From what I have seen, the cream of the crop, as long as it is priced in the 2004-2005 range is still selling. What has changed is that 1-2 years ago it would have been the smaller model houses on the worst, smallest and most noisy lots that sold at the premium price. Now, the junk just sits, while the motivated buyers pick off the primo properties at prices that may be at or even slightly above the mean/median of a year ago. Thus, the stats don’t reflect the reality for the 90% of homes that are not the best in neighborhood and have dropped in value 5-15%, if they’d sell at all now.
Don’t know if I am making sense, but this is what I think is going on….
(also, I actually looked at the house profiled above. Its nice enough, but that back neighbor just stares right down at you. No thanks for 3/4 mill and probably $12k a year in taxes. They also have kind of wierd floorplans.)
