Do you recall my post regarding the Chevy Chase Canyon home?

MLS Stats
3&3, 1866 sq ft, 9610 lot, year built: 1936
Asking, $1,083,000, expired after 214 days on the market
Purchased 6/23/06 $1,095,000

Not surprisingly the home did not sell and the listing has expired.  This is the problem when showing property to potential clients, so much of our listing inventory is similar to the home above.  The market has dropped, listings such as this just inflate the inventory, short sales are MLS pollution and further inflate the inventory.  When showing property there is so much for a Realtor to weed through.  Realistically priced homes are difficult to find, and that is why they continue to sell quickly at or over asking price.

And for home buyers searching Los Angeles listings on the Internet, it is just as frustrating to weed through all of the overpriced listings that aren't going to sell, because either the owner is underwater or unrealistic regarding the reality of the Los Angeles housing market.