TG, my experiences are completely different. I am seeing new listings come on the market with 2005 bubble prices. I am seeing sellers in denial and many basic tract homes priced above $200 per square foot. I was actually going to post a thread to get everyones opinions.

Take Crown Hill, which is way over valued. Most of the homes in there are still over $500k and many are nearly $700k. I am shocked, these homes have been on the market for months. What do the sellers think is going to happen?

From what I’ve seen, the desirable Bank owned homes that are priced well get MANY(I’ve seen about 5 properties that have had at least 20 offers) offers, and usually sell within 3 days of being on the market. I can only assume that all of the buyers are competing for these drastically reduced homes, while the clowns selling their McMansions for $650k will be victims of 2009.