What to bid on a house that’s been off and on the market for 10 years?

[Hm Dige]

First of all, we understand prices in Colorado have been rising way more rapidly than other parts of the country. Some people are getting list price even though asking 40-60% over last year. We are interested in a well located home that has been on the market for 10 years.  Sometime in the past 3 years, the owner hired an overpriced interior designer who “remuddled” the home. It is so very taste specific that there aren’t many people who could live with the decor. Not only is the current owner asking for a 300% price increase over what they asked in 2019, but they have included in the new asking price the cost of the garish furnishings they want to sell with the home.  We would need to undo everything recently done and don’t want the furniture. Would it be fair to offer the price the owner was asking before this most recent unfortunate remodel?  It was fairly priced then. 

[James Carlson]

@Hm Dige

There's fair, and there's what the seller will accept. And the Venn diagram of those two doesn't always overlap. 

The big oversized red flag here is that the seller has been trying to sell for 10 years. That means they got through 2020/2021, quite possibly the biggest seller's market in a generation and couldn't get what they wanted?? It's the understatement of the year to say they're not motivated sellers. 

Without more details it's hard to offer concrete advice. Where in Denver is it? How'd you come across it? You say it "was fairly priced" three years ago. What makes you say that?