Buyers dictate value. Let's think about that. I disagree. He who holds the gold dictates the value. If by chance you live in Detroit I may agree, but if you have a nice place in paradise how are you going to have someone tell you what you have is worth less than what you think. If its yours then in order for some else to get it they must :nono1: pay your asking price not theirs. In the example that you gave yes many bought above there means but if you think them dropping there price is some how going to effect the market positively I for one strongly disagree.
If that is so, why is it that some gold holders are not able to sell their property? Some gold-holders even offer to sell below what the gold holder's appraiser's value. Remember, a profit isn't made until the property is sold, so for a seller to say that my property is worth this, means nothing. Now perhaps that seller can justify and educate the buyer as to why he or she feels the value is x, but the buyer is the one who has to agree. If the buyer says, "I don't think so," the seller's profit is zero. I can think of one case when the seller dictates the value, and that is when the property is scarce and there are willing and able buyers hoping to purchase at the price being asked. If you have the only property listed in a desirable neighborhood, and you can afford to pay the mortgage, you can stick to your guns. One other thing to remember is that unless your buyer is paying cash, the property has to appraise, so the sky is not always the limit, even in cases of scarcity.
