As a general rule, people in the southern states (excluding Florida) do not easily get caught up with the hype that prevailed with the run-up in prices in CA. They are much more skeptical than the average Californian and not as prone to sell their home & move up the property ladder every few years. It’s a different mindset. I was born & reared in South Carolina but moved to San Diego for 30 years. When we moved back to SC a couple of years ago, it didn’t take long before I was reminded of the differences between the two cultures. I have a lot of relatives and old friends here that I had not seen in many years and I have discovered that 95%+ of them are still living in the same homes that they were living in when I left 30 years ago. It has nothing to do with money: it’s a matter of not trying to keep up with the Jones’.
If a local R.E. agent attempted to get people involved in a bidding war on a home, they would be met with the biggest ho-hum they had ever encountered and all the interested parties would be likely to just walk away, leaving the seller with no offers.
