Lowball Larry - A Follow-up - Palm Beach Real Estate and Loans

Lowball Larry - A Follow-up

Just a little bit of a rant for this morning-

I finished off last week's Time to Buy post with a mention of Larry the Lowball Loser.....

After getting a bit of abuse from readers for calling the semi-mythical Larry a 'loser', I thought I'd explain things a little!

This type of Client tends to lose out on some really good deals because they insist - against some excellent advice - on making ridiculously low offers on homes. I'm talking 50% of list or even less. Most of the time a Seller will not even bother to counter an offer like that. If they do it won't be with numbers - it will be with 2 short words.

Prices are low right now and there are certainly some great deals out there, but way too many people have gotten the idea that EVERY Seller should be thrilled to be offered ANYTHING for their property. Nothing could be further from the truth!

This all goes back to Do You Want to BUY Palm Beach Gardens Real Estate or Play Games?

These folks don't seem to realize that if a property could really be bought for so little, it would have already been snapped up!

So, if you're thinking of buying Palm Beach Real Estate - REALLY buying it - while prices are low, let's get together while some is still available.

http://www.palmbeachrealestateandloans.com/00439A

Posted on September 22, 2008 10:49:11 by Marc.Blasi - View Profile

Posted in Palm Beach, Buying

Comment from: Kitt Perfect [Visitor]

· http://www.kittperfect.com

Having recently had "Lola the Low Baller" in my car for two days I'll share a bit of my experience. Every time we left a home she would make comments about how much she would offer (usually about 50-60% below list) and I would give her my opinion on a "fair market value". Each and every time, with stars in her eyes and a "glazed over" expression on her face she would say "But Kitt, you just NEVER KNOW"!!!!! Maybe they're desperate now that the stock market is crashing". Yada, yada! Until she comes up with a crystal ball there is no way to know the financial condition of the seller!!! I must say, though that she finally started listening a little when she found "the home" she "wants" and I spoke to the listing agent on the phone and relayed to Lola that the seller is wealthy and not in a hurry......let me tell you.....she changed her tune and started talking about an "almost full price offer". She still went home empty handed and asked me to keep sending her listings that I think she might be able to get for half price. Yea, I'll take care of that right away! I wish there was a way to come up with financial demographics for sellers in certain areas that I could show to her to proove that they're not on welfare!

Thanks Marc!

Permalink October 18, 2008 09:51:01

Comment from: Marc Blasi [Member]

· http://www.ballenislesre.com

Hi Kitt -

I'll never knock someone for wanting to save a few $$, but some people out there have a VERY skewed view of the market.

Here's to finishing the year STRONG!

Permalink October 18, 2008 10:58:09

Comment from: Jeremy Larkin [Visitor]

· http://www.GoStGeorge.com/blog

Marc:

This is a national "epidemic." The same thing happens out here in Utah, as I just did a short video about this week: http://www.gostgeorge.com/Blog/Quit-Missing-the-BEST-Deals-St-George-Market-Report

The biggest problem with Lowball Larry is that he is his own worst enemy. He doesn't actually ever BUY anything, but rather spends his days speculating and hoping for the deal of a lifetime whilst the real investors buy great pieces and keep on creating wealth.

Onward!

Permalink October 27, 2009 20:56:28

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