In two out of my most recent three closings, my buyer clients bought at a fantastic price --- below appraised value. 

Scenario #1 --- buyers offered a quick closing, with no home sale contingency, and paid $13,000 under the appraised value.

Scenario #2 --- buyers bought from a relocation company, and paid $10,000 under the appraised value.

Why is it happening?  In both cases, the buyers made aggressive offers --- instead of opting not to make an offer based on a higher than reasonable asking price. 

As I noted a few weeks ago, buyers currently seem to be hesitating to make offers, and sellers are hesitating to lower their prices.  For the buyer who is willing to negotiate, this means there are opportunities to buy at great prices!