qwerty – I rode around Chelsea. Great area. But for sure in today’s market, too much.
Seems like anything priced below the normal high peak generates a lot of interest and people start foaming at the mouth and falling over each other to get it as if it will be the last deal out there.
That, to me, is the biggest sign that we are no where near bottom. When I sold my house in Carmel Valley we were beginning the bubble. I did not get multiple offers. It was nice. Not a McMansion, but you still couldn’t buy it today for anything reasonable.
When the frenzy of multiple bids stop, you know you’re at bottom. JMO. That may mean bottom and it’s flat for a while.
Many of the overpriced homes are languishing and if they really want and/or need to sell, eventually they will reduce.
