Maybe house prices finally are coming down.
Jean Gascoigne, an agent for 40 years and a broker for 38, reports that she has never seen as many price reductions as she has seen recently. Her brokerage firm, Thomas Brackin in Mountain Lakes, covers Mountain Lakes, the Rockaways, the Boontons, Montville and Denville.
An example she gives: A house in Mountain Lakes was offered at $650,000 on June 28. On Sept. 1, the price was reduced to $625,000. On Oct. 20, to $599,000 -- and it just sold.
A $3.8 million house was reduced in April to $3.599 million and in October to $3.325 million. It still hasn't sold.
November 05, 2005
Housing bubble may be deflating just a bit
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2 comments:
remember when the nasdaq was flying, sales were great, "new economy" was in effect, and then BAM! we fell right off a cliff, orders were cancelled and then the market dripped down for 3 years?
sounds familiar eh? wish you would have sold that pets.com stock, and wish you would have sold that investment condo!
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RickJ
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