September 24, 2009
Fair Market Value? Assessed Value? What's "Fair" About it?
Last week I presented an offer on a lovely lakefront home. The buyers had considered multiple properties and selected this particular house because of its location, condition, and value. The offer was very low – so low that the sellers, who are serious sellers in a tough market, not only refused to counter the offer, they refused to consider any future offers from these buyers. This experience illustrates the dichotomy between buyers, who have been repeatedly told the “market is bad” and sellers who are looking for clean, realistic offers from qualified buyers.
While sales throughout southeastern Wisconsin have certainly weakened, lakefront and lake access properties are considered highly desirable. Short sales, foreclosures, and “compromised” sales are rare in the lakefront market and if you’re one of those buyers looking to buy at the right price and at the right time, chances are…the time is now. Someone once said, “The only time you’ll know you’ve missed an opportunity is when you’re looking at it in your rearview mirror.”
I think that’s going to be true about buying high end properties at value prices. If you’re a serious buyer looking to purchase a lakefront home while prices are low, your opportunity is in front of you. Your best guide to “market value”?
- An informed, knowledgeable agent
- An experienced realtor; one who can discuss the similarities and differences between the property you are considering and recently sold properties.
- Work with an agent you trust
- Learn everything you can about the specific lakefront market you’re considering – visit my website, www.SellingLakeGeneva.com. When you “Click Here to View Lake Properties” you’ll be able to access almost all the lakes in Racine, Walworth, Kenosha, and Jefferson Counties!
- Know your buying power
- Make an offer that can become a win-win for all concerned.
Posted by:
Janis Hartley
Tagged With:
assessed value,
janis hartley,
jefferson counties,
kenosha,
lake geneva,
lakefront home,
market value,
racine,
walworth
and wisconsin
Share With a Friend
Leave a Comment