Are These Homes Bargains or Just Fairly Priced?

Zip found that many home sellers are slashing prices by as much as 60% off what they originally hoped to get. The implication, it seems, is that these are “deals.”

But the other implication is that home sellers are coming to grips with their unrealistic expectations and just want to sell their home. “The only way to sell a home in this environment is to drop the price,” says John Burns, a housing consultant based in Irvine, Calif., in this WSJ story today on the stalled housing market.