THE OWNERS OF APARTMENT IN THE SALE OF REAL ESTATE ARE OFTEN OVERSTATE THE STARTING VALUE OF THEIR OBJECTS
If you ask the real estate market experts about how price expectations of sellers of real estate related to its real market value, they noted that the past few years, inflated price expectations prevalent in 90% of the owners. Apartment owners may inflate the starting price on your property up to 50% of the fair market value of the property, and the owners of the houses - in a few times.
Currently, 80% of sellers property not aware of the situation in the market and as a result, have an inflated price expectations. calculated to maximize the value. In this case, they don't consider that the property market falls, and in the end get less.
Currently, two types of overstating the starting price found in the real estate market. First - unreasonably high starting value of the property owners in the 20-30% when the price mechanism is not clear. Second - overstating the starting value of the property at 5-10% in order to determine the real price of "empirically" - when the object is put up for sale at a slightly inflated price, and the seller within 1-2 weeks watching the demand for it, then the value is adjusted.
In the present situation on the market in the segments expensive and the average cost of real estate is often necessary to significantly reduce the price of the property even in cases where the starting price was not too high.