One thing I have been finding though, centric to Perth RE, is initial listing prices seem very high, with no real price drops rfelected in these prices. Over time they do go down though.
Are vendors trying to overprice knowing purchasers are going to lowball them anyway? A way they feel shields them from this - but removes a large chunk of buyers not comefortable with the lowballing process.
Or are they still thinking they can cheat the system and get good prices now before they go down.
As I found out in 2008 you can chase the market down a fair bit if you overprice to beginn with.
