The realtors are starting get it, even if the public hasn’t yet. I went to a couple of open houses and talked to two of the realtors. I was pretty upfront about how I thought the market was going down in the next few years. While they did not outwardly say they agreed with me, they did not make any attempt to deny it. Both seemed somewhat resigned about the whole thing.
As an interesting side note, one realtor told me about a house that she has in escrow where she admitted (in a round about way) that she had priced the property almost 25% over what she thought it would sell for. She was surprised that it sold for 20% less than the asking price.
