It’s Tempting To Shoot High, But That Often Backfires

It’s Friday desk clearing time for this blogger. “As tourism slumps in Las Vegas, the residential and commercial real estate markets are showing similarly worrisome signs, according to analysts and stakeholders. Las Vegas homebuilders are selling fewer houses to would-be buyers. Through the first half of this year, builders sales were down 24 percent from the same stretch last year, according to Home Builders Research data. Construction of commercial real estate as well as projects in the pipeline are slowing in the Las Vegas Valley, data shows. Robert Little, a real estate agent with Re/Max, said he remains ‘bullish’ on the valley’s residential real estate market and doesn’t believe the underlying statistics point to a larger problem down the road for Las Vegas’ overall economy. Little said the biggest issue for the housing market is elevated mortgage rates. ‘Yes, rates are high, and there is a lot of people who don’t want to sell because they are locked into a low rate or they are coming from other markets like California,’ he said. ‘And they can’t sell their house which is why inventory is a little bit higher than it has been before.'”

“The valley has been consistently leading the country in the increase of homes on the market for sale over the past few months. In July alone, single-family home listings were up 54.2 percent from a year while condo and townhome listings were up 77 percent.”

“Flagler County’s unemployment rate in July rose to 5 percent, from 4.8 percent the previous month, the highest jobless rate since July 2021, when it was still trending down from the Covid pandemic slowdown. Palm Coast’s unemployment rate of 4.9 percent also matches a four-year high. The housing inventory in the county–the number of houses available for sale–hit a 15-year high, according to the latest available figures. Other signs suggest a slowdown in Flagler County’s economy, which is heavily driven by housing. The number of active listings for houses was 1,444 in April, up 34 percent from a year earlier, according to the Flagler County Association of Realtors. It is the highest inventory since February 2011, when the county was recovering from the housing bust. It was taking 43 percent more time for a house on sale to get to a contract, compared to a year ago, and the supply of housing had risen to six months. The figures strongly suggest that a housing glut may be building in the county, as construction continues apace. Meanwhile, employment in the construction sector dipped by 1,000 jobs, after declining by 1,600 positions in June, according to the report.”

“The Katy–Fulshear housing market saw inventory climb to record high levels in July, while home sales slowed for the second month in a row. At the same time, the number of homes sold slipped from June, showing signs that demand is easing as the summer season winds down. With more homes to choose from and sales moving at a slower pace, buyers are in a stronger position to negotiate. For sellers, record-high inventory means standing out is more important than ever. Homes that show well and are priced competitively can still sell quickly, but those that overshoot the market risk sitting on the market. Zip‑code snapshots: 77493, Prices: median $328,065 ‑12.5% YoY. What this means: New‑construction‑heavy areas continue to carry large inventories and lower price points; volume held up, but year‑over‑year pricing is softer.”

“Recent data from the Colorado Association of Realtors indicates that while housing inventory has increased statewide, homebuyers remain cautious due to high interest rates and economic uncertainty. Longtime local realtor Julie Kersting with 8z Real Estate emphasized that working with a knowledgeable local agent can help sellers navigate the subtleties of the Chaffee County market. She warned against the common pitfall of overpricing. ‘It’s tempting to shoot high, especially in a tight market. But that often backfires,’ Kersting said. ‘Homes that sit for too long lose momentum and negotiating power.’ Instead, she suggested listing at or slightly below market value to attract more interest from the outset. Strategic underpricing, in the right conditions, can even lead to competitive offers.”

“Roughly 1.39 million residential properties, equal to 1.3% of the nation’s housing stock, sat vacant as of September 2025, ATTOM said in its quarterly Vacant Property and Zombie Foreclosure Report. Zombie activity was most concentrated in a handful of neighborhoods. Los Angeles’ 91001 zip code led the nation with more than 80% of its foreclosure pipeline abandoned. Peoria, Indianapolis, Tampa and Cleveland also ranked among the highest-risk pockets.”

“Early last year, vandals breached fencing, climbed dozens of flights of stairs and painted bold, colorful graffiti on the exterior of three unfinished high-rises that make up the abandoned Oceanwide Plaza development. The so-called Graffiti Towers — visible from great distances on the 110 Freeway and looming over thousands of visitors attending events across the street at Crypto.com Arena — were expected to be sold in a bankruptcy auction a year ago. But the long-running bankruptcy sale of downtown Los Angeles’ most spectacular eyesore drags on with no clear end in sight. Construction on what would have been one of the city’s most notable landmarks, with high-rise housing, a hotel and a shopping center, halted in 2019 when Beijing-based conglomerate Oceanwide Holdings ran out of money to pay contractors after spending $1.2 billion on the complex that fills a large city block on Figueroa Street.”

