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

To: John Vosilla who wrote (41126)	9/9/2005 8:19:29 PM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 306849

John, just an FYI, Long Island housing inventory on the MLS has hit the highest levels in at least 5 years if not more. My wife and I are scoping out a rental house but are also checking out houses to buy in Jericho/Syosset. A number of homes have been reduced one or two times (albeit from high levels, of course). The broker commented that things have slowed "significantly". Some people are selling because they are fearful of the bubble bursting and/or are greedy, some are flippers, and some people are in mildly stressful situations due to the usual things, i.e. got a job in another state, wife and kids have already moved, really wants to sell the home... Not making any predictions, just telling you what was told to me.