I am thinking about a recent transaction. A property listed at $475,000 received showing after showing. The front door had to be replaced with a turnstile to limit the occupancy at any one time. It went on like this for almost 90 days and no offers. Then the price adjusts to $450,000 and 3 offers in a matter of days. Wow.
What I am pondering is why were there not any previous offers? What is it about the number $25,000? Anyone could have started at$450,000 a long time ago. Were the potential buyers being too nice? What is the definition of a low ball offer? How low is too low? Maybe the value was not clear.
What is the ball park range to describe a good value?
A list price Below the tax record?
A good Zestimate or eAppraisal? Would those things have encouraged an offer?
Maybe it is just good old fashioned Karma. Things happen when the are supposed to happen.
I would say if you are a buyer, make your offer now. Negotiations have to start somewhere.