The bright spot in all this is 20% of the homes in my criteria are now below the $200 a sq ft mark!
If this trend keeps up another couple weeks, looks like we are going to have to start doing some serious house shopping.......My hope is that this is just a temporary last gasp of buyers bullied/scared into a contract by their mortgage broker who told them to lock in their interest rate.
For all those following the 1053 Smith Way house....it still hasn't gone pending (after 2 weeks) at $161 a square foot!
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4 comments:
They going to kick you out of the gloom and doom club...
Oh sippn, we'd never kick average buyer out of the club...we know if she buys, she'll buy at a good price ;-0
Now, some stats to make you smile:
Current 4 county inventory: 17,361
Total Sales in last 30 days: 1,615
Total inventory: 10.7
# of Sales:
6/1/06 - 6/30/06 - 2,411
6/1/06 - 6/13/06 - 881
6/1/07 - 6/13/07 - 528
5/13/06 - 6/12/06 - 2,161
5/13/07 - 6/12/07 - 1,615
You know how us gloom and doom members need our daily dose of negative info!
There are a very few decent deals out there. Thank you for posting your research. While your prediction involves a tremendous price downward adjustment in real terms, that new price level would still be much higher than real prices of the late 90's and 2000. I think you are correct.
They going to kick you out of the gloom and doom club...
Sippn, didn't you get the Club Gloom&Doom™ secret decorder ring I sent you?
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