During 2011, low ball offers were fairly common in Scottsdale AZ. Realtors wouldn’t blink when they received a low ball offer. In fact, 10% of Realtors said they received at least one low ball offer on one of their listed homes. A low ball is usually considered an offer that is more than 25% off of the list price. The number of low ball offers that we are seeing in Scottsdale has dropped dramatically during 2012. Most buyers realize that this is a waste of their time. There is often not even a remote possibility that a Seller will consider an offer that far off of the list price.
There is a lot of competition for homes in Scottsdale right now and the Sellers know it. The inventory of homes for sale in Scottsdale is at a 3 year low. There simply aren’t enough homes on the market. There are more buyers than good homes for sale. The only time a low ball offer is even a possibility is if the home has been on the market for over a year. The longer the home is on the market, the more likely it is that an owner will consider a significant price reduction.
Visit our Scottsdale real estate trends page for more information on how the market has changed in the past year.
Feel free to call me at (602) 791-0536 with any questions or to schedule an appointment to view Scottsdale homes for sale.
Carmen Brodeur JD
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260