Sellers in this market - out of touch?My wife and I have been looking in this so called "buyer's market" for a month now. There are a lot of properties on the market - and a lot of them have been on the market for 4, 6, 8 months - even almost a year.However, with the last 3-4 properties we've made offers on, the seller is barely willing to budge from their list price - despite comps showing the neighborhood is selling for significantly less..I guess that's another part of the problem; a good part of the comps we often find from our Realtor are from almost a year ago - and this area has had the biggest drop in the past six months.Part of me wonders if we're expecting too much, but on the other hand, if a house has been on the market for 120+ days, wouldn't that signify that the house is not priced right? We've been coming in at about 5% under list with our starting offers (in the 275k-300k range), but sellers invariably come back with a counter of $5k off list and won't budge. We even had one seller stay firm, and they've been on the market for 220 days!Another house was asking 299, but the comps showed all but one house (which was 300 sq ft larger and sold in December for 306k) in the 260-275 range. We offered 285. He wouldn't budge... Even though the seller's agent (weird) told us he has lost his job and is moving out of state! I know the problem though - he bought the place for $330+ in 2005. I don't see how that should affect me, though.We're well qualified, have nothing to sell, don't put any extra contingencies in our offer, and are not trying to lowball at like 10% under the asking price.. Is the "buyer's market", at least in Richmond VA, a myth?It certainly doesn't seem like it should be. Zillow shows 12,000 properties for sale in the West End / Chesterfield areas alone. What's the disconnect???April 16 2009 - Richmond00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.