The neighbors would have a negative sentiment towards the owners who got foreclosed on but not the new owners.

Same thing goes for people who list their houses at the low end of the price range – neighbors get mad at the sellers but think the new buyers got a deal.

In reality, the only houses that sell now are the ones that are at the lower end of the range. People fail to realize that those new “low” comps are not flukes – they represent the true price that buyers are willing to pay at that particular time.