I didn’t know BusinessWeek Online had a real estate blog until I came across it just a few minutes ago, much to my surprise actually. I’ve always believed it to be proper web etiquette to link back to someone who linked to you. So with that, I’d like to thank Sam Coy for providing the link to my blog and provide a link back to the BusinessWeek Hot Properties Blog in return.
Lowballing is the profitable game of submitting a ludicrously low bid on a house just to see if the seller goes for it. The game didn’t get played much over the past few years, when houses were sold within hours for above the asking price. But for obvious reasons it seems to be enjoying a resurgence of popularity.
I just found this new blog about the northern New Jersey housing market. The blogger, named James Bednar, aka “Grim,” posted an item Saturday about houses that sold recently for way below their asking price, including one in Madison, N.J., that was listed for $2.89 million and sold for $2.3 million.
It seems just about everyone gets a kick out of Lowball! I get quite a bit of email from readers asking me to post Lowball! sales from specific towns and areas, and I usually try to accomodate them. In case you are wondering why I pick some of the towns I do pick, it’s usually because someone had asked.
If anyone would like me to keep an eye out for specific towns and price ranges, just respond to this thread and let me know!