Sellers, their agents suggest one-two punch

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Submitted by Ex-SD on June 5, 2008 - 6:26am

Link: http://www.sfgate.com/cgi-bin/article.cg...

From the article:
"Unlike the stock market, where a big fall is often followed by a quick rebound, home prices recover slowly, Thornberg said. "Prices hit bottom and stay there for some time," he said. "Housing markets aren't very liquid and they don't recover quickly from the psychological damage done to home owners."

"Ken Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at UC Berkeley, echoed Thornberg's sentiments about the role that psychology plays in the housing market."

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What seems interesting to me
Submitted by XBoxBoy on June 5, 2008 - 9:15am.

What seems interesting to me is that agents are starting to get it. If you want to make a sale (and a commission) you better price the property aggressively. Now if the agents in La Jolla would just come to this simple realization. (One can always hope can't they?)

XBoxBoy