How to get a good deal on the MLS in a hot market
Hello! I am just wondering how you find your good deals on the MLS. I always thought there are only 2 ways: 1) you jump on a good deal the second it hits the market and have an offer in within 24 hours or 2) you offer a little lower on a house that has sat for a couple of months. I'm in a very hot Boise, Idaho market and we have tried number 1 several times with no results. We get in multiple offer situations and the price goes way up. So we tried 2. We offered $6k (plus $4k closing costs) below asking on $172k house. The sellers considered it a "low ball offer" so much that they didn't even counter offer!! The house has been on the market for 2.5 months and has already had a price drop from $179k. Did I do something wrong? How do you make these deals work without offending people? I don't plan to ever overpay for a house and I would like to find a "good deal" so do I just keep offering a little below asking price hoping for a seller who actually wants to sell? Thanks!