Asked by Jed Lane, Petaluma, CA • Sat May 3, 2008
below market and then generating multiple offers. I know that's unusual but it is the damands of the market. I recently lost a listing because I priced at $750K and received no offers till expiration. Next listing was at $699K and it sold for $735K. Closer to my price than to the lower price. I have to recognize the market and work in the market that exists.
Market value is only set when the ready and willing buyer buys but the marketing price is a different issue that I think is driven by the market in which the property exists.
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