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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (38340)	8/17/2005 5:47:07 PM
From: Tradelite	Read Replies (2) \| Respond to of 306849

Yes, we are definitely in a softening phase. I can see this with my own eyes. The price range and area I'm tracking is one that I drive thru regularly every week. I'm seeing more homes for sale, and definitely more staying for sale. When I check the computer listings of the houses I've been tracking during August, I can see that many of these houses are turning over real fast and others turn up in my search time and time again. I recognize the houses from their photos. Also seeing one other thing that signals a bad turn in the market---monster-sized houses being put up by no-name builders on the crummiest remaining empty or infill lots in town, without having buyers for those homes. Until the last few months, no house in my own subdivision lasted more than a few days. We did have one quick sale this month of a home right behind mine, which was correctly priced by the seller and listing agent.......but we also have one down the street that was bought by a speculator (probably a small-time builder) who did some fix-up and has been sitting there with an empty house for sale at way too high a price for what he's offering. He's getting his just reward for screwing up. <<gg>> He will sell that house if he reduces the price by 400K. Bet no one's telling him that--or he's not listening.