Don't worry, be happy!
A reader has posted the following comment:

Chris - one would hope that someone in the real estate industry (such as yourself), would at least try to promote an optimistic point of view. It's in the best interest of all of us, including the buyers.

I'd be happy to oblige, if only someone would point out something to be optimistic about. Sales are down 38%, values are dropping, buyers are sitting on the sideline, what can I say? Are there glimpses of cheer? Sure - there's a house sale pending in the eastern part of town due to close in a few weeks at $8 million plus that should blow the socks off any recent comparable sale on its street. When it does, you'll hear about it here. But otherwise, I'm pretty much stuck reporting on how things are, and things ain't rosy. I try to point out bargains when I spot them, and I've mentioned several times that there are bargains available but I'm not interested in painting a false picture of a healthy market, regardless of how that might serve sellers or even this particular realtor. There are a couple of other columnists in town who seem to have a brighter outlook so if you're looking for happy news, check their papers.
Of course, if I were a buyer who over-paid because of a supposed expert's opinion that things were looking up I'd be pretty ticked when things turned out otherwise.