[quote author="RobertLarsen" date=1250594327][quote author="davenlei" date=1250555642][quote author="Sunshine" date=1250320283][quote author="davenlei" date=1250315905]Rancho Grande is pretty nice. We actually had an offer on a house there but the sellers (maybe influenced by agent) were asking way more than the property was worth and were not willing to budge or have a true negotiation to get to a deal. It is still on the market the last time I checked a few days ago.</blockquote>
Is it the one that has the sign "By Aptt. Only"? It's been on the market for quite some time.</blockquote>
I did not look at the details of the listing but there is no sign in the front of the house. Our last offer to them before we walked was pretty good. We were about $20K between our offer and their asking price (around a 2% difference). Even with that small spread, their agent said to not resubmit the offer unless we were willing to strengthen it. Apparently it seems they were not willing to counter and wanted full price only. We were prepared to come up some if they came down some and my agent said he was willing to help close the gap with some comission. So if they just countered, I think we cound have had a deal but their agent just slammed the door by stating "Strengthen our offer before resubmitting. The sellers are pissy with all the buyers". It is a very nice house but I am not willing to pay top dollar for an older home when I can get a 15 year newer and larger home very close by for the same price. I am sure it will sell but probably not for what they are asking. I heard the other offers were in the same range as ours and none of them were willing to pay what they sellers wanted. Since it is still on the market, I guess they might have chased away the other 3 offers as well.</blockquote>
2% difference and they rejected the offer? That sounds crazy. If a property doesn't sell in the first few days of the listing or a price reduction, it's most likely not going to sell for 100% asking. 2-5% is most common. Have you checked the loans on the property? Maybe they just listed the property to meet the banks requirement to do a short sale.</blockquote>
They have owned the place for over 15 years and have over a half million in equity free and clear once they sell. They are fast approaching 90 days on the market. I think they have too much emotional attachment to the house and want to feel compensated for all they have 'put into the place'. They have already bought another place and are moving. It will be interesting to see what they do then. I am sure with their crazy low mortgage, they can carry the loan for some time if needed.