Buyers set Market Value...NOT Realtors!

Buyers set Market Value..NOT Realtors!  This must be hard to believe for many, many would be Buyers.  That is my experience at the moment.  It seems that no matter the List price, and no matter if it's being set by the Seller, a bank or through a Short Sale..Buyers insist on offering less!

I understand this tactic, and in some areas or developments, it may still work..especially when making an offer on a property that is listed by a Seller and there have been REO's and SS's in that same development.  BUT..when it's already a Short Sale or REO and the facts of the CLOSED comps support the list price/sf, you will lose that property!

If Losing it, isn't important, and you feel you can keep looking and making lowball offers, by all means continue.  If you want to live in that neighborhood, in that area of the Coachella Valley, then step up to the plate and put in a solid offer because there are other Buyers for that home. 

I know what the financial wizards are saying..prices may drop another 10 % or more..nationwide.  What does that have to do with your local market???  NOTHING!  My desert area market prices in certain desireable developments in certain desireable areas has not moved down..in fact, it has moved slightly up. 

Study those Closed Comps.  Walk every comparable property, and do not sit on your offer!  It seems that my Buyers right now, have to lose their first and second and sometimes third choice to accept this..