{"id":1972,"date":"2007-09-28T09:29:49","date_gmt":"2007-09-28T16:29:49","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1972"},"modified":"2007-09-30T08:05:20","modified_gmt":"2007-09-30T15:05:20","slug":"looking-for-a-bargain-priced-home-if-you-dont-flinch-the-seller-will","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1972\/looking-for-a-bargain-priced-home-if-you-dont-flinch-the-seller-will\/","title":{"rendered":"Looking for a bargain-priced home? If you don’t Flinch!, the seller will"},"content":{"rendered":"

This is my column this week from the Arizona Republic<\/i> (permanent link<\/a>):<\/p>\n

\u00a0
Looking for a bargain-priced home? If you don’t Flinch!, the seller will<\/b><\/p>\n

Let’s talk a little bit about buying strategies. Last week’s rate adjustments by the Federal Reserve Bank may have scared up a few buyers. I’m taking a lot of calls from Canada, and investors seem to be trying to time the bottom of the market.<\/p>\n

Here’s a simple idea: If you were to buy a newer three bedroom, two bath stucco-and-tile suburban tract home for $160,000, putting 20% down, it would be cash-flow positive at $850 a month rent. That includes everything, mortgage, HOA, taxes, maintenance, vacancy — everything. The positive cash-flow would net out to about $5 a month after taxes, but the point is that the Phoenix real estate market is back to the point where a rental home is self-amortizing. If home values go up in the future, so much the better, but the home will pay for itself either way.<\/p>\n

Here’s a better idea, one that has been making me crazy for more than a year. The name of this game is Flinch!<\/p>\n

Normally, when buyers are looking for a home, they’re looking for that one unrepeatable masterpiece, the only home they could even consider buying.<\/p>\n

What if, instead of looking for one ideal home, they resolved to look for three — or five — that might fill the bill? Now they’ve got bargaining power.<\/p>\n

The game works like this: Make multiple low-ball offers on all the houses that might work for you, with all of those offers being subject to your final approval. Make it plain to all of your sellers that the first one to salute goes under contract, and the others go home empty handed.<\/p>\n

This is exactly what sellers were doing to buyers two years ago, with multiple counter offers. By now there are at least eleven homes for sale for every qualified buyer. It’s time buyers exercised their incredible negotiating power.<\/p>\n

What happens if it doesn’t work? Try again in a different neighborhood. Or try same neighborhood six weeks from now. Here’s the trick to winning at Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is my column this week from the Arizona Republic (permanent link): \u00a0Looking for a bargain-priced home? If you don’t Flinch!, the seller will Let’s talk a little bit about buying strategies. Last week’s rate adjustments by the Federal Reserve Bank may have scared up a few buyers. I’m taking a lot of calls from […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,6,5],"tags":[],"class_list":{"0":"post-1972","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-investment","7":"category-marketing","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":5374,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5374\/restoring-a-bargain-priced-lender-owned-home-is-easy-if-you-have-cash-but-a-hud-203k-rehab-loan-makes-it-easy-even-if-you-dont\/","url_meta":{"origin":1972,"position":0},"title":"Restoring a bargain-priced lender-owned home is easy — if you have cash — but a HUD 203k rehab loan makes it easy even if you don’t","author":"Greg Swann","date":"November 1, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0Restoring a bargain-priced lender-owned home is easy -- if you have cash -- but a HUD 203k rehab loan makes it easy even is you don't Last week we talked about troubled homes and how they can\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":184,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/184\/flinch-whipsaw-sellers-to-get-the-house-you-want-at-the-price-you-want\/","url_meta":{"origin":1972,"position":1},"title":"Flinch!: Whipsaw sellers to get the house you want at the price you want . . .","author":"Greg Swann","date":"August 7, 2006","format":false,"excerpt":"Ardell has a story today about a multiple-bidder contest that occurred I know not where. As described, the situation would have been an Undisclosed Dual Agency in Arizona -- even though both of the clients betrayed were buyers. Two agents of the same broker engaged in a bidding war, which\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2155,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2155\/how-low-can-they-go-negotiating-a-real-estate-bargain\/","url_meta":{"origin":1972,"position":2},"title":"How low can they go? Negotiating a real estate bargain","author":"Greg Swann","date":"November 3, 2007","format":false,"excerpt":"This is my column this week from the Arizona Republic (permanent link): \u00a0How low can they go? Negotiating a real estate bargain Everybody wants a bargain. The question for homebuyers is, how do you get one? I was in a property last weekend with a buyer. The home was listed\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1872,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1872\/what-can-sellers-do-differently-to-get-their-houses-sold\/","url_meta":{"origin":1972,"position":3},"title":"What can sellers do differently to get their houses sold?","author":"Greg Swann","date":"August 31, 2007","format":false,"excerpt":"This is me in the Arizona Republic (permanent link): \u00a0What can sellers do differently to get their houses sold? There are three houses for sale on my street. All three are comps to each other -- around 2,000 square feet, three bedrooms, two baths. They're priced within a thousand dollars\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4880,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4880\/if-you-have-cash-or-can-qualify-for-a-mortgage-this-could-be-the-ideal-time-to-grab-a-bargain-priced-home-in-the-phoenix-area\/","url_meta":{"origin":1972,"position":4},"title":"If you have cash or can qualify for a mortgage, this could be the ideal time to grab a bargain-priced home in the Phoenix area","author":"Greg Swann","date":"October 11, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0If you have cash or can qualify for a mortgage, this could be the ideal time to grab a bargain-priced home in the Phoenix area The Phoenix area is hosting a wave of real estate investors like\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":155,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/155\/how-to-turn-100-into-27000-in-eight-years\/","url_meta":{"origin":1972,"position":5},"title":"How to turn $1.00 into $27,000 in eight years . . .","author":"Greg Swann","date":"July 29, 2006","format":false,"excerpt":"That sounds like a late-night TV pitch, but it's actually possible in residential real estate. Housing is distinct from other investment vehicles in important respects. Unlike securities, real estate is a hard asset with an enduring intrinsic value. 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