I'm starting to see a lot of the overpriced listings from last summer coming back to the market. Problem is, the prices are still just as unlikely to result in a sale. It looks like the "I'm not going to give it away" crowd are coming back to the market. In the last few weeks I've been watching as more and more of these listings come back. That's probably what's driving housing trackers median listing price to stabilize or even rise slightly while the sales data still shows the prices declining.
Anyone remember this clown? He's asking $930k for his house when nearby REOs are selling in the mid to high $300s. At least he's not asking 1.4 million anymore!
Or how about the fake grass house? Yes, it's back. Another total nutjob asking three times what he should be asking. This genius actually raised his asking price by $50K. Same crappy pictures as last year.
Oh yea, hope springs eternal....