Who Is To Blame For Overpriced Homes? You.

So says Roboblogger Jeff Duffey, who apparently doesn’t sleep, as this was posted after 4 a.m. this morning. His point is that the market sets the price, but too many stubborn sellers refuse to listen, demanding their agents get them a certain amount for the home so they can “make X dollars” on the sale. I have some experience in this. When I sold my house earlier this year, I wanted to price it 10 percent less than I did. (Again, I have a sixth sense about acceptable sales prices. Trust me.) I let my agent (a great agent, btw) talk me into trusting the comps for the neighborhood, which seemed over-priced to me and perhaps skewed by some new construction. The home sat for four months. The day I dropped it 10 percent, I got a full-price offer from a couple that had toured it weeks earlier. If I’d trusted my market sense at first, I wouldn’t have made nearly six months of mortgage payments on it while living in my new place. (Still hurty in my pocketbook.)