[Rick Lee]

We looked at a house a few mos. ago that was intentionally way underpriced. It would have easily been a $1.5 million house where I used to live. Perfect condition, 3500 sq./ft., infinity pool with fountain, all Jenn Air appliances, just an amazing place. Asking price was $300k. Obviously, that was just a starting point for the bidding war. I don't know what it went for, but I'm sure it was no less than 30% over asking, which was still a smoking deal.

If you were a seller, would you rather have your asking price get nothing or maybe just lowball offers? Or have it get bid up way over? Around here a lowball (as my wife learned the hard way) gets ignored.