How's real estate market in your area?

Discussion in 'Economics' started by a529612, Aug 12, 2006.

  1. I've heard even the "invinsible" California market is starting to crack.

    How's the real estate market in your area?
  2. CA has been cracked for at least a year.

    I've written this before. Houses in my area that sold in 48 hours for 500K 18 months ago, can't get an offer at 440K today. Many places are listed in the low 400's now. And many ARM/io loans haven't adjusted yet... I can't wait to see the foreclosure numbers in a few months.

    I heard the number of foreclosures in Riverside county increased by 120%.

    Everybody that could fog a mirror already has a home loan and the flippers are getting toasted.
  3. Houses have "For Sale" signs everywhere here in Southern VA, doesn't seem like much buying is occuring though.
  4. bjg


  5. Condo's went up 22% in July in King County (Seattle)! Single family house sales are still red hot. The avg house in Seattle was $470k last I checked and a condo is approaching $300k.
  6. No slowdown here just south of Chicago In the town of St.John, IN. where I live, and Dyer, IN. I would guess nearly 1500 new homes have been built in the last 3 years and they still sell em as fast as they build them. Only an hour to Chicago is the draw. New homes are generally priced from 275K to about 450K. The growth has caused tremendous congestion, which I moved here to get away from 9 years ago. I hate it now. My as well move back to the f'n city.:mad:
  7. Lots of supply. This Spring, 5 of 18 homes on my block were for sale. And "open house" signs were just everywhere.
    This is Southeast PA (philly burbs), btw.
  8. pretty hot here but am on the other side of the ocean: a modest 3bedroom house costs u around €300k...big houses and commercial spaces havent increase that much tho but demand for small-medium family homes has skyrocketed.
  9. Florida on the Atlantic Ocean. Sales are slow, there are lots of houses and condos listed for sale but few buyers. Maybe buyers are waiting until after the hurricane season to purchase. No point in buying a house just to see the roof get torn off by a hurricane.
    #10     Aug 13, 2006