Admin

Spam prevention
Ambassador
1,472,185
Susan Emo
Kingston, ON
Kingston and the 1000 Islands Area

I've found that pricing is more opinion than fact.  There is always a Buyer for every property.

Apr 13, 2016 11:58 PM
Rainmaker
582,156
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

It depends how long the seller wants to wait.

Apr 13, 2016 11:26 PM
Rainmaker
2,230,207
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Yes, when the price comes down to the appropriate level.

Apr 13, 2016 11:11 PM
Rainmaker
5,774,100
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Peter,

Eventually, it does.  A

Apr 13, 2016 10:09 PM
Rainmaker
1,395,083
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

It will sell, but it won't sell above its value. Buyers are savvy and sellers who pretend that buyers are stupid are left being the highest bidder on their own house until they catch a clue. 

Apr 14, 2016 09:31 AM
Rainmaker
676,311
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

Rare to find a fool with cash. If it sits on the market for prices to catch up or there are price reductions to get it sold, it is no longer overpriced when it eventually sells.

Apr 14, 2016 02:43 AM
Rainmaker
2,849,659
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

A product that doesn't take itself serious gets no respect. A mixed message is confusing in this business. High price? I want to sell but I don't want to sell?

Apr 14, 2016 12:05 AM
Rainer
56,734
LeAnn Sink - Realtor Knoxville, TN
United Real Estate Solutions - Knoxville, TN
#ThinkSink when you need an agent.

Yes. Seen it happen. 

BUT, it most likely won't be sold by you because the sellers will think it's your fault when it doesn't sell and by the time it gets to the 3rd agent, WHAM. It sells.  Murphy's law.

Apr 13, 2016 11:25 PM
Rainmaker
1,752,137
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Rarely, but the purchase of a home is emotional and sometimes, emotion is 80% versus 20% logic.

Apr 13, 2016 10:33 PM
Rainmaker
5,118,818
Richard Weeks
Dallas, TX
REALTOR®, Broker

Possible.  A fool is born every day.

Apr 13, 2016 10:18 PM
Rainmaker
846,575
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Yes, I have that experience all the time. People with cash will pay more for exactly what they want!

Apr 13, 2016 10:15 PM
Rainmaker
874,080
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Rarely

Apr 13, 2016 10:11 PM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

If the seller actually wants to sell, it will sell. There are many things that may precede the sale.

I would add overpriced succeeds as often as a dirt-ball offer gets accepted.....and the show goes on.

Apr 13, 2016 10:11 PM
Rainmaker
152,917
Chrissi Chapman Topoleski
Coldwell Banker Realty - Woodbridge, VA
Helping agents live an exceptional life!

I'm always surprised, but sometimes they do!

Apr 13, 2016 10:10 PM
Rainmaker
4,740,581
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

I've been surprised.  More than once.  

Apr 13, 2016 10:09 PM
Rainmaker
6,008,034
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

In Denver if the property is under $400K, it most likely will, and get thousands over appraised value!  

Apr 16, 2016 10:30 AM
Rainmaker
5,280,568
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Eventually! I agree with Susan Emo "There is always a Buyer for every property!"

Apr 15, 2016 11:44 PM
Rainmaker
2,538,789
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Peter. Yes, even an overpriced property will find a buyer, but if a mortgage is needed, the appraisal could be a problem.

Apr 14, 2016 10:08 PM
Ambassador
3,763,935
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

I'm noticing that a lot of places that I think are overpriced fly off the shelf with bid ups.

Apr 14, 2016 03:34 PM
Rainmaker
736,632
Sharon Kowitz
CRS-SRES-ABR-GRI-E-Pro-CREN ~ COMPASS RE - Cary, NC
Cary, NC Relocation Specialist ~ Buying or Selling

In our market right now, yes! We are in high demand with little supply!

Apr 14, 2016 01:18 PM
Ambassador
6,691,506
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Yes, I have sold a few.

Apr 14, 2016 01:12 PM
Rainmaker
3,986,473
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Oh Yes...I have seen it often and NOW it is happening all the time

Apr 14, 2016 11:52 AM
Rainmaker
1,539,044
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Yes.  I've sold a few that were "the highest price/sqft" in the area.  They had other features that justified the price (lot, view, etc.).

Apr 14, 2016 09:37 AM
Rainmaker
5,584,639
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

in OUR marketplace they ARE selling.... some are not appraising but some are....very bad sign....

Apr 14, 2016 07:46 AM
Rainer
7,655
Thomas Bauch
Florida Made Real - Parkland, FL
International investors - Residential & Commercial

There will always be a buyer, which will buy any property 

Besides using all marketing tools available and making sure, you get your word out the best way possible, you need to be very patient

Meaning,  you need to take time out of the equation, to avoid that pressure and anxiety push buyers away 

 

 

Apr 14, 2016 06:59 AM
Rainmaker
789,854
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Always, if the seller is motivated and makes the right adjustment.

Apr 14, 2016 06:52 AM
Ambassador
3,213,829
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

in 2006 we sold hundreds of them.  People waiving appraisals left and right.  And other when eventually the market catches up the price.

Apr 14, 2016 05:43 AM
Rainmaker
1,157,841
FN LN
Toronto, ON

Whether a property is overpriced is in the eyes of the buyer.

Apr 14, 2016 05:23 AM
Rainmaker
290,969
Allie Angeloni
Long Realty - Oro Valley, AZ

Yes, though as others have said, you will have the price reductions and it will be over a period of time Peter Mohylsky.  Sellers that bought 'high' are not happy to be selling at today's comparable prices even though they see the numbers . . .  it's emotional . . . 

Apr 14, 2016 02:20 AM
Rainmaker
1,466,257
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Peter Mohylsky An overpriced property will eventually sell. It just depends on how long the seller wants to wait for the price to catch up with the market. However, chasing the market rarely works.

Apr 14, 2016 01:45 AM
Ambassador
2,326,785
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Eventualy... as the market rises, or the price drops.  

Apr 14, 2016 12:39 AM
Rainmaker
3,074,389
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Coldwell Banker Realty

What Eric Kodner said...by which time it's no longer overpriced!

Apr 14, 2016 12:13 AM
Rainmaker
8,155,096
Roy Kelley
Retired - Gaithersburg, MD

Wait long enough and it may no longer be over priced.

Apr 13, 2016 10:46 PM
Rainmaker
1,513,143
Raymond E. Camp
Ontario, NY

Eventually a contract will be written to be accepted; that is of course if it does not expire first.

Apr 13, 2016 10:22 PM
Rainmaker
5,487,220
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Not quickly for sure!

Apr 13, 2016 10:13 PM