But it may be enough to get us to a deal.ĬAMERON PARISH, La. It almost certainly is not going to be enough to break you. Please take another look at whatever mortgage calculator you’re using and see how your monthly payment will change if you brought your price up a bit. In the meantime, other shoppers who are interested in my home now have a price to beat. I’d just like you to consider what I’ve said and see if you find it convincing. This doesn’t mean that I do not want to negotiate. It’s probably obvious by now that I’m not going to counter with a particular number. So don’t let fear of a falling market keep you out of a home that you truly want. But an increasing number are in foreclosure and probably have problems lurking within the walls. Given that, I’d ask you to think about something: How often do you find a place that you can actually imagine living in? Sure, there are a lot of other properties out there. I know you talked about having choices, but presumably we wouldn’t be engaging in this correspondence unless you liked my home best. Many more qualified buyers should mean more bids, and I’m willing to wait to see if it turns out that way.
That is supposed to make it easier for people to buy a home with a down payment of 5 percent, or even less. Starting June 1, Fannie Mae and Freddie Mac, which buy mortgages from lenders and help make it possible for them to lend more money, are loosening restrictions on the sorts of loans they’ll buy in many markets. All sorts of buyers simply couldn’t make the numbers work anymore. Lenders went from giving money to anyone with a pulse to demanding higher credit scores and larger down payments. One big reason for the falling prices is that it’s harder to get mortgages. Instead, I’d ask you to consider what’s about to happen. I should point out that your data draws on what has already happened in the housing market. I knew I might have to wait awhile to sell it. But I do read the headlines, and I priced the house accordingly. You seem to believe that I’m not aware of how bad things are out there or that I’m in denial. After all, few people buy or sell anything else as expensive as a home in their lifetimes. We don’t do it often, and as much as we know we’re not supposed to let emotions get in the way, it’s hard not to. The fact is, none of us are very good at buying and selling homes. You’re right that my family and I have many great memories of this place, and we hope someday you will, too.Īnd I just want you to know that I’m not insulted in any way by your offer. I’m truly glad that you like our home as much as we do. Excellent Seller's response to a sneering low-ball offer: