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If You’re a Buyer, Is Offering Asking Price Enough?

09/27/21  |  Stephanie Nash

Negotiate and agree on a revised price.



In today’s real estate market, buyers shouldn’t shop for a home with the expectation they’ll be able to negotiate a lower sales price. In a typical housing market, buyers try to determine how much less than the asking price they can offer and still get the home. From there, the buyer and seller typically negotiate and agree on a revised price somewhere in the middle.

Things Are Different Today


Today’s housing market is anything but normal. According to the National Association of Realtors (NAR), homes today are:
 
  • Receiving an average of  3.8 offers
  • Selling in just 17 days
Homes selling quickly and receiving multiple offers highlight how competitive the housing market is right now. This is due, in large part, to the low supply of homes for sale. Low supply and high demand mean homes often sell for more than the asking price. In some cases, they sell for a lot more. Selma Hepp, Deputy Chief Economist at CoreLogic, explains how these stats can impact buyers:

“The imbalance between robust demand and dismal availability of for-sale homes has led to continual bidding over asking prices, which reached record levels in recent months. Now, almost 6 in 10 homes listed are selling over the asking price.”

You May Need To Rethink How You Look at a Home’s Asking Price


What does that mean for you? If you’ve found your dream home, you need to be realistic about today’s housing market and how that impacts the offer you’ll make. Offering below or even at a home’s asking price may not cut it. In today’s market, the highest bidder often wins the home, much like at an auction.

Currently, the asking price is often the floor of the negotiation rather than the ceiling. If you really love a home, it may ultimately sell for more than the sellers are asking. That’s important to keep in mind as you work with your agent to craft an offer.

Understand An Appraisal Gap Can Happen


Because of today’s home price appreciation and the auction-like atmosphere in the selling process, appraisal gaps – the gap between the price of your contract and the appraisal for the house – are more frequent.

According to data from CoreLogic:

“Beginning in January 2020, nationally, 7% of purchase transactions had a contract price above the appraisal, but by May 2021, the frequency had increased to 19% of purchase transactions.”

When this happens, your lender won’t loan you more than the home’s appraised value, and the seller may ask you to make up the difference out of pocket. Buyers in today’s market need to be prepared for this possibility. Know your budget, know what you can afford, and work with a trusted advisor who can offer expert advice along the way.
 

Bottom Line


Bidding wars and today’s auction-like atmosphere mean buyers need to rethink how they look at the asking price of a home. Let’s connect so you have a trusted real estate professional who can advise you on the current market and help determine what the market value is on your dream home.
Stephanie Nash

Stephanie Nash

About The Author

For more than three decades, Stephanie Nash has been one of the Peninsula’s most trusted and proven real estate advisors, serving Woodside, Portola Valley, Atherton, Redwood City, Emerald Hills, San Carlos, Half Moon Bay, and the surrounding communities from Burlingame to Los Gatos.

Born and raised on the Peninsula, Stephanie brings true insider knowledge of the region; its micro-neighborhoods, school corridors, country-property enclaves, and the lifestyle features that make this area so coveted: sunny weather, an easygoing spirit, hiking trails, large-parcel retreats, ocean-view hillsides, and world-class food and culture.

A career built on experience, ethics, and results

Stephanie began her real estate career in 1987 working in local title companies before becoming the assistant to a top-producing agent. She earned her real estate license in 1991, and since then has built a reputation as a solutions-driven, ethical, and steady negotiator who guides clients through every complexity of a California transaction.

Her track record includes everything from luxury estates to rural acreage to trust and estate sales, including the successful sale of a 500-acre property, a transaction requiring extensive due diligence, jurisdictional navigation, and long-term strategy.

Nationally recognized performance

Stephanie has been recognized multiple times by RealTrends as one of the “Best Agents in America,” most recently in 2024; an honor reserved for the top tier of agents nationwide based on verified production.

Expert Witness in Real Estate Matters

In addition to client representation, Stephanie now serves as a retained Expert Witness in California real estate cases—including valuation disputes, fiduciary sales, marketing standards, agent performance, disclosure practices, and industry-standard care.

What clients rely on her for

Whether you are buying, selling, downsizing, expanding, or handling a trust/estate sale, Stephanie offers:

  • Deep regional expertise across multiple Peninsula micro-markets

  • Strong negotiation skills grounded in fairness, strategy, and consistent communication

  • Experience in complex transactions (trusts, estates, multiple-heir negotiations, title defects, rural land issues)

  • Compassionate guidance rooted in decades of hands-on client service

  • Unmatched availability and responsiveness

Clients praise her listening skills, honesty, and ability to navigate even the most emotional or complicated sale with clarity and professionalism.

A life built around community and care

Stephanie is deeply grateful for her family, her life on the Peninsula, and the meaningful relationships formed through her work. 

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Work With Stephanie

Stephanie respects residential real estate’s dual role as a personal investment and chief financial one. Whether you are buying or selling a home, it will likely be one of the largest financial decisions you make. Stephanie will be with you every step of the way to expertly guide you.

Let's Connect

Address

2930 Woodside Road
Woodside, CA 94062

CA DRE# 01104524

Stephanie Nash

(650) 995-3820

[email protected]

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