I agree in the two-tier pricing going on. Some sellers have got the message and others haven’t. As an example, there is a seller of a 3500sf house in Rancho Dorado in San Marcos. Original selling price back in the spring was 975K to 1.05M, despite that fact that comparable listings in the neighborhood were selling for roughly 850K. After twice weekly open houses and five months on the market he has dropped his asking price to 799K.
I suspect that over time more and more sellers that are unrealistic will have to come back to reality provided that they: 1. have to sell; 2. unless the find a clueless buyer that has no idea what’s going on out there.
