Bid Low, Bid Low Bid Low, Bid Low.....

bid low, bid low, bid low.... everybody..... bid low, bid low, bid low

If you get desperate and you feel like it's not working....... well..... fight realtor hype with fire...... get 4 or 5 of your friends to see the aprartment and have them submit low offers...... knock the hyped up values down...... bid low, bid low, bid low..... brokers use cheap tricks, hit them back with some. Bid low, bid low, bid low. Form groups and just go out and bid low...... bid low.

This is suppose to be a buyer board, so do something practical, coordinate, go ouw and bid low, bid low, bid low.

I agree, this is what buyers need to do - join ranks and put some rationality back into this market. WE have been pushed around long enough and until we start talking with our wallets nothing is going to change.

I agree! I bid $300K for a manhattan studio priced @ $349K. The broker was mad, insulted, refused to counter offer such a low bid....for about 6 hours...then she came back at $325. She's holding another open house for that apartment today. I know this market better than she does; she should have accepted my offer, or sold it for about $310K.

I think you really have to decide what something is worth to you & then bid accordingly. That's the only thing that makes sense to me. Also, as more than one person has said on this board, don't fall in love with a place until it's yours.

I bid low on $750k ask price, in january, seller refused to respond, so i held my position. Today his apt is on for $695k. I bid low again (lower than my first bid). i bet i'll pick this property up for around $600k in september/october.

wow you are so smart

A property is only worth what someone (you or someone else) is willing to pay. By lowballing, and telling your 6 or 12 friends to do the same on the place you want, well that might work in the short term.

Ultimately you will only see low ball offers when the market goes south and it moves from the buyers -> no mans land -> sellers market. This is the nature of every asset class, property is no exception, and there are no bubble/froth proof markets.

When it moves to a sellers market, thats the time to start really lowballing. It's all about timing (isn't everything?).

Good luck to sellers and buyers out there - it's certainly interesting times for us all, even the spectators not in the market.

While you can bid low there will always be some one else willing to pay more and you will not get the apartment. There is a shortage of inventory along with historically low interest rates, low unemployment and a good economy.This is what is driving the market.Low bids generally are not taken seriously and this strategy is not a smart one if you are serious about the apartment. However, it can work on an overpriced apartment that may be sitting on the market for a long time as the seller may finally start to realize that his/her price is unrealistic and if he wants to sell he/she will have to lower his/her expectations but this is not the norm.

BOOOOOOOOOOO!!!!! This aint a broker thread, take a hike #11, we heard all about those factors, time for a new strategy......... you obviously havent read the post........ doesn't matter though, its not for you.........

Everybody, stop rationalizing, justifying, convincing yourself you should pay more and more........

Just

Bid low, bid low, bid low, bid low, bid low, look at place.... hit it with 4 or 5 lowball offers...... bid low, bid low, bid low.......

Dont read or buy into articles about how prices are going higher, why Manhattan is always astronomically going higher, etc. just bid low, bid low, bid low...... every body..... bid low.

Brokers dont care about you or your well being, they number one concern is their commission, dont listen..... just, bid low, bid low, bid low, bid low.

bid low, bid low, bid low, bid low......

REPEAT

bid low, bid low, bid low, bid low......

If you are buying in Manhattan..... and the seller scoffs, tell them you can get more space in dumbo, lic, astoria, or riverdale....... if you are buying in the boroughs, bid low as well, do the usual whining about the commute, etc.......... just bid low, bid low, bid low

bid low, bid low, bid low, bid low......

REPEAT

bid low, bid low, bid low, bid low......

When bidding in the boroughs, tell the seller's how cheap, dallas, houston, and atlanta are.

bid low bid low check out da place, then... BID LOW... bid low fellas just bid low how lo? so lo that it gets them and then.... bid LOWER

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CUT TO: matsonjones, self-tanner in pocket, driving his leased Lexus down "Depreciating Asset Boulevard," singing along to David Lereah book-on-tape....

...to his beautiful NYC condo where he'll be living with his family and building a massive amount of equity for the next 20+ years while the OP and #21 reamin bitter renters ever after.

i agree saw a towhnouse for 3.2 - offered 3 and they said NOOOOOOOOOOOOO then yesssssss

Definitely bid low. I've been watching the market since the fall. Unfortunately for sellers, #11 is wrong across the board in the under-$400K (which I know is the bottom of the market). Co-ops sit and sit and sit. Also, just take the time to the street easy data if you don't believe those of us who are out in the market.

I'm #6. I ended up agreeing to $325K for a different, much better Manhattan apartment (better building, better 'hood, better vu, and slightly bigger), priced at $349K. Both of these apartments were "well priced" based on recent sales. My atty is still reviewing the contract so I haven't signed yet, but I really don't care all that much -- there are at least 5 other Manhattan apartments I know of right now that are just as desirable to me.

