You’ve heard of Supply & Demand. For the last several years, there has been low Real Estate inventory in the area. At times, Buyers have been in a frenzy to “get there first”, to bid over asking price. Some Realtors even list prices below fair market value to initiate this frenzy and get the highest and best price for their Seller. Is this Fair? Is this Honest? It depends on what side of the transaction you are on. A good agent will always do a Comparative Market Analysis (CMA) to determine whether “The Price Is Right”. Sounds like a game show, but in essence, as a Buyer, do you want to overpay for a home that will only appraise for so much? As the Seller, do you want to undervalue for a bidding war? What happens if no one is interested? Fair then becomes Fair. The Market will always dictate the sales price and the Appraiser will always go by data (of course unless its’s a cash sale & then yipee for you!) Why not be realistic then. Priced right, a home will sell in 30 days. I have sold homes in 1 day not because the home was under valued but because, as luck would have it, the right buyer walked through the door first. Whether Buying or Selling, find a REALTOR that goes by market data. In the end, you’ll than me : )