Nope those kinds of folks buy trophy homes and many of these are not 1st homes. They buy what they want when they want. They dont typically pay delusional prices but some do. They dont look a few miles away as they already have great homes. If they want a prime beach house that is all they look at. If they dont buy they can always rent one.
Of course there are buyers on a lower tier that would love to move up to a prime DM property if they could. The topic home on this thread is a perfect example. A price about 10 to 20% below market attracted tons of folks wanting to move up, 24 to be exact, and these folks put a floor under the market. Of course, the market fgures things out and it sold for 10 to 20% above the lsit price.
