House hunting? It's not a buyer's market everywhere

Perhaps not so relevant... The parents been looking for a house in fredricksburg, VA for several months. Prices run about 10-15% cheaper than original asking price. The realiter stated to us since the banks own most the property the houses are not really moving. There is some sort of bidding system in place.... the brokers' contracts have such a long period of time, 6+ months, that they just sit on the houses waiting for a high bid to come across. There is also a housing colilation that buys up the really cheap houses and holds and mantains them to prevent nieghborhood degradation.

Sent using my phone on lunch, so forgive the shotty post quaility
 
Quote from Dr. Zhivodka:

http://www.latimes.com/classified/realestate/news/la-fi-cover3-2009may03,0,7623052.story


"Every open house I've been to has been a zoo," said Rivero, who has examined 35 properties during the last three months. "If you follow what the [general] media say, you'd think sellers are desperate to sell a house, but when you get there it's totally the opposite."

Real estate brokers and investors say would-be buyers misunderstand how the drop in housing prices has affected desirable neighborhoods. Just because an abandoned house in a troubled part of San Bernardino County might be going for $200,000, it doesn't mean you can get a nice place in Sherman Oaks for that amount -- or even twice that amount.
More...

Or even 3 times that amount.
Desirable areas of Socal havent been hit hard.
Prices still too high.
People have too much money and job security and there is no real overbuilding here.
Go to Reseda if you want a 400k house but that's about it.
 
Those drunk on Nevada, are you guys aware of the Yuka Mountain depository? This is where the feds are going to store all nuclear waste from the US. ALL being the operative word here. I do not care how much you like the scenery, glowing in the dark is not my idea of fun!
 
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