Not sure what you mean by  sub-par homes... we have a strong seller's market but people are not buying for the sake of buying and expect value for the money they spend.

Yes, and some of them are even selling.  Go figure!

Jeff not only are they hitting the market at higher prices but buyers are buying them... Endre

Not an issue here in Tallahassee.

yes - I think that people are trying to sell the dogs now 

I have seen some examples over the years.   Reality matters.

While our overall market still favors sellers with multiple offers and sales over list price still occurring, we are also seeing some increased inventory, longer days on the market and price changes(and often after a very short time).   It comes down to neighborhoods and certain price points

Jeff Dowler - there will always be someone who will try to take the advantage of the 'hot market'!

Once they realize it the home can't sell at that price, they either go with right price or get back into the home!

Not in Erie, PA

There was a big shift in the Metro Atlanta market. It did cover for the previous drought. But once it reached where we are right now, it kind of slowed. Sellers are still asking for too much, but we see a lot of price reduction going on.

Jeff,

We saw a lot that in Napa...we are not seeing that here.  A

There are always sub-par homes trying to sneak in amoung the sellers that take the time to make their house ready for the market. As prices increase, the sellers decide to do less & less work. 

Your buyers will start to balk now at the condition just watch.

There are a lot of $500,000 + houses with evident listing longevity, that are clearly the result of 'INSPIRED' pricing.

The PROM QUEEN, as always sells fast.

Be aware, within a real estate market their will exist, simultaneously a buyer, seller and balanced market. The  400K+ segment is shifting towards the direction of a buyers market as inventory continues to grow. Meanwhile the 350K (-) is still a strong sellers market.

Scarcity is driving this

Jeff, our market in Oklahoma City is pretty balanced so not so much.

Our market has not been crazy like so many other areas, but with all the buzz about a sellers market it stands to reason that subpar homes would be selling, or at least getting listed.

The market is still very hot in my area.  It remains to be seen how the new mortgage rules will affect it.

We aren't see that in my area. But we haven't had the craziness that other markets have experienced with homes selling for way over asking price after many offers. 

Yes, some are selling and others getting relisted with new agents.

Many sellers think they can over price and get it because of the market.

Yes and over 75% lower their price at least once

 I haven't found this to be true at this point ....

Homes are being listed above market value and we are seeing many more price reductions.  Prices continue to rise but list prices exceed the market value in many cases.

You mean the homes that want full market value with no upgrades. Yes

Alas Jeff, we are still in a buyers' market.

if a home is a fix and flip and it's too much money, builders won't touch it...or they'll make an offer at the number that works....

All the time. 

YES!  Dumps being priced at or just under retail, instead of where they should be priced.

In our market, sellers have been dictating price. However, no reasonable buyer will overpay for any property. Sellers who want to sell must set a price which will attract buyers - and appraise!

Yes.

That's not really new here

There have been quite a few, and buyers seem ignorant to it. A nail in a board sells just like before '08.

Yes to your question...got a questionable one around the corner and they have lowered the pricing plus did some work to try to capture a result. On high prices, we may be at peak. I advise caution

No more than usual.

Not really seeing this as a Seller's Market anymore down here Jeff, it's more a level playing field in that 50% of sellers are reducing prices and sitting 30-60 days while the other half are still experiencing multiple offers. So, it depends on the Micro-market and property type as to who's in control. Buyers are getting good at sweating the sellers down in price by simply taking their time with offers.

Seeing a few tired condos needing work at prices that are more appropriate for remodelled units. Not sure if it is just a test!

It does seem there are pricing errors and many price decreases before the sale.

That happened, but I also ee many lowering their prices when they finallly figure out buyers and buyers agents aren't stupid. I've had several agents from listings I showed 3 months ago, now calling me back to see if my buyer is still interested.

They hit the market, but in higher price points have been sitting and doing massive price cuts. The homes I am watching just continue to drop prices.

The trend here is that undeisred areas or homes needing work in good areas are now declining in price. Homes in good areas and good condition are still on the rise

no

Overall - stable