“Resolution of the Oceanwide Plaza saga also can’t come soon enough for many downtown stakeholders who see the graffitied towers — rising as high as 49 stories — as a dark presence besmirching the city and sending a negative message about the neighborhood. ‘The Graffiti Towers have worldwide infamy at this point,’ said Cassy Horton, co-founder of the DTLA Residents Assn. ‘It’s like this beacon that shines and says, ‘Come create mischief down here and you won’t get in trouble. This is the spot to do it.’ Los Angeles architect Douglas Hanson, who designed the 35-story Circa apartment complex next to Oceanwide Plaza, has an idea to shield people’s gaze from the graffitied towers and bring in some money. He suggests rolling down vinyl advertising signs that could be seen on the from the freeway on the west side of the complex and lowering other vinyl coverings on the east side that would display a beach scene or some other art.”

“Residents in the small northern Ontario township of Fauquier-Strickland are facing a possible 80 per cent property tax increase this year as the community works to dig itself out of a financial deficit. In early July, Fauquier-Strickland Mayor Madeleine Tremblay said the municipality would need to shut off services like garbage collection by Aug. 1 if the province didn’t intervene with financial support. At that time, council also proposed a tax increase of up to 200 per cent to pay off the municipality’s deficit and cover basic services. But Davidson’s proposal for an 80 per cent increase instead wasn’t well received by residents. ‘They’re trying to put a budget through that nobody can afford,’ said Donald Armstrong, who attended the council meeting. He said he’s been trying to sell his home, but that fell through when news about Fauquier-Strickland’s financial troubles broke. ‘So now me and my wife are stuck here because we can’t sell the house,’ Armstrong said. ‘Nobody wants to move into a municipality that’s literally on the verge of bankruptcy.'”

“The lighthouse-inspired Chesil Cliff House, which featured on what was dubbed the ‘saddest ever’ episode of Grand Designs, has finally sold after 12 years of renovations. The property’s construction left its owner, Edward Short, 57, in a staggering £7m debt. The building process took over a decade and went several million pounds over budget, impacted by the recession and ultimately leading to the end of Edward’s marriage to his wife Hazel. The house was showcased on Channel 4’s Grand Designs, with many viewers describing it as the ‘saddest episode ever’ following its airing in October 2019. The programme followed Edward and his family as they faced numerous setbacks, leaving the house in Croyde, Devon, unfinished and the family burdened with millions of pounds worth of debt. The five-bedroom home was put back on the market in January 2024 for £5.25m and was eventually sold in October 2024. ‘I am relieved it is sold; it gives me closure. I put everything I could as a person to make it work, but it didn’t. It is not the end of the world, but it was a financial failure.'”

“On an empty plot in Gurgaon’s Sector 91 surrounded by 15 imposing high-rises — some completed, others still under construction — a group of people gathered around a flagpole. With solemnity, they hoisted the Tricolour to mark Independence Day. These individuals are among nearly 600 families who booked flats in the Fernhill Group Housing Project in Sector 91 (near Manesar) back in 2011. Fifteen years later, they are still waiting for their homes. Over the years the venture became mired in allegations of fraud and financial mismanagement, leaving buyers stranded without homes or refunds, claimed members of the Flat Buyers’ Welfare Association. Retired Air Vice Marshal SS Chauhan, who attended the event, said he wanted to move here after his previous home in Sushant Lok 1 became surrounded by four-storey buildings in 2017, blocking air and sunlight. ‘Even till 2021, it (Fernhill flat) was still not ready… it has been a long and painful struggle,’ he said.”

“China Evergrande – the poster child of China’s ludicrous real estate frenzy – is set to crash and burn. But the tangled wreckage of its $300-billion collapse could take a decade to extinguish. Evergrande Group faces delisting from the Hong Kong Stock Exchange on Monday, an outcome the Communist Party leaders are likely happy to see, given the dark shadow it has cast on their closed and woefully unbalanced system. The developer started with a strong public market debut and a stock value of $9 billion in late 2009 that grew more than five-fold to $51 billion eight years later, only to plummet to earth in recent years. It is now worth a meagre $282 million. The company’s journey from stock exchange darling to a pariah in the financial markets is a cautionary tale of unbridled debt-fuelled expansion.”

“Hopes for some homebuyers and investors who put their money in Evergrande’s wealth management products are also diminishing. ‘After a lot of property viewings, I chose Evergrande because I thought such a big developer would not collapse. I was wrong,’ Douyin user 8AD2D1D4, who was waiting to receive his home purchase, wrote in the social media post. And he is likely one of many thousands.”