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When I read stories like the family's above, I feel sorry and embarrassed for them at the same time. I feel sorry that they've been getting outbid each time, but I also think that they should have modified their expectations much, much sooner, particularly because they have a special needs child. If they're working with an agent, they should have access to listings before they hit MLS and they should have access to sales data so they can figure out where the hot spots and soft spots in the market are.
On another note, considering the constant media attention, I doubt the summer inventory is going to increase because people who were thinking about selling their home are probably scared shitless because they'll never get into something else at a price they can comfortably afford.
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