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

To: Giordano Bruno who wrote (123950)	5/19/2008 1:52:17 PM
From: Jim McMannis	Respond to of 306849

Deluxe vacant-home tour: Executives are the newest squatters reuters.com The following blog post is from an independent writer and is not connected with Reuters News. The opinions and views expressed herein are those of the author and are not endorsed by Reuters.com. Sure, it's no secret that the Twin Cities metro area is suffering from a serious glut of homes for sale, most of which are seeing a price drop of 10 percent this year. But did you know that, according to the most recent research from the Minneapolis Area Association of Realtors, there's a 15.9-month supply of homes worth more than $500,000 just sitting alone and gathering dust? That's nearly twice the 8.7-month supply of those in the median-home-price range of $190,000-$200,000. And did you know that homes worth more than a million bucks are growing the stalest of them all, totally stripped of their copper furnishings and artwork and forced to wait out the 24.3-month supply of those just as opulent as they are? So what's a poor, expensive vacant home to do with all that time? Become a haven for a "home manager"! A company called Showhomes, whose slogan is "from vacant house to valued home," is making a killing furnishing, decorating, and managing the increasing number of high-end vacant homes for sale nationwide...mo'