Anything that I post in this site can be quoted. I feel like I've done my homework (and will continue to do so) and hope that my experience, good or bad, will bring buyers back to the market. I do have one particular question to ask you concerning your earlier post. You stated:
"In those situations, don't be surprised to pay full asking price, if not more than asking price. But that doesn't mean you're paying too much. For example...if the property is priced at $400K, but it's fair market value is $450K, then paying $425K is still a great deal."
Could you please define, or explain who does define, fair market value? You see, I'm active duty military and have done my share of moving over the past 4 years. I've moved from NC, where I purchased my last home, to Phoenix AZ in 2005 where I didn't DARE buy a home, to Layton UT in 2007, where I was told BUY BUY BUY because the market was great, great, great, only to watch it freeze up and DROP by 15% (and this area still remains the example of a good market). All the while being told by professionals that the current asking price of homes was the "fair market value". It only takes a quick "google search" to find out what happened to these markets during these time frames. I have good reason to believe that this will be my family's final move and would like to be able to own my home again. I have considered buying at all "stops" along the way and noticed several "quirks" in the real estate business. I noticed that when agents represent sellers they claim "we will get you the MOST amount possible for your home". Yet, when agents represent buyers they claim "we'll make sure you pay FAIR MARKET VALUE". What I want to hear from someone that is representing me as a BUYER'S AGENT is "I will work as hard as I can to make sure you pay the least amount possible for your next home." BTW, if you need to add closing cost and seller concessions in these numbers feel free to do so. I'm an intelligent guy I can handle the details. :)