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If they sit for months, there are only a few possibilities.
The home is not properly maintained
The home has a character flaw that cannot be fixed (a lot issue would be an obvious one)
Or
The home is priced improperly.
Multiple offers happen when multiple buyers believe that a home is priced at or below its value.
You don't need to overcomplicate the situation. If you are truly in the market for a home (not just kicking tires and waiting for a house priced $50,000 too low to drop out of the sky and for nobody else to realize it) and you are watching homes get sold quickly at or above asking price, you need to take a look at your perception of the market. Sellers can ask whatever they want, using comps and good advice or throwing those out the window, but it's the buyers (or lack of them) who drive the market.
If a house listed for $300,000 sells for $320,000, its because the buyer was ready/willing/able to pay $320,000 for it. The seller may well have expected to only get $300,000 for the house, or even a bit less, but the market spoke. The inverse is true as well-if that house is listed for $300,000 and 90 days later there have been no offers, see the first paragraph above.
What about following scenario?
House is more than 50 days on the market, then you decide to put an offer and sellers agent comes back to you and says we have multiple offers and please give your best. Then does it mean the offers are at or above asking price? What do you think?
southdreamer, I don't understand why you keep coming to this forum with all these questions that you should be discussing with your buyer's agent. I've never seen someone take so long to buy a house -- seriously. Are you overanalyzing? Do you just not know what to buy?
Your agent knows the house, the neighborhood, and the area. He/she is getting paid to work on your behalf. Trust them. Make a decision, then pull the trigger.
southdreamer, I don't understand why you keep coming to this forum with all these questions that you should be discussing with your buyer's agent. I've never seen someone take so long to buy a house -- seriously. Are you overanalyzing? Do you just not know what to buy?
Your agent knows the house, the neighborhood, and the area. He/she is getting paid to work on your behalf. Trust them. Make a decision, then pull the trigger.
I trust my agent, but I like to get second opinions Maybe I am overanalyzing I have been looking for a house for 1.5-2 months , so do you think thats too long?
I trust my agent, but I like to get second opinions Maybe I am overanalyzing I have been looking for a house for 1.5-2 months , so do you think thats too long?
Have you ever seen the show "The Good Place"?
If so....you're straight-up Chidi'ing this process.
If not....it's on netflix and hulu and even if you don't like the show; you should watch a few episodes to get a sense of that reference and reflect.
House is more than 50 days on the market, then you decide to put an offer and sellers agent comes back to you and says we have multiple offers and please give your best. Then does it mean the offers are at or above asking price? What do you think?
I think you make an offer. If one of these magical offers is higher than yours, walk away. Set your price and either get the house or move on.
As was noted further up, don't over-complicate it. Your agent should be advising you on whether your offer is fair or not.
In my humble opinion, if you have to ask random people on the internet, then this isn't the house for you. You are literally paying your agent for his/her advice. Why would it be less relevant than some strangers?
I'm always confused by these types of questions, about "over-paying" for a house. A house is only worth what it can be quickly converted to cash for. No more, no less. If a house has multiple offers, and sells for $320k, it is "worth" $320k on that given day. That's not saying it won't be worth $340k or $300k in the following month. There are certainly opportunities where a house is worth $320k due to a horrible agent with a poor listing and photos or bad staging, that could be worth $340k tomorrow with better photos and staging. That doesn't mean you are buying a $340k house for $320k. Again, it's only worth what it can be quickly converted to cash.
It's just sticks and bricks, and shouldn't be an emotional decision.
If you have to ask strangers on the internet about a hypothetical house, than you have the wrong the Buyers Agent. If you aren't confident enough to rely on their advice, you need to find another one. How did you find this agent? How do you know they are the best qualified Agent for your situation? Hopefully, it's not one of the my friends brothers cousin sells real estate on the side referrals.
If they sit for months, there are only a few possibilities.
The home is not properly maintained
The home has a character flaw that cannot be fixed (a lot issue would be an obvious one)
Or
The home is priced improperly.
.
This isn't necessarily true. The high dollar home market (~$700,000 and up) typically has homes sell between 4-8 months, and up to a year is not uncommon. At least here in Durham. There is a tiny percentage of home buyers looking at $700,000+ versus the $200,000-$400,000 market. Probably for every 20 buyers only 1 buyer is looking at $700,000+.
This isn't necessarily true. The high dollar home market (~$700,000 and up) typically has homes sell between 4-8 months, and up to a year is not uncommon. At least here in Durham. There is a tiny percentage of home buyers looking at $700,000+ versus the $200,000-$400,000 market. Probably for every 20 buyers only 1 buyer is looking at $700,000+.
Very true. That said, in a situation where there are multiple offers I think we can all agree that it is more likely at the lower end of the market and with a home that was listed more recently. If the OP were looking for a $700K house they would not be facing the same challenges in terms of multiple offers and homes selling out from under them.
I trust my agent, but I like to get second opinions Maybe I am overanalyzing I have been looking for a house for 1.5-2 months , so do you think thats too long?
Honestly, it seems like longer than that. Maybe it's because you ask a lot of questions that seem to indicate you don't really know what you're doing wrt buying a house. Vague questions about "best" places to live, things your agent should be discussing with you, talk of putting offers ... you just seem like you're floundering. TRUST your agent.
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Maybe I am overanalyzing 
