There Is A Bubble To Burst
A report from Fox 13 in Utah. "Matthew Clewett bought his first home in Kaysville back in 2021. Since May, the board says those prices have dropped 22 percent. 'It was an offer that I actually had to pay above…
You Are Effectively Trapped, And Your Bank Knows It
A report from Axios on Virginia. "Richmond home prices seem to be leveling off some after soaring for two years, per Redfin. The city of Richmond saw the biggest year-over-year drop in median sales price for single family homes in…
It Was Hard For Sellers To Realize That They No Longer Have That Price Escalation
A report from the Tribune in California. "If 2022 was a roller coaster for San Luis Obispo County's housing market, 2023 appears to have pumped the brakes somewhat. The median home price has cooled off to $790,000, a notable drop…
If You’re A Seller, You Have To Wrap Your Mind Around The Idea You’re Not Going To Get The Price That You Thought It Was Worth
A report from the Arizona Republic. "As interest rates have risen nationally, housing sales prices have fallen about 13% in the Phoenix metro since the peak in May 2022, said Danny Court, partner and senior economist with Elliott D. Pollack…
An Asset Which Produces Nothing
A report from KTNV in Nevada. "Some Las Vegas sellers are getting creative to get more offers. Zoom in towards the area of St. Rose Parkway and I-15 and you'll find a home listed for only one dollar. 'It is…
Real Estate Is The Biggest Mafia
A weekend topic starting with the Marin Independent in California. "The median price of a detached home in Marin County fell to $1.675 million last month, nearly wiping out the gains for the year, according to the latest county data.…
The Crumbling Totems Of Hubris, Greed And Folly Will Become Scars On The Once-Joyful Hills
A report from News for Jax in Florida. "Jonathan Daugherty, a realtor in St. Johns County, said housing fallout is leading to better deals. The future homeowner can no longer afford the home, and in some cases, the buyer is…
Values Are Coming Down Because They Have To
It' Friday desk clearing time for this blogger. "Housing inventory in the Austin area has reached the highest level since September 2018. Spyglass Realty CEO Ryan Rodenbeck said the market has changed so much in the last couple of months…
Sellers Are Not Getting The Prices They Want, And They Are Incredulous At The Change
A report from the Sun Sentinel in Florida. "More inventory is coming back to the housing market and closed sales are plummeting as the buyer frenzy of the past year starts to taper. 'Buyers cannot handle these high prices and…
A Little Sense Of Seller FOMO, Where They’re Like, Oh No, We’ve Missed The Top
A report from Fox 13 on Utah. "'Finally the madness has stopped,' said Steve Perry, president of the Salt Lake Board of Realtors. 'Finally the sellers are catching up with how the buyers need it to be. Buyers can now…