Monday, December 14, 2009
Newport Beach, Laguna Beach, CDM and Newport Coast Lead County in Price Reductions
John Lansner's blog has a good posting identifying the communities with the greatest price reductions on MLS. Newport Beach is number 1, with the greatest price reductions and Corona Del Mar, Laguna Beach and Newport Coast are all right up there. What does this mean? It means that real estate agents in these areas generally are listing properties at unrealistic asking prices. If no one shows up to pay the initial asking price, the market is forcing price reductions. Buyers should beware of asking prices given this hard data - the true value of these properties is likely to be far, far below the asking price.
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4 comments:
I agree with you, this is a trick played by many real estate agents. I like the link you have shared here in this post. Good to see the data and that they made the cut for around 25% in some of the properties.
Mr. Blue ... who ever you are .... just wanted to say your blog is fantastic! How can we convince you to post more???
Keep speaking the truth!
The previous post has been deleted. To the writer, feel free to drone on about stainless steel appliances like it was 2007, but please leave names of third parties out of the blog.
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