Post Local Housing Market Observations Here!
What do you see in your housing market this weekend? Builder incentives? How about a buyback plan? "Developers of Woodland Pond at Manchester are offering new buyers a two-year price protection guarantee. 'We're very committed and bullish on southern New Hampshire, and for good reason,' parnet Robert E. Shapiro said."
The Herald Tribune in Florida. "August is typically a slow month for real estate, but this is ridiculous. According to statistics compiled by John Lafabregue in Sarasota, just 4.9 percent of listed houses and 3.1 percent of listed condominiums were sold in August by members of the Sarasota Association of Realtors."
The Pioneer Press in the Twin Cities. "Indecision is not an uncommon problem for prospective buyers looking for property in an area where sellers outnumber qualified purchasers, says Tom Early, president of the National Association of Exclusive Buyer Agents. 'In a buyers' market, with more inventory available each week, these women feel overwhelmed and can't seem to make the right decision,' says Early."
"By Early's estimate, buyers now prevail over sellers in more than 80 percent of U.S. neighborhoods. But he says this situation is only as advantageous to buyers as they make it."
The Canaberra Times from Australia. "Established house prices could fall by about $100,000 if there were large-scale land releases, the author of a study on housing affordability widely quoted by government ministers has estimated. 'Canberra is down there in the middle of a desert,' Alan Moran said. '[There is] a lot of land around there and the land is worth around $10,000 a hectare. You get 10 blocks per hectare. It should be about $1000 a block.'"
From WHO TV. "You can find a 'for sale sign' on practically every corner here in Des Moines. While sellers cringe at the current trend, buyers are thrilled. They're watching prices come down, and some developers are evening offering incentives to encourage them to buy."
The Dallas News. "North Texas home sales continued to cool in August, the third consecutive month of declining residential activity. The pause after years of sales gains has caught the real estate industry's attention. 'People who have planned to sell at the top of the market may not get it,' said (realtor) Sheila Rice."
"'Overbuilding in Texas is probably our biggest concern for the moment,' economist James Gaines said. 'The main thing we're hearing and seeing is some slowdown in new home purchases and some buildup in builders' inventory."
"'We don't have a bubble in Dallas,' she said. 'But they are getting a steady diet of it in the media. If they keep hearing it long enough buyers will think that maybe they should wait,' Ms. Rice said. 'That could cause a problem if too many of them make a call like that.'"