If it was your house, and you wanted to sell, would you list it at $400k, since you don’t wear rose colored glasses?

Nope, I would look at other listings in the immediate neighborhood and undercut them by $100,000. That is IF I needed to sell. If I didn’t NEED to sell, I wouldn’t even bother listing it in this market. If you check the DOMs on ZipRealty (I check everyday 😉 most homes are just languishing on the market. The competition between sellers is WAY TOO FIERCE to be so passive, list high and “try” to see if you can get that price! Not going to work!

A friend had an open house in Lake Forest the other day, the guy is cheaper than the cheapest listing in that area by $25,000 and still NOBODY, not one soul showed up to see his home, and it’s a beautiful 3bd home too 😉

It’s become a different market overnight and requires a different way of thinking, that is all I’m saying with my point about the dellusional seller 🙂