Harriet, sorry about the comment issue. I'm not sure I understand what was going on inside the cold computer brain.

I think it should be working OK now...at least it lets me comment on my own stuff.

Merv, Thanks for looking into the comment issue. I think I forgot to punch in the "security code", but when I pushed "submit" the message went into the ether. I will be more careful, and I'm certainly sorry for the trouble!

Thanks also for the update on Loudoun. I live in Fauquier County, and we are interested in either buying here or in Culpeper County. I was wondering if you or your readers felt that months of inventory had any significance in our decision to buy at current prices. According to MRIS statistics, it appears that for January there were 640 active listings in Culpeper County, and only 19 sold. That's 33 months of inventory, I think (although I am not an expert on these types of tabulations).

Also, in the 500K+ price range in Fauquier, there are 300 properties on the market and 15 sold, which is about 20 months of inventory there.

Fairfax, Loudoun, and Prince William all seem to be faring better than these outer-lying counties. (in order of months of inventory).

Also, a tidbit of something I noticed here. In a nice subdivision here in Warrenton, two identical homes are listed at a 100K difference. (One at 539,900, and one at 639,900). The county assesses them at only a 10K difference. The more expensive one is owned by a couple who purchased it for 585K in 2004.

The above anecdote is a thought about your "stick in the eye" comment. It must be tough to be a seller right now, and my sympathies are truly with them. At the same time, as a buyer, I'm a bit paranoid about overpaying. We are a one-income (for now) couple with three kids, and the thought of being underwater by 100K is not a fun thought, because in the past we've been able to feel more comfortable about our net worth. (We sold our house in 2005 and are renting). So on the buying end I want to be careful. But I'm not an unwilling buyer. I'd just want to offer 500K for the 539K house, and I wouldn't touch the 639K house with a ten-foot pole, not to mention a stick in the eye of the seller.

Todd, thanks for your insights. It was not so much my reaction as it was my clients. The "we are not going to show your house unless you will accept X" approach caused a natural "go look somewhere else" response. A reasonable approach may have resulted in a reasonable response and a transaction. The unreasonable approach produced the emotional response and no potential transaction.

Never mind the buyers for a moment. The contest is among the sellers right now in my opinion. Coming up with a good price that is reflective of the current market for successful sales is the thing.

I don't blame the buyers for having some demands on the front side of of the process right now, but if my listing is priced right for the current market my seller and I would respond the exact same way as you did.

I still see way too many listings on the market with a bad offering price and when I'm representing a buyer client, I'd likely be making demands on the seller from the get go... but those demands would be reflective of the successful sales market.

Hi JP, thanks for your comment. I agree, its just business. But, buying and selling real estate is most often an emotional process for both the seller and buyer. My point is: If approached in a more reasonable, less demanding way, we might have produced a win-win transaction. This approach did not. Business does not have to be brutal to achieve the desired result.

I’m not sure why this offer was a “sharp stick in the eye.” Many sellers do sell below their advertised price, and some impatient sellers sell FAR below the advertised price. An offer is just an offer. Take the one you like and discard the others. Its just business. Why take it personally?

I think we'll see more of this as I expect the market will continue to slow (due to a variety of factors) and the supply continue to increase. That would mean that the power would shift to the qualified buyer, and those would-be sellers who remember the heady days of 2002-2005 would need to reorient themselves.

The technique of the agent may have been blunt but I think the general concept (see who is highly motivated/desperate before investing time looking) will become common, and there will be increasing numbers of motivated sellers. So from the buyers/buyers perspective, no worries that your seller was put off -- they weren't looking for your kind of seller.