The Housing Bubble Blog

The News Press reports from Florida. "WCI Communities Inc. announced this morning it expects to record a loss in the fourth quarter due largely to increased contract cancelations. The Bonita Springs-based luxury expected to close 621 traditional homes in the fourth quarter and actually closed 434...

The Associated Press reports on Massachusetts. "Massachusetts' housing market had its worst year in more than a decade, with sales and the median price for single-family homes dropping to levels not seen since the mid-1990s, a firm that tracks real estate transactions said Monday." "Diana Grammont,...

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A housing report from the Idaho Statesman. "Treasure Valley housing sales fell 13 percent in 2006 because the market deflated in both Ada and Canyon counties during the second half of the year. According to the Intermountain MLS, 15,506 homes were sold in the Valley last year, down from 17,917 in...

The Journal World reports from Kansas. "Mayor Mike Amyx knew this news was coming. As a follower of the local real estate market, Amyx has been hearing for months about Lawrence residents struggling to sell their homes. 'You hear the stories over and over again that people aren’t getting anything...

The Boston Globe reports from Massachusetts. "Massachusetts single-family housing sales had their worst December since 1991, and the median sale price for a single family home fell 8.1 percent to $310,000 in December 2006. Those are among the conclusions of a report issued today by the Warren...

The News Press reports from Florida. "A chance at irresistible real estate deals attracted more than 300 sellers, bidders, speculators and spectators to a packed South Fort Myers hotel conference room. A market adjustment started about one year ago and intensified throughout the year, creating a...

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The Press Democrat reports from California. "Before retiring to Oregon, Bob and Nona Windus put their Santa Rosa house on the market. Now the couple are about to become landlords. Rather than accept an offer for $114,000 under their original asking price, they decided to rent the three-bedroom home...

A report from the Wisconsin State Journal. "A housing bubble didn't burst and the market didn't crash, but a housing boom of nearly a decade came to an end last year in south-central Wisconsin. The high inventory meant that even attractive homes in desirable neighborhoods sometimes had trouble...

A housing report from the Arizona Republic. "A wave of mortgage fraud is rippling through pockets of the Valley, inflating home values through scams called cash-back deals. Left unchecked, cash-back deals cost homeowners and lenders millions of dollars and could erode confidence and values in...

What do you see in your housing market this weekend? Are prices falling? "Tucson home sales and prices fell during December, while days on the market rose, all evidence of a continuing slowdown in the local housing market. That means the market is improving for buyers, they have more negotiating...

A housing report from the Baltimore Sun. "Steve and Debbie Lombel put their four-bedroom Colonial in Odenton on the market in May, figuring it could take maybe four months to sell a house in the mid-$800,000 range. But eight months later, the now-empty house is still sitting on the market." "The...

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The Record Searchlight reports from California. "Jeff and Julie Cozzo are giving new meaning to a short sale. The couple, who split time between Redding and the San Francisco Bay area, plan to sell their Springer Drive home, an investment, Sunday night to the highest bidder. Bids will open at...

The Reno Gazette Journal reports from Nevada. "Clark County had 2,163 homes, one in 277 households, in the foreclosure process in December. 'Much of the buying in Southern Nevada was by people that were going to not occupy the house, and they fully expected to flip the house (once it was built),'...

The Republican reports from Massachusetts. "New home construction for 2006 more than halved the 100-home- a-year average seen here for more than a half-century. The Building Department issued 49 building permits for new single-family dwellings in 2006. Westfield, geographically one of the largest...

The News Press reports from Florida. "Property owners hoping for a quick profit left disappointed Friday as bids were low during the first day of a land and home auction in Fort Myers, where 68 residential and commercial lots were on the block." "Ariel Crespo put two lots in the auction. He had...

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It's Friday desk clearing time for this blogger. Virginia, "Three experts, speaking to the Frederick County Builders Association, said the housing slump isn’t over. Wayne Six, a Frederick appraiser, said the inventory of homes, now at 1,500, will most likely climb to 2,200. 'We knew it was coming....