Stale listings are bad for sellers. Should have priced it right from the onset. High end homes are a different breed and can be priced high until potential buyer comes along. Normal homes in the 300K range need to be priced correctly from the begining. Listing low to get bidding war is not always a good idea either. You get a lot of low ball bids and usually the higher bids fall out of escrow due to over bidding during the frenzy. Level heads take over and house fall out of escrow.
