patrick.net

Hey, I'm part of that traffic but am not a real buyer. I just go check out the neighbours houses and eat the free cookies. Always nice to mess with the realtors by asking them how much over the asking price I should start with my first bid. ;) They respond like they smoked too much weed and someone just showed up with a plate of brownies. None of them recommend to me to go at or below the asking price. However, the places sometimes sit there for months. How is that for good advice to a prospective non-buyer.

In fairness the last two places I saw actually went pending the day after the open house. Lots of new debt slaves being created, hope it is enough to keep our economy from derailing too hard.

donjumpsuit says

We have a special game we play when we see realty signs in our neighbohood.
It's the "how fast does it go pending game". Usually I win with less than a
week.

We do this, too. There have been two houses in our neighborhood (Hancock Park) in LA listed at $789k and $799k. I bet they would go at least 6 weeks. Well, 6 weeks later, house A was taken off the market, and house B was reduced from $799 to $795k, no pendings after 50 days.

OTOH, houses at the $600k level that are complete shit holes go pending within a week of listing, even in the ghetto.