Lowball [UN] reality
Sometimes you just have to wonder about people. Sure there are lots of available homes for sale in Charleston and many sellers are motivated to sell their home and move on. And buyers can expect to find some very good deals in today's Charleston real estate market. But that doesn't mean that you can expect a seller to simply give their home away.
Take this lowball bidder (please). 
A buyer (and I'll use the term rather loosely) hit the request info button when searching the Charleston MLS and asked me whether the seller would consider $600,000 SIX HUNDRED THOUSAND (asked in capital letters) for a home listed for sale at $829,000 or a mere 27.6% discount from the list price.
In the past year, the selling price of homes for sale in Charleston have averaged 94.43% of list price and homes for sale over $600k have averaged 90.94% of list. So on average, we're talking a 5.5% or 10% discount. And of course, these are averages so some homes sell a little closer to list and other homes sell at a larger discount.
Now how about 27.6%?
So I played along.
me: A seller can accept, reject or counter. Make an offer.
lowball: Tell me more about the house.
me: Have you seen the home.
lowball: Only online.
me: Do you have a solid preapproval letter from a lender or proof of funds, if cash.
lowball: Tell me more about the house (again).
me: Bye, somehow I don't get the feeling you are for real.
lowball: BIG MISTAKE! (again, all caps)
Well, I don't think it was a big mistake because I really didn't perceive this person (again, I'll use the term rather loosely) was for real.
He didn't see the home in person, he wouldn't provide an answer to how he was going to pay for the house (or appear to be a strong buyer to the seller), he just wanted a lowball deal.
If you owned that home, would you even consider that ridiculous offer?
The likely answer, not a chance.
Photo courtesy of Flickr by Scoobymoo.