People ask how is 'the market' out in the desert. It's like asking someone that's out of work (or maybe about to loose their job), as opposed to asking someone's that is job secure or well-off... it's relative. If you're in an area that has not been badly hit, you might not appreciate how far down bottom is.
Here's a property down the street (El Mirador) that was part of a local Street of Dreams Homeshow 10 years back. At the time of the show the builder was asking $3.5 million. It stayed on the market for a couple years, and eventually did sell for $3,225,000.
It's on the market again now (with a contingency offer) at a price of $950,000.
El Mirador
