It won’t be too hard to tell if the seller has over priced the house once you are ready to submit your offer. One can only sell his house for the price that the buyers are willing to pay for in the certain area. This is why the agent’s home appraisal is mainly based on the prices of properties recently sold. If they fix up the property it can raise the price, but the reasonable price is still to be seek for when buying the house. Overpriced properties can stay for sale for too long, and they might even never get sold.
You should check the list of recently sold houses. You can get the lists of real estate properties sold through your real estate agent easily.
You should also determine the lowest, mid and the highest selling price. Then consider the condition of those sold and compare it to the condition of a house you are interested in. Notice the roof, the paint, the flooring, the year it was built in and compare everything. The price listed for a house that you are interested in is not it’s definite value, but the prices of the properties already sold that are most similar to the one you are trying to negotiate for, are the best estimate of the price your should offer in your final offer for it.
People who put a lot of work in their properties will list the house for a higher price. Just that alone is not the reason to pay too much for the house you will be buying. If you want to put down an offer also provide the listings of the houses sold for comparison and as a source of the amount you came up with. This will give them a reason to be more down to earth about the price of their real estate property for sale.
Since other sellers can also be over pricing their homes for sale, looking at the active listings for orientation can be misleading, actually. But this can help you to understand the demand, on the other hand. The more houses that are being active for sale on the market, the lower will the prices be, thus the less chance for a sale of a over priced one. You can also watch the listings to see how long the houses within a certain price range stay on the market before they are finally sold. This also helps you determine the offer you will be willing to come up with.