Reminds of this girl I know who moved to the bay area back in 01. House for sale for $575k(1100 sq ft fixer upper.. aluminum wiring), she bid $625k and was out bit by $75k. She said I should move there.. fuck no.
Aluminum wiring is not an issue provided it is pigtailed with copper.
Yeah, it's crazy. Maybe I don't understand the market or whatever, but I can guarantee you I will never offer someone more than what they're asking for a house. Not gonna happen.
Umm all due respect but you might need a coach. Real estate price is a strategy not a price. Value is what you should be concerned with. I list homes lower than what I think they will fetch. Homes are listed for sale. Buyers always make the first offer. If I was to list and sell your home and it was worth less than $800k to $1 million, In today's market, I would want to coach you into listing it at a price lower than what I think it will go for. Sellers can reject ANY offer provided it is not based upon protected classes like religion, race, sexual orientation, etc.
Let me put it another way. If you are looking for a brand new GX F and you see 5 of them priced at or around $85,000 and I have one with the same features for $65,000. Which one would you have the most interest in getting? Although cars are a bit different since they ARE offered for sale - not listed to solicit an offer.
Comps and your personal value should bring you to the price you are willing to pay not a somewhat arbitrary price someone places on a listing.
Overpriced listings can be a opportunity. An exhausting opportunity. I say that because typically overpriced listings are listed by weak agents that have not done a good job in explaining how the market works. Most of the time, Sellers of over priced listings are unrealistic. Sometimes you can get them to budge since they rarely get offers. I tell clients, we can put in a realistic offer and then forget it unless they come back.
I tell clients, we can list high and sell other listings or we can list slightly lower and sell yours for more than we list it at - and many times much more than what it is worth. What would you like to do.
I can say that I have not sold any homes below our listing price for many years - and all have sold at or above the appraised price.
BTW - This post is meant for entertainment purposes only and is not intended as legitimate real estate advice.