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I’ve been house hunting for the last 8 months and have come across a few nice properties that, compared to less prime houses on the market, are priced lower and are much more attractive. I’ve also lost out in a bidding war for one of these houses that ended up selling for about $500K over asking (way before the current credit crunch). Is there a real pricing strategy at play when a house is listed at a more “reasonable” price compared to others? Do brokers always anticipate, and get, a bidding war that substantially drives up the price of the house? I’m just trying to better learn what to anticipate.