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Sellers remorse.

It happens. Lately, I have heard of it happening more often in Macomb County.

Recently buyer clients of mine put an offer in on a home in our area. The home had been on the market for well over 6 months, and saw various price changes. What the home sellers did, in my opinion, was to “chase
the market downward.” (That is another post entirely!) Instead of pricing their home to sell in this market they kept lowering it slowly, but never lowered it far enough to keep up with the declining market values.

Yes the home was well kept. Yes the sellers updated the home. Yes they put quite a bit of hard earned money into the home. That didn’t change the sad fact that the home was overpriced for the current real estate market.

My buyer clients made a very fair offer based upon location, condition, and current estimated market value. The offer wasn’t rejected, but it was counter offered to nearly full asking price.

The savvy buyers decided to look for another home. With thousands of homes on the market right now in our area of Michigan, they didn’t have to wait too long to find another home that not only met their needs and desires, but was also priced appropriately.

The agent that was representing the sellers of the home that my buyers declined to purchase at near asking price called me. He asked if my buyers had found another home yet, or were they still possibly interested in the home that was rejected.

Sellers remorse? It happens. The first home is still for sale, and yes, at the same price.