Testing an Unrealistic Seller
It seems to be happening a lot in today’s housing market: Buyers find something they like, but — based on the Comp’s — the Seller’s 
price appears to be high.
What to do?
One option is to simply wait.
Overpriced listings have a way of coming down to earth, and Buyers who can afford to be patient can often pick up the property at a (much) better price once the Seller has become more realistic.
Testing an Unrealistic Seller
Of course, Buyers who wait risk that the Seller will in fact accept a lower price — today — from another Buyer.
Which is why I typically counsel my clients to go ahead and make an offer on a home they really like.
In my experience, the only way to really find out a Seller’s bottom line is to present them with an actual, written offer (vs. a hypothetical, “would you take $x for your home?”).
Too, it’s often the case that unrealistic Sellers know they’re being unrealistic.
So, the showings are few and far between; there are no second showings; and the feedback (if the Seller receives any) is scathing.
For all those reasons, a Buyer interested in such a home may in fact find a receptive Seller.
P.S.: It’s not a lowball offer if the home is overpriced.
