[quote=deadzone]
Seriously bearishgurl what planet are you living on? Many of these non-distress sellers have had there properties on and off the market for the last 2 years or more hoping that somebody would pay their inflated asking price. Well guess what, the real estate market and economy as a whole are in the shitter. Loans are harder to get, foreclosures are rampant and unemployment is at 12% (in CA). Simply stated, there is less money avaialble. Maybe folks are finally realizing that prices are on their way down again and they want to get out while they still can (with a profit).[/quote]
If you’re a seller of such property in LJ (well above watter who don’t need to sell), would you sell at today’s price or try to sell for the next 10 years and see when you can get 1 buyer to pay the price you’re asking for? I know I would hang on to my asking price even if it takes me 10 years to find that buyer.