How would you like a nice house in San Diego County on 2.75 acres with views for $299,000? Sound impossible? It's not.
I drove out there today, and the house looks like it's in good condition. Ramona is a cute, ruralish horse town in northeastern San Diego County, between the Wild Animal Park and the mountain tourist stop of Julian. It is a little too far to commute to most of the employment centers in San Diego (45 minutes to an hour), but it's certainly not BFE.
The house sold for $178,500 in 1994, and $390,000 in 2003. A geometric interpolation puts the current asking price equal to mid-2000. And it's been listed at this price for three months. That's going to hurt the chances of the numerous places like this one, where people are still holding out for 2003 prices.
If you're trying to sell a less-than-unique property in this environment, you had better be the price leader. Do what Jim the Realtor says and cut your price 5% every two weeks until you get some action.