Driving around Phoenix this weekend I saw an amazing number of for sale and open house signs. It's incredible - block by block, and it doesn't stop - it's as if the whole city is putting their house on the market. I've lived here for ten years and have never seen anything like it
What are you folks seeing in your part of the woods? Noticing the same thing?
December 04, 2005
For Sale signs as far as the eye can see - report your local conditions here
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This isn't exactly the same thing, but today my husband and I went to an open house at a place we're kind of facinated by. This house - built in the 1850s - is a dump - literally. It needs a complete gut rehab and is tiny (1200sf) to boot. It's only been on the market for 3 weeks and they have already dropped the price 50k. A year ago, or even a few months ago a developer would have snapped this up immediately. Now, I'm very curious to see how long it sits.
katy - what city is that? and dropped from what to what?
thanks - stay strong and be patient - or lowball an offer
In the south-eastern Connecticut suburbs of New York City, I have noticed a marked increase in for sale signs, I have seen the same houses for sale for about 6 months, and they are all lowering their asking prices. One house I have been following in Darien, CT has went from $750k to $715k after 5 months on the market and then went to $695k a month and a half after that. Something is definately up.
sorry - forgot to include that this is in cambridge, ma (boston) and that the price went from 460k to 410k. We are not actually looking to buy at the moment. This house was just so facinating to us that we had to see the inside. However, if the house reaches what it should cost, say 200k, maybe we'll reconsider!
Here in San Diego(EL Cajon to be specific)For sale signs are on almost every corner. The sign spinners have been advertising so many homes that the spinners have developed some amazing tricks. Like a throw-up-the sign, double spin/catch behind the back & flip it up so the traffic can read"Condos for sale"
I live in in-town Atlanta, in a very popular neighborhood, and there are plenty of houses that have been on the market for months, one I pass each day for over a year (must be way over priced). So things are way slow in a nhood that used to turn very quickly. Plenty of New Price signs too. They're also building tons of new condos. Who is going to live in these I don't know.
I live in the Ocean/Monmouth county area of NJ. More for sale signs than I've ever seen, and this weekend started to see the first "price reduced" signs. I saw three or four of them. It's starting.
You have a great website here, and I'm going to tell all my friends about it.
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