Most are aware the real estate market is shifting to the seller's favor. If you are trying to sell your Viera, Florida home you are probably thinking "It is about time!"
Over the past couple of months every buyer I have worked with has come up against the same thing - the property they were interested in was a target for several multiple offers. This is a good thing for sellers.... not as good for buyers.
What do these sellers know? They know that you can't price your home too low. They realize that an attractive price can bring multiple offers. Let the buyers "fight it out."
Still, in a market favoring sellers, there are those sellers who are not receiving multiple offers. There are many who are not receiving any offers. These are sellers who have obviously priced themselves out of the current competition.
Why do sellers price too high? Maybe the seller's agent recommended a listing price that was really above market (perhaps to just get the listing). Maybe the sellers were just too optimistic even though their agent recommended a lower price. Sometimes the sellers were testing the market.
In a market with a decreasing (or low inventory) and prices slowly climbing it is not unrealistic to price at or near the high end of the market.
There is a fine line between being competitive and being viewed as seller who is non-motivated and just fishing for a sucker!