The New York realtors report on October sales. "Sales of existing single-family homes in New York state in October dropped slightly more than 7 percent compared to October 2005, according to preliminary single-family sales data. The preliminary data showed a median sales price decrease of 6 percent compared to October 2005."

"The October 2006 sales total of 8,721 represents a 7.3 percent decrease from the October 2005 sales total of 9,403. The October 2006 total fell 3.1 percent compared to the September 2006 sales total of 9,001."

"Sales gains were reported in 24 of the 58 reporting counties compared to September 2006, while 17 reported growth compared to October 2005."

The Evening Times. "The October 2006 statewide median sales price of $235,000 represents a six percent decline from the October 2005 median of $250,000. The October median did increase slightly, 1.1 percent, compared to the September median of $232,500. 'As anticipated, the New York housing market’s shift toward buyers, driven by an increase in available inventory, has slowed median sales price growth to single-digit gains,' said Charles M. Staro, NYSAR CEO."

The Times Herald Record. "As the market slows down and the stock of unsold homes piles up, builders are emptying bags of cash onto their granite kitchen counters (now standard, at no extra cost) in an attempt to lure wary buyers."

"'Things have slowed down, so we've gotta be innovative in selling,' said John Stack, a second-generation Orange County builder whose father offered similar incentives in the late 1980s, the last time the local market went south."

"In Rock Hill, Ronstein Construction is offering a smorgasbord of perks. Owner Richard Steinberg sounds a little bit like the Crazy Eddie pitchman when he ticks off the company's offerings: 'We'll give you one year's taxes on standard inventory. We'll pay your closing costs. We'll pay your title insurance. We'll pay your transfer tax and your mortgage tax, and we'll get you 100 percent financing, so you can buy a house now without spending a penny.'"

"Steinberg tried offering a free Chevy Aveo with the purchase of a $245,000 townhouse, but got only one taker. Now he's focusing on perks that affect the buyer's bottom line. He recognizes the same thing Stack does: For many buyers, the sticker price on a home isn't as important as the cash outlay required at closing and the monthly payments that follow."

"For a buyer who's strapped for cash, picking up $20,000 in taxes and closing costs makes a bigger difference than dropping the price by the same amount."

"An upscale subdivision on the edge of Middletown is offering a grand opening special that includes upgrades to stainless steel appliances and granite in the kitchen. The package is worth about $8,000, said Tom Atkin (a) sales agency for the project. Atkin said that perks have become commonplace in the past several months, as builders struggled to sell into an increasingly difficult market."

"'If they're not incentivizing, if they're not doing something, they're not making sales,' said Atkin." "Vacations are another popular perk, though some real estate agents say they're not a very good idea, in part because they don't add to the value of the home. 'Once you move into a house, I don't think you're ready to go on vacation,' said Theresa Budich of ARC Realty."

"Some incentives target the buyer's agent instead of the buyer. Popular carrots include vacations and larger shares of sales commissions. 'I told my builders we should pay a buyer's agent more than I'm getting paid,' said Budich. 'I want to entice buyer's agents to come and look at the house.'"

"All of these incentives have one thing in common: They're designed to help sell a home without lowering the price. Builders know that if they offer a discount to make a sale, the next buyer in line will ask for even more. 'No builder wants to start to discount his property, because you taint it,' said associate broker Robin White."