[user1000]

Originally Posted by kwick release

I would have expected though to see more FL areas in the top 20 compared to CA. In fact, CA had 6 areas in the top 20 compared to 3 areas for FL.

It really depends how you look at it. I see a glass getting close to being half full. Not quite there yet but close.

2000sf in CA=$700,000...vs $300,00 in fl==Use your common sense

[kwick release]

Originally Posted by user1000

2000sf in CA=$700,000...vs $300,00 in fl==Use your common sense

It probably also has to do with the fact that CA is bigger than FL.

[Wild Style]

Originally Posted by firemed

Is anything selling?

Now thats the million dollar question. If people are not lowering their prices and the homes are sitting there then the asking price is too high.

[Hero]

Originally Posted by Wild Style

Now thats the million dollar question. If people are not lowering their prices and the homes are sitting there then the asking price is too high.

What I've been seeing in the past few months is that homes have lowered and buyers have come forth. The homes get taken off the market. I don't know what happens. Either the buyer backed out or the deal fell through. But the homes come back and remain on the market.

[Cougar31]

Things should stay about the same until the November election. then, depending on the direction of the new leadership...things will either get better or tougher for the average American.
Regards,

[Wild Style]

Originally Posted by Hero

What I've been seeing in the past few months is that homes have lowered and buyers have come forth. The homes get taken off the market. I don't know what happens. Either the buyer backed out or the deal fell through. But the homes come back and remain on the market.

i read a article a week ago. It said deals are falling through. With the credit bubble busting, people are finding it harder to actually qualify for inflated prices. Market forces are at play here, those who fight it will just suffer in the long run. They will get far less in the future for their homes what they could have gotten for it now, had they been reasonable.

[NY62]

Originally Posted by firemed

Is anything selling?

yes 4 homes in one month ,december of all months too. just in my development alone , and prices have not really dropped. some people are still priceing higher then the market three years ago, those houses are sitting. I believe that is why they are saying the decline is not that severe here , some areas are staying the same and some have dropped 20% that is why the avg drop is low. But the houses are not selling like they were , that is for sure, it was not uncommon to have 2 or 3 offers at a time on houses and get more than the asking price. I still think NY and long island are going to hit the skids soon, I hope I am wrong but with the prices of oil people are hurting. My theory is if it gets real ugly here it will only get worse down there, people cant sell here to move there anymore. we shall see.

[sunrico90]

Is this available?

Will this help in the current housing market?

[Mike Peterson]

Originally Posted by sunrico90

Is this available?

Will this help in the current housing market?

It depends which county you are in.

Some countys have the first time home buyer bond money available only for extremely low income people.
The program will be re-funded around August or so, from what I hear, for all first timers.

I think it could boost it up a little and with some areas seeing a little bit of action lately, every little bit helps.

[Wild Style]

Originally Posted by NY62

yes 4 homes in one month ,december of all months too. just in my development alone , and prices have not really dropped. some people are still priceing higher then the market three years ago, those houses are sitting. I believe that is why they are saying the decline is not that severe here , some areas are staying the same and some have dropped 20% that is why the avg drop is low. But the houses are not selling like they were , that is for sure, it was not uncommon to have 2 or 3 offers at a time on houses and get more than the asking price. I still think NY and long island are going to hit the skids soon, I hope I am wrong but with the prices of oil people are hurting. My theory is if it gets real ugly here it will only get worse down there, people cant sell here to move there anymore. we shall see.

I was trying to find these two articles I posted some time ago but cant. Basically they showed that long island is already taking huge hits. There was one home they mentioned as a example on the north shore that was on sale for 750,000 initially. No buyers they dropped down to 500,000. A year later and the largest bid they had so far was 300,000.

They then moved into queens with the story and talked about how homes are just sitting, not selling. Some people figured their homes would sell and just moved down south first with out selling their NYC home. THey were now over extended severely. As I have said many times, I think two problems are going on in NYC. First is, sellers are out of touch with reality. Homes are not selling yet sellers are trying to hold out on price (just like it was when it first got started in Florida). The second is I think the media is skewing information intentionally. Back in the 90s home prices in NYC fell by as much as 50%, I think it will be a even bigger drop this time, NY is just a bit behind the curve.