The Boston Globe has the latest on the bursting condo bubble. "With a wave of new condominium units now available in Greater Boston, real estate developers are offering incentives to boost sales and move hard-to-market units. Developers are often willing to pay closing costs, forgive monthly maintenance fees for a year, or throw in amenities such as free hardwood floors."

"These incentives are rarely advertised, but buyers, sensing that the leverage in negotiations is shifting in their favor, are bargaining harder for extras."

"'All of a sudden, in the last year, there are so many projects that we haven't really been facing this kind of surge of units and projects in the city before,' said Lili Banani, a Back Bay agent. 'There's a lot of competition, and that's why you see more of these incentives.'"

"The market for single-family homes in the suburbs slowed considerably in 2005, but Boston's condo market remains strong. Yet there are currently about 1,350 downtown condos for sale, up from 880 a year ago. And the pipeline is full of new construction and apartment-to-condo conversions. The Boston Redevelopment Authority recently estimated that 14,000 residential units are under way or approved, and, over the next five years, an estimated 1,000 new units will come on the market annually. That's on top of existing units that would come on the market due to normal turnover in the real estate market."

"In June, Jerry Greeff helped his 25-year-old son, Adam, purchase his first property, a $322,000 unit in the complex. That deal included the $2,000 sweetener. The developer also pitched owners in the building on buying a second unit. That was 'the farthest thing from my mind,' said Jerry Greeff. But Sullivan sold the Greeffs on a second unit on a higher floor by cutting the price $30,000, to $397,000, and giving them $3,000 for closing costs."

"Some developers are hesitant to disclose specific incentives, for fear of sounding eager to give money away, a fear that conflicts with their desire to send a clear message that they will accommodate prospective buyers. 'We're definitely willing to talk,' said Kevin Lewis."

And prices are falling in Atlantic City. "With home prices throughout Atlantic County continuing to pull in high double-digit appreciations, a financial data and services group is labeling the area 'extremely overvalued.'"

"Daniel Maloney, an agent in Atlantic City, defended prices for Boardwalk and beachfront properties in Atlantic City, but did concede that some mainland communities are overpriced. 'I will admit that places like Mays Landing, Absecon, Egg Harbor Township, where large tracts of land have created a lot of competition for development, are seeing increases that might be an overvaluation,' he said. 'There is room for adjustment out there, I would say.'"

"Agents and brokers in the Ocean City area are now saying the market's valuations retreated by about 10 percent recently."

"Richard DeKaser, chief economist with National City Bank, won't call the overpricing a bubble, but said the 58.6 percent overvaluation puts the area at risk of a price correction. The report noted its recent softening. From June to September, the area's overvaluation dipped from 54.8 percent to 46.7 percent."

"'In fact, we saw this for the first time in the third quarter for many markets. The decline in degree of overvaluation, which is not to say it corrected itself, is falling. It suggests that we may no longer be in a rising tide with all areas going up together. Some of the hotter markets might be hitting their ceilings,' DeKaser said."