Post Local Housing Market Observations Here!
What do you see in your housing market this weekend? Have a graph to share? Slower market? "In a climate of nervous buyers and frustrated sellers, the average Baltimore-area home sales fell by more than 22 percent. It was the weakest October since 2000."
"'This has everything to do with buyer psychology,' said Anirban Basu, an economist in Baltimore. 'They're nervous about buying at the peak of the market.'"
Developer problems? "In what appears the biggest Madison real estate scandal in years, a prominent development firm has collapsed amid a market downturn - leaving a trail of creditors, tax bills and disgruntled investors from Green Bay to Dallas."
"Interviews and a review of public records have put PRDC's debts at more than $20 million. That includes some $11 million owed to two lenders that helped finance Richmond Terrace, an upscale condominium project in downtown Appleton. 'The whole house of cards has crumbled,' said one attorney familiar with the case."
"British Columbia is experiencing the slowly approaching end to its real estate market cycle due to astronomically high prices in the most expensive regions, Credit Union Central B.C. reported Friday. Economist HelmutPastrick said that this cycle shift is unique. 'There hasn't been a phase like this,' he added, 'in the sense that the market adjustment is price-driven, affordability driven.'"
From Alabama. "The Birmingham/Hoover metro area had a total of 878 properties in some stage of foreclosure in the third quarter, an increase of more than 70 percent from the second quarter of this year."
"San Antonio had 3,788 foreclosed homes during the third quarter 2006. That equates to one foreclosure per every 145 households or 2.5 times above the national average."