More a LTIDU than a LTIH (Little thing I don't understand)
So 15 years ago I worked in Real Estate and you went to a house and settled on an asking price lets say $679,000 (this becomes relevant soon) - People would look and offer whatever lets say $650,000 and negotiate from there.
Our neighbors are currently selling there house and it is listed at Offers Above $679,000 (see the relevance now) so in my mind that would be the bare minimum price they would accept - Nope! not how that works their first offer was $700,000 and they said we will take $710,000 but the buyer cant get to that figure - After the open house on the weekend they now have an offer om Saturday of $745,000 and their agent is telling them to sit on it until Tuesday as he is expecting more offers.
So how are you supposed to know what is in your budget if they are fielding offers almost $100,000 above asking price.
Also yeah market up here is crazy they bought for $320,000 4 years ago and have done pretty much nothing and in less than a week of listing will have sold for $750,000 ish
I mean its good news for us our house is bigger and we are thinking of selling very soon too - but yeah seems crazy to just put random price on you have no hope of buying it for