The Queens Chronicle reports from New York. "To hear brokers tell it, now is the best time to take advantage of the 18 month lull in the national housing market and seal the deal on a new home, condo or co op. Likely advice from a real estate agent, maybe, but only a handful of local markets in Queens have stayed hot since the bubble burst last year. In some neighborhoods, prices have dropped anywhere from roughly 5 percent to 10 percent."

"Above all, brokers say show a little restraint in the home stretch of your search. While prices and interest rates are at a record low this year, the temptation to low ball a seller or toe too hard a line during negotiations should be avoided. And while time is a rare luxury these days, don’t wait too long."

"'People have this perception that, because the so called 'bubble' has burst, they can just walk in and offer ten to twenty percent less than the market value, and then dillydally while they consider a counter offer,' broker Tom Vastola said. 'But when that happens, somebody else usually comes along, sees a reasonable price and takes it.'"

"'People are getting very good deals. Sellers are thinking that prices could go lower, so they say: 'Give me an offer that I’m comfortable with and I’ll take it and leave,' said agent Neal Khoorchand."

"Khoorchand explained that many Richmond Hill owners still believe they are in the seller’s market of a year and a half ago and have unrealistic expectations, only to watch homes sit on the market for between four and six months. He recently dropped the price of a 2,000 square foot home on a prime 107th Street corner lot from $639,000 to $599,000."

From Forbes. "When Matthew Haines put his Harlem townhouse up for sale, he still made a crucial mistake. Relying on his broker's advice, Haines priced the house at $1.675 million--too much in a softening market. 'People don't have to fool with sellers who are asking unreasonable prices,' Haines says."

"If you're trying to sell your home in 2007, brokers have one piece of advice: Make sure the price is right. Sellers need to get real, and sometimes that means dropping the price. Unfortunately, many sellers are suffering from housing bust denial. 'All sellers are human,' says Sharon E. Baum, a senior VP with Corcoran Real Estate in New York City. 'Hope springs eternal, right?'"

"Haines had to get rid of his townhouse because he was moving. But the building sat for six months with no buyers. A week ago, his broker called and suggested shaving $100,000 off the price. Haines went even further: He cut the price by $185,000, down to $1,490,000. Within days, two people expressed interest."

The Hartford Courant from Connecticut. "New England charm has taken Litchfield County far, but that is now faltering when it comes to home sales. Single-family median sales prices in Litchfield slid by more than 8 percent, to $242,700, in the quarter that runs from July through September, compared with the same period in 2005, according to the Warren Group."

"It is true that Litchfield County, long a magnet for New Yorkers looking to buy weekend getaways, is seeing a significant slowdown in the purchases of second homes after double-digit annual run-ups in enclaves such as Washington, Sharon and Bridgewater."

"'There was an expectation that New Yorkers would pay any price," said (broker) Ted Murphy in Litchfield. 'But there is a limit to the sky.'"

"Looking deeper into the numbers, the decline is a result of more than New Yorkers retreating to the sidelines, perhaps in hopes that spring will usher in a stronger market."

"There also has been an overall decline in the appetite for single-family houses priced at $400,000 and above as buyers have turned cautious in the face of possible declines in market prices. Indeed, some sellers in the county have pulled more expensive homes off the market to wait out the current period of uncertainty."

"(Broker) John Donato in Watertown, agreed that homes at the low end were still moving 'reasonably well,' but that the number of homes on the market had increased threefold this year."

"In the 06779 ZIP code, there were 25 sales, for an 11 percent decline, compared with the third quarter of 2005. The median sales price fell 13 percent, to $203,600, according to the Warren Group."

"In Watertown's second ZIP code, there were 34 sales, a decline of 38 percent. The median sales price fell 17 percent, to $255,000."

"'The lower-priced houses are the ones that are selling right now,' said Theresa Gorman, a real estate agent in Watertown. 'You're just not seeing a lot of sales over $400,000, and that's not just in Watertown.'"