A question every home buyer has

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Do you think they will take less for the house?

There was a time in our St Petersburg Real Estate market when I answered this question by saying "They might be a little negotiable on the price, and we should try to make a lower offer, but if you really want to buy this property, be prepared to pay full asking price "

That was the time when we had a low inventory, lower property taxes, bank wanting to lend money, stable economy and we would get multiple offers on a house or condo within 30 days.

Well, this time has gone, the inventory is at an all time e high, banks are very careful when it comes to lending money, nobody can call our economy stable and houses and condos sit on the market forever, the only times when we see multiple offers is with foreclosures and short sales.

Today, my answer is much longer and not this easy.

Will they take less than asking price?

"There is a very very good chance that they will take less, it depends on how motivated they are. I have seen properties sell for 30 to 40 % less than they sold for in 2005"

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