Here’s a good story for you –
Found a house in Poway back in October, (mls 066089425) 1798 sq. ft, 5,000 lot, backed up to a busy street, but built in ’96 and was a nice house. Asking price had a range of 579-609. Our first offer was 580k. House had been on the market about 2 weeks when we made this offer. Seller’s decided perhaps they priced their home too low and countered our offer at 630k. Needless to say, we laughed and withdrew.
As an update, supposedly their house is still listed, but they have a deal in the works where they’ve accepted one offer at a price they’re happy with, but the seller’s agent doesn’t think its even going to make escrow b/c there’s a contingiency that the potential buyer’s must sell their home first and they’re also asking too much for their home so it’s likely not to sell.