In a recent ‘first tuesday‘ article about the “American Dream” ft wrote: “California’s response to the relationship between homeownership and the health of a community differed from national results, which is not surprising since the state has been hit much worse by the housing crisis than the rest of the country. Seventy-seven percent of Californians report their homes have decreased in value (fact: all have decreased), compared to the 41% nationwide, and 40% say their homes are underwater, compared to the 18% nationwide.”
Only 77% think it true. I wonder where the 23% live that have not had a housing value decrease?
That thinking (the 23% that is) is more prevalent than you might guess. There are still sellers out there that have an over-inflated sense of their house’s value.
If you come across one of them – send that seller to a real estate agent down the street. Don’t waste your time. And since you only have so much time on this planet, make sure you spend it on clients that are ready to sell – and ready to buy. (The flip side of the unrealistic seller, is the buyer looking to pick up the bargain of the century – rather than just the bargain of the decade. Send that buyer down the street too.)