Thanks for the update, zovall.
The market has been strange here over the past few months. Homes in our price range ($500k and under) that are in very good/move in condition get MO's, and are regularly bid up (eh...yeah, like I'm going to get into a bidding war...f'that). Inventory is a low of ~3 months, if nothing else comes onto the market.
Over $500k, say, $600k and above, has a 1.2 year supply, and is moving very slow, regardless of condition and location, even the coveted beach area. Upper end prices have dropped rather dramatically....but that doesn't mean a home that sold ~3 years ago for $2M is now down to $400k. Wish it was true.
Interestingly enough, there are several very nice, move-in condition homes, in damn good locations that have been sitting. Their prices are high (based on what I've seen, about ~$60-$70k too high), and people realize it.
We're simply in a holding pattern - we <strong>really</strong> love where we live (~1 block from the beach, have great neighbors, great landlord), are paying down what little debt we have (just paid off the wife's car, down to a single car payment now), watching the market(s) closely, and keeping money in the bank. Our REA knows exactly how I feel, as I've made it abundantly clear to him - damn near ALL REA's are full of shit, and the "bottom" is not in when we still have double digit unemployment, and continuing RE/bank/stock market problems.