I checked in w/ my realtor yesterday, to get the scoop on the market, and she told me that they’ve been telling sellers to lower their prices, but sellers don’t want to do so. They know what the last comp was, and believe they can get that too, and are willing to wait. Exceptions are motivated sellers, those who must sell for job move, divorce, whatever.
She said that those homes that sell are either listed for, or getting offers for, about $20K less than they would a few months ago. When I asked her for pricing, I figured out the reduction was about 2 – 5%. The other homes are not selling.
