It's Friday desk clearing time for this blogger. "Taylor Denchfield says he has been flipping homes since he was 17 (he is now 25). Data from the first three months of this year suggests the flipping market has already begun to cool off. 'We're certainly reaching the top of the bubble,' said Denchfield, a Washington, D.C.-area real estate broker. 'Investors may be getting out while the getting is good, before the market softens further,' said Todd Teta, chief product officer at Attom."

"Among the more than 16,200 condo units across 682 new buildings completed in New York City since 2013, one in four remain unsold, or roughly 4,100 apartments — most of them in luxury buildings, according to StreetEasy. In an analysis of seven luxury towers on and around Billionaires’ Row, including pending sales, almost 40 percent of units remain unsold, said Jonathan J. Miller, the president of Miller Samuel Real Estate Appraisers & Consultants."

"The last time similar offers were made was in the late 2000s, 'when the bottom dropped out,' said Simon Bacon, a senior vice president with Douglas Elliman. 'It’s a troubling sign.' 'People don’t realize this is already as bad as it was after Lehman, purely from a supply standpoint,' said Mark Chin, the chief executive of Keller Williams TriBeCa. 'I can smell it from here, I just can’t figure out yet where the stench is coming from. But it’s guaranteed to be happening.'"

"But among new projects, developers do not suffer equally, said Donna Olshan, Olshan Realty ’s president. The developers who bought at peak land costs and who promised lenders overly ambitious returns are less able to reduce their pricing now that the market has softened. 'Some of them are caught between the devil and the deep blue sea,' Ms. Olshan said."

"If you had invested in a property in San Francisco five years ago and cashed out in 2019, you would have made a 50% profit, never mind the rental income. But if you had bought a year ago and sold today you would have made exactly zero. The California boom is over and investors need to switch to Plan B, which is the answer to the Jeopardy question: How do you deal with a market that at best will be moving sideways, but could also drop 20%?"

"The cycle is the same. People with new money bid up real estate until builders produce more or everyone who wants it has enough. Then nobody is left to pay the astronomical asking prices and these have to come down."

"A 7,418-square-foot home in Naples, Florida, is set to be sold in a live, no-reserve auction on Nov. 2, according to Elite Auctions. The home was most recently listed for $7.95 million. But it first came on the market in February 2016 for $12 million. That listing was removed at the end of 2017. The home was relisted in January 2018 for just under $10 million, but still has not found a buyer, even at its lower price."

"The 14,000-square-foot mansion on Deere Park Drive sold Sept. 10 for $800,000, less than the $1.18 million that the seller paid in 2017 when he bought it in foreclosure. This recent seller's planned rehab never went through, and he put in on the market in August 2018, asking $2.2 million. He sold it for about 68 percent of what he paid for it. This week's sale price is also well below the $2 million that previous owners paid for it 28 years ago, before launching a decade-long rehab. After spending several years in the 2000s trying to sell it for prices upward of $7 million, they ultimately lost it to Bank of America."

"Red Deer realtor Richard Pochylko sometimes finds house sellers need a bit of a reality check. The market has been correcting for several years now, and the new house value number is sometimes an eye opener, said Pochylko, president of the Central Alberta Realtors Association. 'There are still a lot of people who haven’t been thinking about house values,' he said. 'If you talk to them, they’re literally shocked by what you tell them.'"

"Property prices in Dublin are now falling for the first time in seven years, according to the official figures. The rapid slowdown in property price inflation has been linked to the pick-up in the supply of new homes. New dwelling completions rose by 25 per cent to 18,072 last year and are expected to be up again this year."

"A few months ago, the state government had proposed the unthinkable: imposing a ban on the construction of apartments and high-rises. The radical idea came as a result of an acute shortage of potable water in the city and a torrent of bad news from Chennai. Though the proposal remained just that, a proposal, several other factors seem to have done the government’s job. Construction activities have slumped by over 50% in the last two to three years in the city."

"'People are afraid to invest as so many reforms are being implemented by the governments. The slump has resulted in the price drop of these unsold units as the industry is pinning hopes on brighter days,' said a senior official."

"Property investors are dumping assets on the expectation that prices are set to decline, and so-called gap investors are also selling. 'Many are selling their real estate, except for few key properties, in order to manage risk,' said Han Moon-do, Yonsei University professor of real estate finance. 'They think the housing prices have peaked.'"

"Sun Hung Kai Properties Ltd, Hong Kong’s biggest developer, is offering new homes at a discount to entice buyers. The first batch of units in the Kowloon development Cullinan West III have been priced at 20 percent lower than current market levels in the area. The pricing is described by the developer as 'traveling back in time' — it is close to the price set two years ago for the first phase of the same development, even though home values have risen 8 percent in the period."

"Zerin Properties Sdn Bhd real estate negotiator Natasha Gideon said she has seen some improvement in the subsale market. 'For those with cash in hand, they realise now is a buyers’ market. In addition, owners are willing to let go at below market value. The only constant issue is clients not having enough money for the 10% downpayment,' she said."

"Pure Property Investment’s Paul Glossop said that he remains concerned for the house and land packages segment of the market, particularly in Sydney’s south west region where a significant portion of the NSW government’s infrastructure spending has been directed recently. 'Those are the ones which scare me the most,' Mr Glossop said. 'People got caught up in the hysteria.'"

"According to him, house and land packages are often located at a considerable distance from city centres and infrastructure, because they were built on the 'next bastion of available land' on the outskirts of Sydney. Investment adviser Simon Peisley said that investors can implement several strategies to bridge the gap between rental cash flows and borrowings in SMSFs. 'The key here is to take a completely objective approach to rental income generated. If reducing the asking rent by $20 per week is going to save you from the property being vacant for four weeks as well as agent fees, then you should swallow your pride and consider it,' he advised."