Home buyers, relax...they aren't selling the home anyway!
Just as an example, look at this house, which was listed last month on the market for $2 million before. It is a nice house. Now it is listed for $2.1 million.Â
So, what is the point? When home buyers are ready to buy houses, do your thorough research and come up with the offer that you strongly believe that it is a fair market price (no need for low balling). Then, just seat back, relax, and let the home sellers to select the highest bid. Home buyers don't need to come back to overbid each other many times because the end result would be that the home owner's asking the agent to re-list with a higher price when they see someone desperate for it. They aren't selling it anyway! Besides, there is no need to hurry to buy until the end of the year when you will know for certain regarding the fiscal cliff issues that your future mortgage interest and property tax deductions will be reduced or capped, and by how much. Will your decision of buying a home change at that time? Just think about it!