When I go on a listing appointment and I am explaining the value of property, people often tell me that they want to list their property at “x” value.  Many times the price they want is way above the market, but they reply “find me a buyer who does not care about money.” 

I’ve been looking for that buyer for 29 years.  I’m sure there is a buyer out there who does not care about money, but I have not found one.

I was in Aspen, Colorado recently and was talking to a Realtor concerning the real estate market.  Aspen’s market has some of the top values anywhere, but there market is very slow.  I told my Realtor friend that I did not think the top end of the market would not be hurt by this economy.  They laughed and said that all ends of their market was hurting. 

People think that people with money will buy when they want to buy.  I often think that people who have money have gotten this money by being astute and not wasting money.

It is important to realize that in a slow real estate market, everyone is affected - top end, low end – everything is relative.