Mortgage Blog

I am watching the RE market recently. And
one interesting phenomena is that some houses
listed much higher than the market. And it
follows the market "lower".

Here is an example, one house listed 1.05M in
May, 2010; Then lowered to 985k on 06/04/10;
again 910k on 09/09/10; and 885k on 01/20/11.
The seller hoped to find someone silly enough
to purchase a property with much higher than
the market price. And they lowered the target
again when the market is lower. What if the
above property listed 900k at the beginning?
It might have been sold.

We have similar stories for the market.
Often I have some prospects asked for 
the rae quotes, and they found the rate lower
than their loan originators; and then
the loan originators want to "match" my 
rate.

My question is: why they can not just quote
the best rate at the beginning?It make them
looks bad when "matching" the rate.