C’est depends. Bien sur. No, really, of course, it depends. If the seller’s asking price is:

  • above market value,
  • there is no competition,
  • you are not in love with the home,
  • you cannot afford the home,
  • your market has oodles of inventory,
  • or any of this combo,

Then, probably, yes, you are over-paying. If the asking price is:

  • Under or at today’s market value,
  • There are multiple, serious buyers,
  • Your market is competitive, without a lot of inventory,
  • You love the home and can envision living there for at least 3-5 years,
  • You can afford the necessary price,
  • or any of this combo,

Then, no, you are probably not paying too much. Context is all, remember? Dian Hymer, a former columnist for the Chronicle, has this to say on paying over the asking price. Read article here.

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