Guys we have had plenty of posts about mortgage frauds and about the inherent unreliability of the median price indicator. It is inherently misleading due to its LACK of information.
I pulled a sold listing in POWAY that went for 75k ABOVE list price and posted about that not long ago. So a home that should have sold for 75k less did not.
Do you think the median price indicator for Murrieta or Temecula is reliable in light of all that fraud?
What about seller credits back to the buyer? Those are not accounted for in the sold price which is then used for the median calculation.
What about the extreme ends of the spectrum. Say there are a few homes that are very very very high end and sell for several million. While they do not represent the true Poway median, they will tilt that median.
At the very least try to give at least some though to yoy sales.
