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stop_bailouts wrote:
I'm not seeing anything in my price range right now. There are new houses being listed, but almost all of them are at fantasy prices, as though the past year never took place. As much as $100/s.f. higher than market rate. Anyone else having a similar experience? Are sellers losing their minds again?

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Actually they are coming back to reality.  Those of you who keep spouting that there was a real estate bubble have it all wrong.  There was a real estate dip that has occured over the last 2 years. Things are going back to normal prices.  Sellers have been watching the news and know that there has been a change in the market.  For those of you who missed the dip over the summer I feel for you.  But rates are still low and now is the time to buy before we go back up another %20 next year.

I agree Stop Bailouts.  I am looking on the westside.  Right now, almost all of the listings are "zombies".  They are priced well above the market and have been listed forever, but their owners do not have the financial health to reduce them to a price at which they will sell.

yeah lots of sellers are convincing themselves to believe what socal_n1_agent is spouting.  they think we just hit a regular periodic dip in the market, and things will be back to their 'norm' in a year or two.  they are either waiting it out to list, listing at too high, or they are trying to rent.

they are delusional.  its a patience game at this point.

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BobWhole wrote:
get used to these prices. Either move or get a better paying job if you want a nice place.

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I think you missed my point. They are priced above market value. Even if one were to assume that the recent small gains in prices is going to be permanent, and that the market is headed back up, new listings are priced far, far above even that. Prices haven't suddenly jumped $100/s.f.; this is completely unrealistic. These overpriced places won't sell for those prices - better get used to that.

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SoCal_No1_Agent wrote:

 

Actually they are coming back to reality.  Those of you who keep spouting that there was a real estate bubble have it all wrong.  There was a real estate dip that has occured over the last 2 years. Things are going back to normal prices.  Sellers have been watching the news and know that there has been a change in the market.  For those of you who missed the dip over the summer I feel for you.  But rates are still low and now is the time to buy before we go back up another %20 next year.

 

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Sigh... They same old propaganda from the same old camp.

 

We all know that realtors gotta sell to make a living - no matter what. That's why I won't ever hear from a realtor "Honestly, now is a bad time to buy - wait for a couple of years and you are likely going to be able to afford more for your money".

 

At the end, they will always be biased towards their own interest. Sell, sell, sell! Quick buck no matter what! The buyer who?