By: Jacek

Jacek — Thu, 05 Jul 2007 15:34:29 +0000

When we are looking at the statistics everything looks so fine. The real market is much worse. I see properties in Chicago area starting in some areas from 100-150k when one year ago you could not find anything below 200k. When comes to new homes in my area 60707 builders are holding to past years prices keeping properties on the market in excess of 500-600 days. The only question is how long you can keep paying for empty home. The cycles in real estate have few years span so there is not real hope to get same money like before for homes sitting so long on the market. The drop in prices is going happen sooner or later regardless what some people (CNN) are wishfully thinking (see: Slim pickings for real estate vultures)

By: Vinny

Vinny — Wed, 25 Apr 2007 03:02:45 +0000

Florida is a disaster zone for Real Estate. I have a beautiful 2 b/2b Condo in Palm Coast, FL. less than 5 minutes from a beautiful uncrowded beach and the Intracoastal Waterway and 20 minutes from St. Augustine. It’s been on the market for 9 months without a single offer. Priced at $155,000, vacant, and in move in condition and priced lower than similar homes and early last year it would be gone in a week. Now the Realtors say the market is totally dead and the only properties they are moving are foreclosures that the bank’s are unloading. The same story in Orlando and all of Florida. The collapse happened nearly overnight after the ‘investors’ (who had hyped the marked to the max) had unloaded their properties. I wasn’t smart enough to see it coming, so I’m not whining. I hope I can sell my place in the next year or two because the Realtors have just about given up on Florida Real Estate.

Comments on: Existing Home Sales Drop 8.4 Percent Nationally in March 2007

By: Jacek

By: Vinny