Unfortunately, I think that the media has done a total disservice to today's sellers. The buyers seem to be under the impression that every seller is desperate and should just take anything. That is simply not the case. Our market in Fountain Hills is down about 40% since 2006 and there are some really great buys out there. Most homes are already priced at today's market value. If they have been on the market for a long time (chasing it down) you will see that they likely started at a much higher price but they have already come down! Those homes that have recently come on the market have come on at current market value. Now, if you have found a home that you are interested in purchasing your agent should show you the current comparable sales. If at that time, it appears that the home is priced above market value you have just cause for offering a lower price. On the other hand, if it appears that the home is priced at - or even below market value, then you have no justification for a low ball. That seller has simply priced his home to sell, which is probably why it appeals to you in the first place. It is already a good deal! The good news is that it appears that we may have finally hit bottom. :)
