The Cool House: Bucking a trend

Wednesday, June 25, 2008

Bucking a trend

Meanwhile back in crazy town.........
Yesterday I reported that the Case-Shiller index was tracking falling home prices across the country.
Today I open my in box to discover this house is on the market at $1,650,000. That's surprising because only five days ago it went on the market for $1,575,000. You can still see the old price on zillow.
This is a phenomenon I noted earlier in the month and I'd really like to know is it just confined to the Incorporated Village of Bizarro or does it happen elsewhere across the nation? If it's the latter how does it affect the Case-Shiller index? Are we bucking a trend or starting a new one?

1 comment:

Charlie said...

That's really amazing! How embarassing is that? People must be hurting tremendously, probably sitting on a house they bought for way too much. Of course the culprits have to be the realtors(sorry but they are the pros). I mean when we put our houses up for sale we depend on them for help with pricing. The next step is people sueing ex-realtors for not advising them properly when they bought a house that was way too overpriced. I am so glad we sold our houses in Seattle and Atlanta when we did!