MalibuRenter_IHB
New member
They aren't buying much, especially at the high end.
Here's my shocking statistic from Malibu. August (last month with data available, cyberhomes), 3 sales. A more typical August is 40. Most years there are 250-320 home sales. This year, maybe 80, and most of that was in the first half of the year.
It's not going to be pretty. I am considering making offers far below list, at the prices I believe things will sell at mid 2009. The average Malibu home will sell for about 1/3 off of its initial list price, if it sells at all.
Here's my shocking statistic from Malibu. August (last month with data available, cyberhomes), 3 sales. A more typical August is 40. Most years there are 250-320 home sales. This year, maybe 80, and most of that was in the first half of the year.
It's not going to be pretty. I am considering making offers far below list, at the prices I believe things will sell at mid 2009. The average Malibu home will sell for about 1/3 off of its initial list price, if it sells at all.
