11 Anthony Place, Riverside, came on the market last June at $645,000 and immediately found a bidding war. It was reported as under contract six days later but the deal fell apart and the property was returned to the active list in July, this time priced at $655,000 which presumably was what that first "winner" of the bidding war had offered.
It makes sense that a seller would figure that if he had multiple bidders, and one of them was willing to pay a price above list, then someone else would, too. But often it doesn't work that way, and it didn't here: the house sold last week for $622,500.
I think that when buyers see a busted deal, they smell blood in the water and come in with a low bid. That's been my experience anyway, as a buyer's representative. My advice to sellers: if you have sweet deal, try your best to keep it together.