In this strong buyer's market one wonders if the list price on a property means anything. It is a little like when you are strolling on the beach in Mexico. You come upon this guy selling bracelets and he tells you how much the piece costs. You really like it but feel the price is wrong. You look further down the beach and see another guy selling things and decide to check him out. You stroll up to him and see that his prices are lower but still not low enough. You offer less and he says no. A guy walks past with a board of almost the same bracelets on it with a lower price posted. You start talking to him and offer him less. He says no to your offer. You decide to keep walking. You don't really need the bracelet and will only buy it if you feel you got a deal. The sun starts setting and a vendor stops you and says he does not want to carry his stuff home. Do you want to buy his bracelet for cheap? You settle on a price and walk home satisfied you got the bracelet on your terms.
This is what our real estate market is like. The sellers are not real motivated and the buyers will only buy on their terms. They don't care what a house is listed at, they think it is worth less. It could be priced right, but they feel they have a right to get it for less. The seller who sells his house is the one who sees the sun setting and just does not want to carry it any longer. He agrees to a lesser price, but he got his place sold.
I read feedback from the showings of my listings and every buyer want the house for less and wants better condition, more sq ft., needs another bath, and would like something replaced. Since the buyer is a treasured item in ties market, the showing agent does not tell them they are wrong, but rather he drives them to the next house. If he keeps driving to enough houses, he will find the seller who is motivated to sell and the match will be made.
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