[quote=CA renter]If a house sits on the market for months or years, we shouldn’t be looking at the list price as a benchmark[/quote]
But your average buyers are, so, the lucky buyer didn’t compete w/ the market. So, it can’t possibly be “market price”.
[quote=CA renter]Smart buyers know where the values are, and they should certainly know that list prices are just that — what the sellers hope to get for their homes. It has nothing to do with market price — past, or present.[/quote]
I would say even smarter buyers would get to know the listing agents and get in on great deals before they have to compete with the “market”. The extra smart buyer don’t compete with the market. The semi smart buyer compete w/ other semi smart buyers who don’t compete with the rest of the market by going straight to the LA and hoping the LA is shady enough to push through your low ball offer while he/she get to pocket both end of the fees. The rest of the buyers are actually buying at the market price.
[quote=CA renter]While everyone here knows how much I hate shady deals that seek to exclude other buyers, I’ve seen plenty of deals where someone had the intelligence and wherewithal to make offers well below list price…and they’ve managed to get the house. I don’t begrudge these people, I applaud them. There is nothing wrong with offering what the buyers feels is a fair price, as long as all buyers are able to make those same low offers, and they should get the house if they present the best offer.[/quote]
Again, you make the assumption that all buyers are aware they could make low ball offers. There’s so many things going on behind closed doors with deals where LA play both side that you can’t possibly think it’s all fair. To me, it’s like pot calling kettle black.
