Lee Ginsburg

DEAL or NO DEAL
September 23, 2008 · · 3 Comments

Deal or No Deal?

    Everyone’s definition of a “DEAL” is different.

Many of today’s buyers are in the mindset that a “Deal” is purchasing a home below current market value.  What is current market value?  It is the price a willing and capable buyer is willing to pay and a seller is willing to accept.   Below Market sales do not occur in today’s web 2.0 world.  Information is plentiful for both the buyer and the seller.  Properties priced below market value are not kept a secret for long.  Homes listed at below market prices wind up getting multiple offers and sell at the price determined by the bidders which is now the market price.  Many of these people looking for this type of “DEAL” have not purchased anything and may not because they continue to offer below the market price. They are not the only buyer out there.   I recently heard of aproperty with 89 offers. The demand is still very strong. Before the internet many properties were kept a “secret” because it took more time, effort and money to get the information out; so yes purchasing below market value was possible then but not now. Read more