R.E is really smokin' down here with all the foreclosures and builders dropping prices. 15% of all listings are still reducing their price as price is getting overdone on the downside because of the amount of inventory that is still out there. The amount of inventory is reducing, the first stage will be the consumption of affordable housing. Once that is gone the next price level will sell. The secret is to get rid of the vacant homes so the people can buy up. Most of the homes I am selling or writing contracts on are bank owned or new homes like KB who is giving the Nehemiah Program, where is no money down, no closing costs for the buyers. Basically they are contributing to 10K to the buyers. So once the retail home prices meet demand..... bamm.... be going crazy busy at that point..within 10% right now.
Bubbles.... Oil, there is plenty of energy out there, we need to have congress re-think their stupid ways or vote them out. All we need is someone with some back bone. I am thinking of getting a new SUV, if the prices are low enough. Mine has 40K on it, so will let you know, if they are really lowering prices or this is just more hype.... lies everywhere, LOL........
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