The Post Standard reports from New York. "Onondaga County home prices fell during September, another sign that a buyers' market is emerging after a couple of years during which sellers had their way. The median price of the 447 houses sold in Onondaga County during September was $127,000, according to data from the New York State Association of Realtors. That's down 3.9 percent compared with September 2005, when the median was $132,200."

"The number of home sales also declined. Some 521 houses were sold in September 2005, 14.2 percent more than this year."

"Local Realtors say the market has shifted from the sellers' market of 2005 - a record year for real estate sales, to a slower pace in which buyers have more clout to negotiate the price down."

The Press Herald from Maine. "Looking for a smaller home, Cindy Benjamin fell in love last spring with a three-bedroom Cape in Windham. The house needed some work, but Benjamin figured she was in a good position. The Cape had been on the market since July of 2005, and the seller was anxious. Meanwhile, high inventories and falling prices had created a buyer's market."

"The seller was asking $269,000, but Benjamin was able to get it for $255,000. The seller even agreed to cover $5,000 in closing costs."

"There was only one problem. Cindy Benjamin couldn't sell her existing home. Seven months later, she's still living in her four-bedroom Colonial. 'I bought at the right time, but I'm trying to sell at the wrong time,' she said."

"It's a common situation, real estate agents say. On one hand, they want top dollar for their valued home; on the other, they expect a bargain from the seller. That's not realistic, say agents, who are trying to manage expectations in a changed market."

"With many analysts predicting further declines in the months ahead, seller-buyers need a reality check, according to (realtor) Cathy Manchester in Gray. Start with price, Manchester advised. Don't rely on comparable sales from six months ago to figure what your house is worth, she said. 'You have to know what you're up against for competition,' Manchester said."

"Honestly compare the competition to your house. Then ask yourself why someone would pay more money for your house, when there may be dozens of other candidates to choose from."

"Your initial asking price is crucial, said Pat Rabidoux, a broker in Yarmouth. 'You need to make sure the property you're selling is a perceived value,' Robidoux said."

"Two years ago, when the market was tight, buyers might have overlooked an older roof or leaky plumbing. Now they're more demanding, Robidoux said. Both Robidoux and Manchester agree, however, that it rarely makes sense to spend big money to redo a kitchen or finish the upstairs."

"'You're not going to get that money back in the sale,' Robidoux said."

"When sales were brisk, sellers might agree to a contingency sale. With sales slow and plenty of inventory, that practice has fallen out of favor. 'Sellers now realize that's a waste of time,' said Leonard Scott, owner of the Assist-2-Sell agency in Falmouth."

"Benjamin initially had listed her Colonial for $425,000. After no action, she recently switched to Assist-2-Sell and is asking $378,900. She got an offer right away, but the potential buyers wanted to make the sale contingent on selling their house. 'I told them I just couldn't take it off the market for 30 days,' she said."

"Deborah Draper of Gray i's in the process of selling a 2,196-square-foot, contemporary Cape and buying a smaller home in town. Draper, who has been working with Cathy Manchester to sell the home, recognized that her property wasn't worth what it might have been a year ago. With Manchester's advice, she listed it in September at $265,000 and within six days had the first of three offers."

"But the process wasn't over. One potential buyer couldn't get financing. As the process continued, Draper turned down contingency requests and had to lower her price after discovering problems with the septic system. She currently has the home under contract for $256,000, and she agreed to the buyer's request to pay $5,000 in closing costs."

"Meanwhile, Draper had spotted a two-bedroom ranch at an open house. The home had been reduced since August, from $214,000 to $199,900. It was still available when her home went under contract. She expects to close this week for $195,000."

"What Draper's situation shows, Manchester said, is that seller-buyers need to price their homes aggressively in this market. 'It costs a lot to have a house sitting vacant,' she said."

The Asbury Park Press from New Jersey. "Zuhdi Karagjozi stood outside the courtroom in U.S. Bankruptcy Court in Trenton last Monday morning, looking defeated. As the owner of Kara Homes Inc., all he ever wanted to do was sell homes and make people happy, he said more than once. He just needed the banks to work with him so that everyone could come out even."

"For Karagjozi, it has been a remarkable turnaround. The East Brunswick-based home builder, the fastest growing in the nation just a few years ago, is in tatters. Banks and suppliers are clamoring to get paid, home buyers might lose hundreds of thousands of dollars, and Karagjozi has been reduced to an observer as others try to salvage his company."

"In retrospect, people who worked with Karagjozi said, the scene at the courthouse could have been avoided. The company borrowed too much money at too high an interest rate, they said. And it couldn't generate enough cash to pay its mounting bills. When the real estate market softened, even a little, the business collapsed."

"'His luck ran out,' said Jonathan Bristol, a Morristown lawyer representing one of Kara's lenders in the bankruptcy case and a friend of Karagjozi's. 'He rode the crest and took a long, hard fall.'"

"Lori Finley signed a contract for a home at Winding Run at Little Egg Harbor in August 2004. She deposited nearly $92,000. Visiting the construction site one day, she said she noticed the house was being built the wrong way; the giant windows weren't looking out onto the woods, but onto her neighbor's house. Her stomach dropped."

"A year later, with the home not finished, Finley decided to pull the plug, and she asked for her money back. Finally, last March, she drove to the company's headquarters, sat in the executive office and refused to leave until she was reimbursed."

"After a Kara official gave her a check, Finley said she drove to her bank, cashed it and deposited it. The check, to her relief, cleared. 'If I did not get in my car and take this into my own hands I would have been one of the poor people who lost all that money,' Finley said."

"Marianne Yetto of Brooklyn, bought a house at Horizons at Woodlake Greens in Lakewood. The Kara house was 85 percent finished and she sold her Brooklyn house, when Kara filed for bankruptcy. 'I am in such a dilemma,' said Yetto, who has put down $75,000 toward her home."