In this volatile and capricious market full of vicissitude, it’s difficult to fulfill a seller’s pricing wishes. I have not seen a seller pleased with an offer in years, have you?
Perhaps a shift in paradigm is in order: any seller who is moving up, should be delighted with this market. Yes, he will lose money in the sale of his home, but he'll more than make up for it in the next home.
For example: Say that we are dealing with a 30% de-valuation, which is certainly not out of line, for I've seen them as high as 84%. Anyway, in using this de-valuation example, if you are selling a home that normally would garner $300,000 and you are losing 30% on it, getting a mere $210,000 for it, you've just lost $90,000.
Using the same 30% de-valuation rule, since you are now buying another home in the same market, you purchase a home that normally sold for $600,000 for only $420,000, thus making $180,000.
You just made $180,000, having just lost $90,000, so in the end, you are now richer by $90,000! Why do people fail to see this incredible opportunity for the move-up buyers?