Do expect, however, to run into seller resistance with low offers. I know from past real estate experience that as soon as agree to sell, your neighbors start complaining that you sold too low. The neighbors usually know NOTHING about the current real estate market but last time I went through this, they were mad a me. Too bad; we did well, and we knew it, because we knew the market.

Re: the claim that inventory is low... excuse me?? Compared to what? OK maybe if you will only live in one particular building, on floor X, facing west, with a new bathroom in purple, but otherwise, huh?? Any flexible buyer who is willing to really surf the web will get overwhelmed pretty quick (and don't forget to visit Craig's List).

One last salvo: Buyers, don't be afraid to make multiple low ball offers at once. Don't lie about it, but don't offer that you're doing it. You don't owe anybody anything. I was on the verge of doing this before I made a decision to pursue this one apartment, which I really do adore. But if you find 2 or 3 units that are fine, and your budget is tight, bid LOW on all three and see what sticks.

How low to bid? I set out to go 12-15% below asking but if the asking price is truly informed, that can be too severe....maybe. As per my earlier post, once they get over the shock things can change, so it may not hurt to try! Some asking prices are just NUTS and in those cases I really do feel sorry for the poor broker showing that place.

LOL resorting to desparate tactics just proves that its still a seller's market.

I am not a broker but the only way the bid low strategy works is on apts that are sitting more than 40 months on the market. Show me a condo in Greenwich village, Soho pr Tribeca that has great views, and is at a fair price and you are going to det a bidding war. Low bids work more for coops in lousy locations with flaws.

this whole post is retarded. go ahead, bid low. see what happens. a few anecdotes about "waiting and watching" after low bids can't negate overall trends.

good properties dont go to "low bidders"; crappy overpriced ones do.

you get what you pay for.

agreed 27

#26 Exactly. I just received a low bid which was tossed out and now we will have a best and final and will definitely go way over the asking price. Bid low if you are not serious about getting the apartment or if it has been on the market for a while but that would be an indication that it is priced too high.

#26 Exactly. I just received a low bid which was tossed out and now we will have a best and final and will definitely go way over the asking price. Bid low if you are not serious about getting the apartment or if it has been on the market for a while but that would be an indication that it is priced too high.

#24 here. Anything that sells "way over the asking price" was priced below market, obviously. That's a tactic sellers and agents sometimes use to try to move apartments. It was mentioned in the NY Times real estate section recently as a strategy. Gives brokers something they can brag about when it works. The downside is, you will lose some potential buyers who immediately think "I wonder what's wrong with that place" and with so many apartments to look it, well, I just didn't bother with listings like that.

Asking below market in hopes of a bidding war is playing on the eBay psychology -- you don't really need that ceramic bunny planter, but boy, when you see somebody outbidding you, you just gotta have it, or you will die!! Or at least, some people get like that. If you get like that, you're no Donald Trump and you are probably going to pay high, and after closing the broker will send you a really, really nice potted plant!

The most vital thing for buyers to do is get data on recent sales (last 6 months). If you can't get enough data on this site, pursue other avenues, but get that data. Pretend that you're an appraiser, instead of someone in love with this apartment, when you try to figure out a fair price. An appraiser goes by recent sales prices for comps, plus and minus certain things that have set values -- fireplaces, high floor, etc.

And use some shoe leather going to open houses and seeing the turn-out and the look in the brokers' eyes and keep your poker face on!!! And your significant other needs to do that, too!!! If you have to talk, talk about something other than the nice things about the apartment. You don't have to dis it, but keep your mouth shut.

Another thing, I do try to find out from the broker if the seller is really interested in selling sometime soon or at all. If the answer is vague or without any urgency, sometimes I think the seller is just testing the market and isn't serious and the buyer might be wasting his/her time. Or perhaps there is something bad about this building I had better find out. If the place is vacant, that's useful information too.

Sellers differ widely on how desperately they need to sell. That's one reason 'you get what you pay for' isn't as true in this instance as it is in some other things in life. There's also the board approval process to consider -- if the board is fussy, the seller knows that a good board prospect at a lower price is a much safer bet than an iffy prospect at a higher price.

#27 and #28 have brainwashed themselves over time into the psychology of high prices.

#30 You are a broker, you have a vested interest in the status quo...... whatever you say is suspect and probably motivated by self interest...... high bids benefit you..... take a hike, this aint you thread.

Plevy,

WHY DONT YOU TALK ABOUT HOW BROKERS WITHHOLD LOWER OFFERS FROM SELLERS TO MAKE THEMSELVES LOOK GOOD.

Bid low, bid low, bid low, bid low, bid low......

bid low, bid low, bid low, bid low......

