As a Los Angeles Realtor, my real estate web site produces inquiries from all over the country.  This is my most recent inquiry:

I am a Broker in Tucson AZ.  One of my clients lives in La Canada and is pre-approved for $300,000 and looking for a foreclosure in your surrounding areas.  I talked with her yesterday and she talked to a few Realtors in the area and looked at homes but is very unhappy with their service.  I would like to see if you can be of some assistance Please reply back to this email if you are interested in this prospect.  Thank You.

Jxx Cxxx
xxxxx Realty

I phoned the Realtor to ask what purchase price?  Answer: Possibly as high as $350,000, I explained that the reason that his La Canada client is unhappy with the Realtors she spoke or met with is because she is not in tune with area prices.

This “buyer” wants to spend $300,000 – or perhaps stretch to $350,000 when the average selling price of homes sold in La Canada, in August was $1.7m (as per MLS stats).  We are Realtors and not magicians, we can’t pull it out of the hat! Now if the potential buyer wants to look in outlying areas, she can find a home (not a mansion), for $300,000 - $350,000.

I don’t know what prices will be tomorrow, I do know that if you are buying a home today, you are paying today’s price.  If you want tomorrow’s price, you have to buy tomorrow.  But remember even if tomorrow’s price is better –how high will interest rates be?