Yes I do... buyers typically don't want to miss out on a perfect home for them over a few thousand dollars. Also, you never know how negotiable a seller might be, especially one who has been on market for a while. I do the same at the low end... I'd look at homes priced from $190K. One thing I've found over that past several years with rising home prices and lack of inventory is that just about every one of my buyers ended up spending somewhat more than they thought they would have to at the start of the process.

This begins a conversation. It is based on reality.

Yes. There may be nice houses with long days on market that are ripe for a price reduction.

Why not?  Negotiation is the name of the game

yes! just had this discussion with a seller deciding on list price

I find most folks who look past their means are dreaming of putting in a lowball offer.

It depends, but probably. There us some negotiating going on. But that price range here yields very little.

Paul S. Henderson, REALTOR®,CRS, Yes, I would look up-to $310,000.

If there is just absolutely nothing under $300K, I'll sneak a peek up to $310K. Right now, there's a lot of that going on in that price range!

Over $400K, it's far easier to find homes within their budget.

Yes. And in an area where the list/sale ratio may be more deal-friendly, maybe even a little bit higher. Also, price ranges are flexible and if a buyer found something that was absolutely perfect at 320, and they're qualified, send it. They can always overlook it if it doesn't work.

  If they have the money or the preapproval for $310K, yes.

I will look above the stated price points. I can't say I will send them all of those homes, because I do not want them getting new to the market homes they will not or can not buy. I may ask if the right "cream puff" came up $10,000-15,000 above their max would they want to view & purchase it. If they say yes, then I will bump up my max price limit for them.

I would go up to at least $330,000 and even $350,000 so I can know what would be available should they figure out that they can afford more and don't like what is available in below 300K.  I would probe to see their interest level and ability to pay.

The search will depend upon their ability to purchase in the price range.

I think that is a good idea.

If they are approved for up to 300 I would show in the 310 range.

Why not?

I would follow up with other questions to learn more, such as time frame, financing, areas and for my market, when was the last time you were in Santa Fe. In our low inventory market, price often reduces what is possible if the customer is just beginning to look.

Yes, and there are a lot of homes in my area in that price range. 

Yes. I would search $350,000.00 or less. There is always a chance properties that have been on market for a while are ready to drop price. And there's also a chance that a house that will work is listed at $195,000.00

We look up $200,000 to $300,000.  If we can't find anything in that price point, we ask if we can expand the search and move up, but it still has to fall within the price the buyer is willing (or capable) of paying.

Depends.

Yes.  I do search a few over just in case they are willing to come down.

Yes, I'd take a look at a little over what they consider their "high" end.  I maybe able to see one that we could get for under the $300K with a little negotiations.  

I'll have conversation to make sure that the price range they tell me is realistic for what they are looking to buy, then go from there.

La La La La La .... 

LAND 

Seriously, it does depend on many factors ... knowing my clients and intimate knowledge of the market. It generally will not harm to modify search criteria and see what else is out there.

Yes, I do, especially if they are pre-approved above $300k.

Absolutely. I love calling it LaLa Land. With so any searches done on Zillow by consumers,  pricing in the right “search band” can have a dramatic impact on exposure. 

When a client says they want to look up to $300,000 the reality is they need to look up to $250,000. Given the multiple offer environment here, they will still spend $300,000 to get the house that was listed at $250,000 if they want to be successful.

It is tough to be a buyer in the S. F. Bay Area.

that's a huge range.... I'd narrow that my 50k

It does not matter what THEY want to look in, it matters what price they can afford an dhow much mortgage they can get

In a tight well priced market probably not. Then again, maybe if I was looking at an over priced listing I'd give it a shot!

Depends.

If the buyer has revealed their strategy is to offer 80% of market value or $210,000 (their actual budget) I will not push the upper limits.

However, if I know the quality of real estate they seek can not be found  in their 'la-la' criteria, I will inject, for convenience purposes of course, property more likely to appeal to their needs.

Besides, in a low inventory market, it means you need to cast a larger net just of have something on the show list.

Yes, I would.  Might be a great opportunity to catch that seller who says "if they like it, they should submit an offer" vs the seller who appropriately priced their house. 

Paul for $300k all I can offer is land or a lease, so it depends and I always suggest to look higher is OK so just incase they have some mad money they forgot to tell me....Endre

Absolutely, and sometimes even a bit higher.  I also warn them that anything at or over the cap that is new, will be unlikely to come down right away, but that older inventory well over may be ripe for the picking. 

It depends.

On occasion, I will even look a little higher.

I don't call it anything - just include it & let the buyer decide. What if the right price is $307 based on the comps?  That's the price then right?

Yes of course and there are some great answers here from savy agants. The budget for some is set in stone, but for some it is a guideline based on Lender qualifications. $325-$350,000 homes with long Days on Market could be ready to reduce their price to sell now. That could benefit the Buyers in some markets.

In a slow market I would

I try not to, the $300K home could get offers to $325K, pricing this buyer out of this price point.

Paul ~ Yes, I would go a little above their stated price range for a couple of reasons.  Prices are negotiable so we may be able to get that higher priced home with some favorable terms to the seller other than price.  The other reason is to show them that sometimes going up in price $10K - $25K may provide for a much better home; extra bedroom, backyard, or better schools.

Paul S. Henderson, REALTOR®,CRS, no doubt about it.

I generally go $25k over

I look in the parameters of what the client tells me.   Unless there is not enough to look at then I will start looking at 325,000