Discounts on Leavenworth Homes

As a Leavenworth real estate agent one of the most common questions I hear is "How much should we offer on this house?"

The answer always depends on the motivation of the seller, time on market, and a dozen other factors.

While we do expect to see some low offers in a buyer's market due to the oversupply of homes , buyers often ask "is there such a thing as too low an offer?"

I think so.

Recently, someone asked me if an offer of 50% of the list price was worth offering on a lot I have listed for sale. I asked the seller and he agreed. No thank you.

I had a hunch that offers for less than 20% below the listed price aren't likely to go very far.

I checked the sales so far in 2009 and this is what I found:

% of recent list price for sold Leavenworth homes

% of recent list price for sold Leavenworth homes

What do we see:

  • Half all homes sold for a discount of 5% or less.
  • No homes sold for more than a 20% discount.

What does this mean?

These aren't the discounts off the original list price. The small discounts mean that buyers need to follow the seller's lead. Sellers who are ready to sell will lower their price to meet the market.  When a seller has a listing price that is 30-50% more than what you are willing to pay, it means they aren't likely to accept your offer.

Sellers - if you aren't seeing offers it means your home is listed too high. Americans aren't used to doing a lot of haggling. "They can always offer lower" is a good sound byte, but it's not likely to sell your home.

In an upcoming article I'll take a look a condo prices in Leavenworth and Kahler Glen to see if they match this pattern.

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Required Disclaimer

NOTE: This representation is based in whole or in part on data supplied by the North Central Washington Association of Realtors or its Multiple Listing Service. Neither the Association nor its MLS guarantees or are in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the Market.

Comments

Some interesting stats from around the country on how much negotiating power buyers have. http://www.zillow.com/blog/homebuyers-lose-a-bit-of-negotiating-power-in-august/2009/10/08/

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Allyson and Geordie Romer

Leavenworth real estate agents - Allyson and Geordie Romer

For over a decade, Allyson and Geordie have been serving clients in the Leavenworth-area real estate market. Together, they work tirelessly to stay on top of the regional market and present the most relevant opportunities to their clientele.

When not in the office, they can be found exploring the endless recreation opportunities of the area in all of its seasons.

 

Testimonials

 

Geordie provided excellent real estate representation! We appreciated his detailed knowledge of the market, his up front and honest approach, and his negotiation skills.
As reviewed on Zillow  – 

- Laura Anderson

 

 

As “west siders” looking for a getaway near Leavenworth, Geordie provided insight … his knowledge of design features important in a “snowy winter wonderland” was appreciated. Thanks Geordie!
As reviewed on Zillow  –
 

- Jean Stern

 

 

Geordie made this somewhat complicated transition easier for us…going above and beyond to help us work through issues that came up during the sale of our parents home. We appreciated his knowledge, attentiveness to details and his willing spirit.
Our family is grateful for Geordie!
As reviewed on Zillow  – 

- Terry Foster

 

 

Geordie was great in every way. We have been looking in the Leavenworth area for some time, and Geordie was absolutely the best for local knowledge, history and depth on neighborhoods, developments and the local market trends. He was very quick to respond (even when he was on his vacation) and worked very diligently to get all of our questions answered in a very timely fashion. We would recommend him highly to anyone looking to buy or sell a home. Very friendly, and helped us navigate all of the local options before we made an offer on the property that we purchased. Thank you, Geordie!

As reviewed on Zillow  – 

- Ryan Olsen

 

 

It was such a pleasure to work with Geordie and his wife, Allyson on our cabin purchase. They showed us a variety of locations, listened to what we wanted and helped us find the perfect match. Everything was smooth and not stressful, just relaxed and easy. We would definitely recommend Geordie and use him again if the need arises!

As reviewed on Zillow  – 

- Cammie Schlosser

 

Moving to Leavenworth?

Are you looking for a cabin or a condo in Leavenworth that your family can use as a home base when climbing, skiing or hiking around Leavenworth or Lake Wenatchee?

Maybe you rent a house here and have decided to stay, surprised how a summer of rafting somehow turned into seven years.

Maybe it’s time to escape the hustle of the big city (and its rain) and move to Leavenworth with its four seasons.

Maybe you bought a condo years ago, don’t seem to use as much, and it’s time to sell.

Whatever your motivation, we are here to help. If you are buying a home, the best place to start is with our Homebuyer’s Guide to Leavenworth.