Sellers can be very unrealistic about price. There are several problems with this, some obvious, others not so obvious. For the most part, the reason for this is what is called the endowment effect. Behavioral economics studies find that humans tend to overvalue their possessions compared with the value the market will actually bear for those possessions. It's important for home sellers to remember that...
October 2012
September surged forward with Carmel and Pebble Beach real estate both increasing in sales activity. Carmel Highlands real estate stayed about level with August, and Carmel Valley real estate more than doubled it's production from the previous month. This year has really been one for the books. 2011 was marked by stubborn sellers, rigid buyers and 6 month escrows that loved to fall out right before closing...