“Do you feel that the avg. buyer is educated enough to see these numbers and not start to get a bit itchy?”
Personally I don’t think that really matters. If the avg buyer is getting itchy but the homes in the area they are looking for are still too high then the banks are not going to give that buyer the money to pay for that property. It looks to me that the banks are…..Finally…..unloading these properties at the bottom of the market. Remember this time last year when this segment of the market was frozen and the only thing moving was the high end albeit much less than the year before. It drove the median price up and drove all of us Piggingtons crazy. Well prices in that segment of the market have fallen enough where we see a nice little uptick in sales. Now the median is plunging. Same thing will happen in each segment of the market including…..Yes…Carmel Valley. This year is the first time I am feeling a faint hint of relief that this is truly unwinding.
