Last April one of the home buyers I was working with made an offer on a property that she just loved but it wasn’t a full price offer. The property needed some maintenance and when we compared the asking price with homes like it that had recently sold in the area it was easy to see that the home was over priced.
The sellers rejected the offer and generally gave us a bad time and went on and on about how much the place is worth and how easy it will be for them to get their asking price. A couple of weeks later we found another place and the same buyer made a full priced offer on the home. Her offer was accepted and she is very happy with her purchase.
We had both been kind of watching the other property because we want to know how much it sells for. My guess is that the seller will end up with less than what my buyer offered because the property has now been on the market for 120 days.
There was an inspection contingent offer on it but now that offer appears to have gone away and the property is still on the market. I am sure the owners still believe in the price that they are listing it for because they still have it at the same price they had it at four months ago. I wonder how many other buyers made offers and then moved on?
Even in today’s market a home has to be priced right to sell.