Would it be more accurate to state you question as"
"How much underpricing in Boston Area?"
Underpriciing the the 'magical' tool to create a bidding environment resulting in a sale above list price. The uninformed could believe this to be overbidding.
Of course we all recognize those who have been shopping for a home. at the top of their price point, for months and have failed in every attempt will interpret this as others foolishly overbidding.
The reality is a willing seller and able buyer determine the market value.
Not what the buyer can afford.
Not the statistics.
Not even the banks appraisal.
Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
it does not matter how much the overbidding is. You (homeowner or investor) should always go by your budget. Do your research or have your broker help you determine what the market value may be for a particular property then default to your budget and make your offer-s based on that.