I have a client looking for a deal on a home at The Boulders. But like so many potential buyers today, he's been told by friends and the media that he can get a steal, so he's half convinced he wants to offer 60% under asking price on a bunch of houses at once -- the first seller to accept is the winner of his purchase. Okayfine.
Being in the trenches daily, I'm here to tell you that 99.9% of sellers are not going to react well to an offer that's 60% below their asking price. Buyers shouldn't expect to buy houses at 40 cents on the dollar. Maybe you can do this on a few short sales but be prepared to wait 2 to 4 months for the bank to approve your offer, if they ever do.
So to help this buyer see what's really going on, I created a spreadsheet for him of market data in the area. It shows home sales in the Boulders since Jan 1 2007, including the initial asking price, the final list price, the days on market and the list to sales price ratios.
Since I've been lax lately about blog posts, I'm making my work for that buyer into today's post. Interested in prices at The Boulders? Look no further. Homes for sale at The Boulders are here, or email me and I'll add you to the list of folks who get this data pushed to them daily.