Today's real estate market is saturated, and there are plenty of homes in foreclosure. These statistics make the market one of the best for buyers in a long while.
Still, it's very possible for you to find a home that's over priced and be unsure how to handle the situation. Don't write off the home that's over priced. There are a few legitimate reasons that the price might be a bit high.
- The homeowner (and their realtor) has not kept up with the comparable sales in the market. Home prices have fallen very rapidly very quickly in some areas. If the seller and his or her realtor haven't kept pace, they may not realize that their price is out of the ballpark.
- The homeowner is under water on their mortgage. If the homeowner purchased the home