Prudential California Realty
People think that the LISTING PRICE is set in stone,
and it may not even be a good guide to the Market Value or the eventual selling price.
Just have your Realtor do a CMA to determine the Market Value;
If the Seller wants too much, you are not going to get it past the Appraisal anyway!
Good luck and may God bless
It probably isn't listed with two separate brokers. It's probably listed with one or the other--or maybe a third one somewhere. And it'd be listed at one price. That price can go up and down, but there's no way that, on the same day, it can be listed at two different prices.
OK. So what's going on. It was listed for $800,000 but didn't sell. That's a signal it was overpriced. It came back on the market, apparently at $700,000. It may have had the price reduced to somewhere in the 6s. All of that's an attempt to spark some interest in the property.
Now it's back to $700,000. It's possible that the drop down below $700,000 sparked enough interest that the seller thinks he can get an offer if it's priced at $700,000. That offer still might (and probably will) be below $700,000.
What you need to do, if you're interested, is to get your own Realtor and have him/her do a CMA on the property. Then make an offer for no more than--and probably slightly less than--the property is worth. My totally uninformed guess is that it might be worth $625,000-$640,000. So if it was listed at $650,000, that certainly could have prompted some interest.
The jump in price suggest to me that while there was interest at those lower prices, there wasn't a solid offer. If there had been, the owner might have (should have) taken it. But he's figuring: "Aha! Let's ease the price upwards a bit and see what happens."
What would I do? As noted, get a Realtor to do a CMA on the property and then make an offer at or below that figure. For a number of reasons, I'd go in slightly under the CMA. Give yourself some negotiating room. Just recognize--as you already do--that you're not dealing with the sharpest knives in the drawer.
Hope that helps.