[quote=eavesdropper]But I am curious about one thing that’s been discussed in this thread: Denial. Is it as strong in your neck of the woods as it is here (documented for posterity on “Real Estate Intervention”)? Time and time again, I meet people who readily acknowledge the severity of the real estate crisis, but, somehow, feel that their home is different, and that they’ll have no problem charging, and getting, significantly more money for it. Is denial still as prevalent in SoCal as it is here, or are most sellers finally getting the message (before the “message” comes from their mortgage lender)?[/quote]
Seller is asking $942k and has been listed for 70 days. It’s a nice house with a nice view of San Clemente Canyon (and presumably Mt. Soledad). But with that view of San Clemente Canyon – you get noise from freeway 52. I know, I have a canyon view that is a bit further up the hill from the freeway… We hear the freeway. That will dissuade some buyers.
Recently the same model, same block, but in crap condition, went pending for $690k in less than a month. I’m guessing it will go for around $650k. Again, I’d say $300k will buy a lot of fixing up.
Denial lives large.
To quote Jim the Realtor – there’s nothing price won’t fix.
