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“A Home Is Worth What Someone Will Pay For It”

It occurred to me today that we heard this saying from sellers constantly over the past 3 years, when home prices were doubling and nearly the entire US was a seller's market.

Have you noticed how quiet those sellers are now? While real estate markets are local, many places in the country are turning into buyer's markets, and sellers are starting to figure that out. They've stopped saying “a home is worth what someone will pay for it”, because most buyers are no longer willing to pay delusional prices.

Many of my friends and family, myself included, have been in good positions to buy homes for some time now, but we're simply so fed up with the current market, we refuse to even entertain the idea of buying anytime soon.

Is anyone else having this experience as well? Curious to hear your thoughts/observations.

submitted by /u/SisuSisuEveryday
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source https://www.reddit.com/r/RealEstate/comments/1lswxae/a_home_is_worth_what_someone_will_pay_for_it/
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