We hear how low ball offers insult sellers. I think your response is a great way to communicate that the sellers are insulting the buyer. Just repeat the price in astonishment, turn and walk out. I wish I heard more of these stories.
On a side note, I heard George Chamberlain on the radio today. He just wrapped up a discussion on how some personal investment guru/vulture based in a Wells Fargo branch put a 70 year old guy into a variable annuity for 5 years. I thought George was going to cry about the injustice he had just heard. Following that heart-felt discussion, he had some guy named Mayron (sp?) on the last 15 minuets of his show pouring on the propaganda. They were talking about all this pent-up demand and how were were probably near bottom of the price decline. The recent inventory decline data was given to justify their point. They said at this rate in 6-7 months we will be at normal inventory levels. The financing problem was addressed with the FHA loan. I can only guess that George and Mayron have some deal together because neither of these guys had an independent thought. They based there discussion on what seemed to be the NAR talking points.