REPEAT

bid low, bid low, bid low, bid low......

#34--even assuming that to be true, were it not for the fact that reasonable offers were ALSO coming in fromthe rest of us, the broker would not be "looking good". Any broker would rather submit low offers than no offers at all. Thinking you are going to make the buying market march behind you like lemmings artificially deflating the market to better suit you is a bit delusional.

and #33, this board is not your private club, and it is not up to you to dictate who can post on any given thread.

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

You can't stop #40 it is slowly gaining momentum.

bid low, bid low, bid low, bid low......

REPEAT

bid low, bid low, bid low, bid low......

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

Some people will decide what works after they give it a good try and not stop because of the pleas of nervous brokers.

To the OP Jackass and the jackass that keeps saying bid low. Do you really think you are going to have an impact on NYC real estate market by posting thes childish ramblings on this board.

oooooh.... I sense some fear, #44, what if it DOES work? Who will bring down the house of cards?

oooooh.... I sense some fear, #44, what if it DOES work? Who will bring down the house of cards?

I don't this it's fear. All this "bid low, bid low, bid low" crap is really annoying.

I think its desperation

... from a buyer who doesn't know what to do.

fear of what. this board probably represents .00000000000000000000001% of all the potential buyers in NYC

bid low guy needs to get his medication levels rechecked

bid low, bid low, bid low, bid low......

REPEAT

bid low, bid low, bid low, bid low......

LOW LOW bidding will help you get the price you want so.... BID LOW BID LOW BID LOW BID LOW

why pay for someone's else's retirement? what did they do to deserve hundreds of thousands of dollars? not much... housing prices just.... shot up thank you bubble psychology.

bid low, bid low, bid low

keep renting, keep renting, keep renting....

btw- there are many of us posting BID LOW... it ain't just one fella. =\

Bid high, dudes. Look at the asking price, double it, then bid even higher.
Bid high bid high bid high.

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

REPEAT

bid low, bid low, bid low

keep renting, keep renting, keep renting....

Hey, #47,

"I don't this it's fear. All this "bid low, bid low, bid low" crap is really annoying."

Then...why...are...you....reading....this board?

i for one kept on reading cause i was wondering for how long the aggravating "bid low, bid low" crap could possibly go on for. seriously, it's annoying. we get the point. you can stop saying that and say something else pls.

"Bid Low" attitude would have cost me my new apartment. Long story, but "bid low" is not always the answer. Sometimes it is though. Carry on.

You're not seeing the big picture #58.

Oh REALLY - and the big picture is what, exactly, #59?

I propose a new chant - "DO YOUR HOMEWORK AND BID SMART, DO YOUR HOMEWORK AND BID SMART, DO YOUR HOMEWORK AND BID SMART, DO YOUR HOMEWORK AND BID SMART, DO YOUR HOMEWORK AND BID SMART.

Granted, it's not as catchy as "BID LOW", but perhaps it's more realistic. That's my "big picture" thought of the day.

my dog ate my homework.

I just heard that Lucida sold out 50% in 3 months.....so much for housing bust

How is 50% = sold out?

Even Barbara Corcoran says "Bid Low". I wonder how plevy can explain that........ Barbara has already made her millions, so she is giving honest advice?

http://www.barbaracorcoran.com/blog/?p=135

corcoran didn't say buy low. don't twist her words.

bid low, bid low, bid low......

keep being a bitter renter, keep being a bitter renter, keep being a bitter renter......

REPEAT

bid low, bid low, bid low......

keep being a bitter renter, keep being a bitter renter, keep being a bitter renter......

REPEAT

bid low, bid low, bid low......

keep being a bitter renter, keep being a bitter renter, keep being a bitter renter......

REPEAT

#67 you are in denial...... read between the lines.

What she said is on a very similiar wavelength.

No, for undesirable properties. Read between these lines:
Location, location, location

No One saying keep being a renter....... just bid low.....

No One saying keep being a renter....... just bid low.....

No One saying keep being a renter....... just bid low.....

No One saying keep being a renter....... just bid low.....

No One saying keep being a renter....... just bid low.....

Most people here are too afraid to submit a lower offer on even an undesirable property #71.

71 here, Well I just stick to desirable properties myself

So you just pay the full ask and dont even try to negotiate #74?

AHAHAHAAHA, Some broker or seller finally flipped out.... and the NEW STANDARD FOR OBNOXIOUS (#76)

If you were following the bid low commenters you would see this isnt just about money....... some people, no matter how much money they have dont like manhattan prices...... period..... get that through your thick F*&kin skull #78......

to #79:

If you were following the commenters you would see this isnt just about money....... some people, no matter how much money they have think the OP's posting of the same stupid post all over this blog is retarded and puerile ...... period..... get that through your thick F*&kin skull #79......