Due to supply and demand, home prices have come up. But using a Realtor who properly educates the Seller on pricing their home, and identifying their motivation is resulting in a much quicker turn around. The key is timing...after 30 days, the listing begins to grow stale in the Buyer's eyes, and even though they take price reduction after price reduction...it's too late!
Unfortunately, some overpriced listings are there because the Seller was not properly educated, or the agent may be giving the Seller false hopes on a price, simply to get a sign in the yard, and get Buyer calls.
The properties I am seeing sit...and sit...and sit, and FSBO's. Unfortunately, in most situations, they are so attached (emotionally) to the home, see the market (less inventory), and have a tendency to overprice their homes...hence they sit.
So finding the right agent for the job is imperative...not just the guy with the most signs out there!
I am another consumer looking for a house, but I am finding in this market nothing but phoney, unsupported pricing from Freddie Mac, Fannie Mae, and HUD. This is obviously due to their restriction of inventory onto the market. That aside, do as professionals would say. Only offer what the house is worth to you and evaluate the comps in the area. Realize list prices are indeed inflated and watch out for their self-interested multiple offer forms. Just a nice trick to inflate prices. Let the other buyer be the fool who pays too much and try to find a house listed at a competitive price instead of the bogus prices the government entities are creating. They are monopolizing the market, controlling the prices, and profiteering. Anti-trust in any other industry. As they sell more and more of the only truly discounted properties to Wall Street criminals, we will see the shift to the society of renters who rent from the wealthy. Sounds awful to me. Totalitarian ownership caused by the issue you are bringing up here!
We have to deal with Sellers who think that their idea of the property's worth, is realistic!
Yes, we see this.