Yes I would classify the 91913, 14, and 15 areas in the exact same manner as you have posted. Well overpriced, little to no activity at current pricing, or at previous pricing, exceedingly high foreclosure rate and has been that way for a few months, and a base of buyers that are not the most well qualified people to begin with… and of course way way way overbuilt.
I would agree with your premise that dropping the prices in the amounts you spoke of would be the best way for them to sell. How many sellers will actually heed that advice is another question but I totally agree with your thought process on that entire area…
