The Daily Real Estate News featured an article, “Low-ball Offers a Thing of the Past?”, showcasing the fact that the Real Estate Market received a lot of low-ball offers in 2011. The numbers of low-ball offers are turning around and buyers are now offering a purchase price closer to the asking price.
Low-ball offers were pretty common in Downtown San Diego in the year of 2011. The 2012 market is showing that low-ball offers have reduced drastically. A survey completed by the National Association of Realtors state the fact that 10% out of 4,500 Realtors complained about low-ball offers in 2011 compared to no complaints in 2012. One reason could be that Downtown San Diego currently has a very low inventory of homes on the market with only 175 Downtown San Diego Condos and Downtown San Diego Lofts currently for sale. Many sellers are trying to price their homes realistically to produce offers close to the listing price. Downtown San Diego Real Estate buyers might think that they can get away with a low-ball offer, but it will most likely get rejected, countered or taken out by a competing offer. ')}