Avoid lowballing in the Seattle market
The Seattle housing market hopes to soon be booming again, some real estate experts say. Real estate in Seattle is being snapped up left and right, making it a true sellers market. However, experts urge buyers to keep offers close to the listing price so they don’t end up in the back of the line on a home.
With high demand and a low inventory of homes in Seattle, sellers are now able to list their homes for a reasonable asking price and ignore buyers who are trying to lowball sellers. Since March, homes are staying on the market for only a short time, especially those in the 206 area code, which covers all of Seattle and several surrounding suburbs.
Some buyers play by the hope of a lucky number when lowballing, but this can end up bad, according to The Seattle Times. A lowball offer is typically when a buyer proposes a price 25 percent or lower in a contract, which often ends with the contract being tossed out or is answered with a counter-offer from the seller closer to the asking price. As the market is currently so tight, this maneuver is unlikely to work.