A report from the Review Journal in Nevada. "Homebuilders’ sales totals dipped throughout Southern Nevada early this year. But according to a report this week, buyer activity fell particularly hard in a normally hot spot for house construction: Summerlin. Builders sold 302 homes in Las Vegas’ largest master-planned community in the first quarter, down 26 percent from the same period last year, Summerlin developer Howard Hughes Corp. disclosed."

"Las Vegas homebuilder Tom McCormick doesn’t have any projects in Summerlin, nor does he know whether prices there were slowing sales. But in general, he said: 'The higher the prices go, the harder it is to sell homes.'"

The Washington Post. "The sellers of a 7,500-square-foot house in the Washington area on a nearly one-acre lot insisted that their home be listed for sale at $5.5 million, even though their agent recommended $4.5 million based on comparable sales. The home was beautiful, but they were unrealistic, says Corey Burr, an associate broker with TTR Sotheby’s International Realty. Two years later, the house sold for $3.8 million."

"'Research shows that the longer a property is on the market, the lower the final sales price will be,' says Koki Adasi, president of the Greater Capital Area Association of Realtors. 'The owners of a farm in Frederick turned down an offer of $1.1 million because they thought it was worth more. It took two years to sell and went for $575,000.'"

The Buffalo News in New York. "Sheila Banks recalls the shooting flames, orange and yellow, reflecting in her front window as the house next door – just a few feet away – was ablaze in the early morning hours of Oct. 2, 2015. The house at 1276 Seneca St. was yet another property flipped by AbdulAziz HouHou and associates – making it one of 17 that were demolished in Buffalo since the house-hunting spree began in 2013. Half of the 17, The News found, were damaged by fire before being torn down."

"The Buffalo News reported last month that HouHou, a Kuwaiti real estate broker who is now in prison in Kuwait, and his companies bought or brokered at least 160 Buffalo properties from 2013 to 2016 that were sold to Kuwaiti investors."

"The houses, according to a Kuwaiti court, turned out to be part of a $140 million to $240 million international Ponzi scheme, that also included houses in Rochester, Detroit and Cleveland and vacant lots in Florida and North Carolina."

"In some instances, according to Ali Al-Attar, an attorney for the Kuwaiti investors, the HouHou organization – rather than the owner – was listed as insurance beneficiary on the flipped properties. And there were times, investors said, when insurance claims were filed and collected after fires, but the money was never given to the Kuwaitis investors who owned the burned-down houses."

The Orange County Register in California. "Homebuying in inland South County — including Lake Forest, Mission Viejo, Rancho Santa Margarita and San Juan Capistrano — fell 31% in what was Orange County homebuying’s slowest start to a year since 2009."

"Mission Viejo 92692: $670,000 median, down 6.6% over 12 months. Lake Forest 92630: $670,000 median, down 12.6% over 12 months. Trabuco Canyon-Coto de Caza-Portola Hills 92679: $925,000 median, down 6.6% over 12 months. San Juan Capistrano 92675: $732,500 median, down 17.9% over 12 months."

The San Jose Spotlight in California. "As California’s housing crisis rages on, two San Jose housing commissioners are looking for ways to put residents back into the thousands of vacant homes sitting in the city’s housing stock."

"Commissioners Alex Shoor and Huy Tran will propose that city officials consider a tax on vacant properties to penalize homeowners for keeping them empty. Data from the U.S. Census indicates that in 2017, San Jose had 11,952 vacant units – a rate that is one of the lowest in the country among large cities. In the San Jose, Sunnyvale and Santa Clara area, the data shows 28,846 homes are empty, and Shoor and Tran say their research suggests that at least 30 percent may be vacant by choice."

"They said the number of vacant homes in San Jose has risen by 42 percent in the past five years. Shoor added that homeowners may be holding on to vacant properties for investment purposes, something he called 'a travesty. 'You just buy a property and you sit on it and you’ll make money,' he said. 'When we have the conditions that we do now where the supply and demand are completely out of whack with each other, it allows more bad actors to enter the game and to take advantage.'"

From Mansion Global on California. "The picturesque Spanish Colonial mansion known as Richard Nixon’s 'Western White House' in San Clemente, California, has gotten a $6 million price cut."

"The sprawling oceanfront estate first hit the market nearly four years ago asking $75 million. It has since had several rounds of price changes, including the latest discount. It’s now asking $57.5 million, according to a listing from agent Linda May of Hilton & Hyland."