From my experience, homes sell quickly as long as it was priced well from Day 1. So from what I have seen home owners are not cutting prices across the board in order to sell. Most likely sellers that over-priced a property and didn't review the comparables will need to adjust their price if necessary.
I have 2 clients looking and making offers on condo's and homes in Long Beach. So far we have been out bid on all our offers. Seller's we've dealt with aren't cutting prices nor have I seen buyer's fleeing inland. To us it seems to be just the opposite
Bankers Realty Exclusive, Inc