If my sale goes through (scheduled to close 1/18) I will take a $30 reduction on my condo in North Orange County but I believe I am walking away with a good amount to put down on a new home if I stand by the wayside and wait. I believe this will be a long wait too for the prices to slide. Too many buyers simply refuse to lower their prices to what the market will bear at this moment. I have several friends to have had their home on the market and they are (in my opinion), chasing the dollars down.
