAL YEARS WHERE ANY ZOMBIE PAYING ANY PRICE AND LEVERAGING UP THEIR FUTURE LOOK LIKE A GENIUOS. IT'S GOING TO BE SHOCKING FOR SOME.
THE REAL ESTATE INDUSTRY IS TO BLAME FOR THIS AND SHOULD BE EXPOSED FOR THEIR GREED AND ARROGANCE.
Grim,
Appreciate your data and facts but to make this info relative you need to go back 5 years and 10 years and show the facts.
Prices even at these insane prices are still over inflated big time in relation to any metric uyou want to hear.
Of course sellers and realtors will deny deny deny. So let them go ahead and buy buy buy if things are so chep.Probably most of them couldn't afford the house they live in.
Email to Boronson and other media people.
It is their duty to inform the public and the facts. Lets see if they do their duty.
The snowball is really picking up speed downhill! hehehehehe
Just want to ask a stupid question: which website you guys use to get those MLS information?
Thanks
Grim,
Thanks for taking the time to gather and present this info.
Fijai
I agree, there are many towns planning to do revaluations early next year. I seriously doubt they'll roll back those tax increases after the decline.
grim
I have been following a site now for almost 2 years and I have found it to be both reliable and profitable. They post daily and their stock trades have been beating
the indexes easily.
Take a look at Wallstreetwinnersonline.com
RickJ
Post a Comment
<< Home