Dear Owner: I'm Not That Into Your Pad
By now you’ve probably read the Times article about negotiating for a home by sending a letter explaining a lowball offer; it’s been one of the top e-mailed stories on the paper’s web site for a couple days. In it, Rob Lieber drafts sample letters from both the buyer’s and seller’s sides. Apparently, epistolary haggling…
By now you’ve probably read the Times article about negotiating for a home by sending a letter explaining a lowball offer; it’s been one of the top e-mailed stories on the paper’s web site for a couple days. In it, Rob Lieber drafts sample letters from both the buyer’s and seller’s sides. Apparently, epistolary haggling is all the rage nowadays in places where the market’s tanked. Here’s part of the pretend buyer’s letter:
Dear Seller:
I’m writing to let you know that I would like to make a bid on your property. I love the area and am committed to buying a house nearby. And your home fits my needs. But given that my offer is well below your asking price, I also feel I owe you an explanation. First, consider the big picture. Nationwide, home prices in the first quarter of 2008 fell 14.1 percent compared with the same period a year earlier, according to the Standard & Poor’s/Case-Shiller U.S. National Home Price Index. That’s the biggest decline in the 20-year history of the data. And just in case you’re wondering, during the housing downturn of the early 1990s, the decline was never worse than 2.8 percent. Not only that, earlier this month, the National Association of Realtors pointed to the huge number of existing homes on the market. As of the end of April, the total number was 4.55 million. At the rate people are buying right now, that represents an 11.2-month supply. So buyers have options right now. A lot of them. I’m no different. Your home is great, but it isn’t unique…
Whoa! It’s a crazy letter-writing jungle out there. Anyone heard of this happening here?
Negotiating for a House? Start With ‘Dear Seller’ [NY Times]
Photo by The Fuzzy Squid.
bxgrl, so happy to see you! Good call on the “C”. Regarding the boots, I just noticed she was wearing them now. But who cares if they’re 30 years out of date? They have that sexy Jane Fonda / Barbarella vibe. And who cares if she can’t type? I’m sure she has other skills that more than compensate.
“why is there no greenery in the flower pot?” bxgrl, did you mistake this for the Garden of the Day or was that a loaded question?
bxgrl…those boots never go out of style.
Did she buy that typewriter at The Flea?
I stand corrected, Biff. I thought the C looked a little off.
I think she’s doing the C from YMCA – unfortunately no one told her you only use your arms. why is there no greenery in the flower pot?
BTG (bold type guest), it appears to be a variation of the classic Kama Sutra Crab position with the potential for a conversion to the Willow or the Wheelbarrow. For the less agile, it might otherwise be referred to as “Two Minutes From Traction” or “Pass the Vicodin”.
Those letters were totally offensive. Maybe in some hardball finance world that’s how you go about it, but 10:29’s strategy is more likely to get results. A seller would have to be absolutely desperate to sell to the (hypothetical) douchebag who made the NYT’s opening salvo.
I’m ashamed of you people- did no one notice her boots are 30 years out of date? And that make-up! Tsk-tsk. Well, she’s…er…quite limber. Biff- does that mean she’s a good typist?
I thought the article was really meant to be tongue-in-cheek. 😉
( and yes- I’m trying the registration route again)
You don’t see manual type writers like that anymore!!!!!! So Mr. B is this your way of outing Mrs. B? Would spice up the Forum section if this gal would anwser your plumbing questions…
“But one thing’s for sure: I don’t need some self-serving amateur economist telling me why I’d be a fool not to settle for his lowball offer.”
That “Low Ball Offer” will be the wishing price this fall and next year. In Real Estate the first offer you get is sometimes the best offer. Greed and Delusion will be the downfall of the Mutant Real Estate Asset Bubble.
BTW You better hope you can get a Mortgage. WAMU and Wachovia is looking bad now.
The What
Someday this war is gonna end…