What the heck

Just talked to a desi realtor in CA area who said they have a group who actively lies to the prospective buyers that CA properties are getting bid up and going over asking. They primarily target desi renter communities and play on their FOMO. They also target IT folks who they consider RE investors. It’s the easiest to trick them because they come with the desi mindset that prices always go up. Apparently this is an entire group of people “trying to bid up prices to save their jobs”. In reality he said most open houses are seeing 1/4 the traffic when compared to early this year. Offers are dwindling. He also talked about not updating MLS with the sale price, so it does not show up on Zillow. Zillow apparently pulls from MLS. It is still there on the county records, but nobody goes there and looks. I am surprised I tell you.