[asphaltgambler]

In the Northern Va area - DC suburbs where I live I see sellers / RE agents overly optimistic about 2 things: Worth / pricing and abundance of sellers ready to buy. We're out of the market for now, looking to purchase next year. I see the majority of homes overpriced / overvalued and some within 30 days, sometimes less a price cut. I'm not an expert but as a buyer 2 things are red flags for me: Home is listed for 90 days (or more) and does not sell. So it's off the market for a week, re-listed at the same or slightly reduced price and still it sits. The other where the asking price is reduced in less than 3-4 weeks. This ***** is rampant here..............................


I don't think it's done. I see homes still being foreclosed on in the same neighborhoods where owners are overpricing their homes for sale. I see my local newspaper still listing a lot of foreclosed homes where the house is just starting to go through the process...........very unsettling