CAR: Refuse listings from unrealistic sellers

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We’re a few days late on this, but it’s worth a look: The California Assn. of Realtors is urging agents to refuse listings from sellers who ‘don’t need to sell or won’t lower their price to reflect declining values.’

From the Press-Enterprise: ‘’The best thing you as a real estate professional can do in this market is to encourage sellers who are not serious about selling their homes not to list. Don’t take a listing from someone on a hope,’ CAR chief economist Leslie Appleton-Young told a group of Inland mortgage brokers and agents in Rancho Cucamonga.

‘’The problem is there are no buyers,’ said Beverly Bayer, an appraiser from Moreno Valley. She said 59 homes had sold in Moreno Valley last month, out of 2,200 on the market, which means the market has roughly three years’ worth of inventory.’

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Photo Credit: Reuters