Open house report
Well, nothing much out there today. I saw one new listing whose listing agent was asking for price opinions. I suspect I added no cheer by suggesting a price cut of $225,000 off its $1.995 price but hey - he asked; and he won't listen anyway, so no harm no foul.

But there's a problem with these over-priced listings that affects all of us: a friend tells of showing a house yesterday that had been marked down a full million dollars from its two million plus original price. Instead of seeing a bargain, his potential buyer was scared off, reasoning that if a house could "lose" a million dollars in value one week, what was to prevent it from losing another million next week?

What's being exposed in the present market is the unreality of pricing in this town. I know that sounds "too discouraging" for some of you readers, but when Back Country mansions start whacking $3-4 million from their asking price, over night, buyers can be forgiven if they conclude that there's no real substance behind some of these prices.

So they're waiting things out.