[misterbwong]

This is absurd but not quite as absurd as the headline makes it out to be.

FTA:

Over-asking sales are at least partly the result of agents’ sleight of hand. It’s become common strategy to list homes under their market value in order to entice Silicon Valley buyers; they are all too willing to fight over the few houses available in this chronically tight market [...] Given prices to the north, spending less than $2.5 million for a house in Sunnyvale on a large lot — about 13,000 square feet — “wasn’t a wrong move,” Kalkat said.