Builders Clawing Their Way back
Home builders have been out of the picture for the past couple of years. They could not match the outrageous prices banks were selling foreclosed properties for.
Recently we started getting some calls from builders trying to get back in the game. To compete with the banks they are trying “no-down” seller financing, special terms etc.
It [...]
Phoenix leads The Way Down
According to the New York Times (article by DAVID STREITFELD and JACK HEALY from 4/28/2009) Phoenix is the leader in housing price reduction since the peak.
Needless to say these are not bad news for real estate buyers. The article mentions how the low price levels are starting to reduce inventories.
As investors we hope for more [...]
Low Prices Lead to Bidding Wars in Some Markets
This is an article by JAMES R. HAGERTY of the Wall Street Journal from 4/23/2009.
As we have been discussing, the low prices are generating accelerated sales activity in some markets.
The prices are still not going up due to the consistent pressure from bank-owned inventory. However as more buyers’ interest is present, it signals that the window [...]
