I dont think its laughable in the elast. I also dont think its a sellers market. It not a buyers market either. As I have been saying for a couple years now it is no ones market. It is a messed up market where every situation is unique.
Some sellers have swagger and can demand what they want. I saw a house in LC Oaks that was amazing turn down 2 to 3 offers a week until they got what they want which was a $300K premium for the lot and location. There is no way the house appraises anything close to sales price and the buyer was required to have no appraisal contingency and cash to cover it. My client offered a $250K premium and they laughed at him. They kept turning down offers and eventually they got what they wanted.
On the otherhand I pummeled a seller on a property last month and the appraisal came in 10% above the price my client was paying. It is truly all over the board.
