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How To Respond To A Low Offer On Your Home

Consider before you ignore a very low purchase offer for your home. A counteroffer and negotiation could turn that low purchase offer into a sale. When you receive a low offer on your house, the best response is to counter with a price you're willing to accept.

You just received a purchase offer from someone who wants to buy your home. You’re excited and relieved, until you realize the purchase offer is much lower than your asking price. How should you respond? Set aside your emotions, focus on the facts, and prepare a counteroffer that keeps the buyers involved in the deal.


Check your emotions

A low purchase offer still means someone wants to purchase your home. Unless the offer is rediculously low, it deserves a response. Remain calm and discuss with your Realtor the many ways you can respond to a low purchase offer.

Counter the purchase offer

Unless you have multiple purchase offers, the best response is to counter the low offer with a price and terms you’re willing to accept. Some buyers make a low offer because they think that’s customary, they’re afraid they’ll overpay, or they want to test your limits.

A counteroffer signals that you’re willing to negotiate. One strategy for your counteroffer is to lower your price, but remove any concessions such as seller assistance with closing costs, or features such as kitchen...

Indiana Residential Real Estate Market Analysis

January 1 to June 30 2011

Indiana Realtor Association

Indiana Residential Real Estate Market Analysis


Total State statistics:


While a -11.2% change in closed sales doesn’t look positive it should be noted that Jan-June 2010 transaction numbers were influenced by the “Federal Tax Credit” on home purchases. This accelerated the number of transactions that occurred in the first half of the year and depressed the number of transactions in the second half of the year, so second half comparisons should improve considerably.

It is healthy to note that the median sales price rose, which might signal that fewer low price REO  sales were occurring. Also the decline in inventory is another signal that the market is beginning to return to balance and the significant buyers market will lose its leverage as buyers have fewer properties to choose from.



By comparison to the state figures, the Clark County market has not begun to rebound. Inventory has risen and sales declined, which could both lead to the decline in Median Sales Price due to an abundant of properties to choose from causing continued pricing pressure.


Unlike Clark Co. Floyd has fared better this year. Inventory has declined faster than sales have declined leading closer to a balanced market. Although June’s median sales price was down, the YTD median has climbed 5.7%. We expect and hope this trend continues in Floyd Co.



Once again the decline in inventory outpaced the decline in sales in Harrison Co. leaving fewer properties for buyers to choose from. We haven’t seen a rebound in pricing as of yet but a continued reduction in inventory will eventually cause prices to stabilize and rise. Again the YTD median...

First Time Home Buyer Tax Credit


   H.R. 1, the “American Recovery and Reinvestment Act of 2009,” passed the House on February 13, 2009, by a vote of 246 – 184.  Later that day, the Senate also passed the bill by a vote of 60 – 38. The President signed the bill on February 17, 2009. The bill is a $780 billion package, with roughly 35% of the package devoted to tax cuts (mostly for 2009) and the rest to spending intended to occur in 2009 and 2010.
Homebuyer Tax Credit – The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  The credit does not require repayment.  Most of the mechanics of the credit will be the same as under the 2008 rules:  the credit will be claimed on a tax return to reduce the purchaser's income tax liability.  If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.
Frequently Asked Questions
In 2008, Congress enacted a $7500 tax credit designed to be an incentive for first-time homebuyers to purchase a home. The credit...
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