The Death Of Bidding Wars For Florida Real Estate
https://www.youtube.com/watch?v=QE99y_KJkfE
It’s A Very Different Conversation In February Than It Will Be In June Because The Market Has Completely Changed
It's Friday desk clearing time for this blogger. "Nearly one in five sellers dropped prices during the four week period ended May 22, Redfin Corp. said. 'The picture of a softening housing market is becoming more clear, especially to home…
A Nice Word For Busts
A report from the Wilsonville Spokesman in Oregon. "The market already has tapered a bit from its absolute highs a few months ago. 'We're seeing more price reduction come across the MLS (multiple listing service) than we've seen in over…
You Get Crashes After Unbelievable Price Growth
A report from the Fort Myers News Press in Florida. "In a nutshell: 'The peak insanity is over,' said Denny Grimes, president of his team at Keller Williams Realty. That's bad news for sellers. 'We are starting to see prices…
For Investors, Negative Equity Is Just One Part Of The Problem
A report from WTMJ in Wisconsin. "Shorewest realtor Essam Elsafy is counseling his clients through this frenzied housing market. He says acting fast is a necessity. He shared a conversation he recently had with house hunters. 'We saw a house…
The Reason Banks Can’t Lend Is Because There Isn’t Equity To Lend On, It’s A Chicken And Egg Scenario
A report from Reuters. "U.S. homebuilding dropped by the most on record in April and permits for future construction tumbled. The report from the Commerce Department on Tuesday added to dismal data this month showing a staggering loss of 20.5…
A Cascading Series Of Events Threatening Our Basic Economic Structures
A report from Bisnow. "The COVID-19 pandemic is impacting the commercial real estate market in ways both large and small. Shares of real estate investment trusts have fallen 34% between February and March 16, which implies a 24% decline in…
We’re A Little Worried About Saturation
A report from 27 East in New York. "A court has ordered the sale of Ponquogue Point, the bankrupt condominium project on Foster Avenue in Hampton Bays that stalled when it was near completion. Construction began in 2014. The launch…
Usually, There’s At Least One Lender Willing To Lend You More Than You Can Afford To Pay Back
A report from Westword in Colorado. "Fortunately, the real estate game in Denver has moderated in recent months, giving first-timers their best chance in years to find the abode of their dreams. But how do novices get started? And what…
The Year-End Data Wasn’t An Anomaly, And Might Reflect A Correction-Trend In The Market
A report from Wink News in Florida. "A few high rises overlook the Caloosahatchee. But lots bought for condominium have been sitting vacant for years. 'Build it and then if its gonna sit there vacant because they can’t occupy because…