Tuesday, August 22, 2006

Internet Vs. Housing

Here is the full story behind the graphic, which is from Marketwatch.com.


Blogger njcoast said...

Bids are starting to trickle in for Dwek's Monmouth County residential properties. Like the commercial properties that just sold at auction these are the "cream of the crop" of his properties that are being bid exclusively by members of the Syrian community. Since these bids have to be submitted to the court and made public unlike regular properties for sale, they might be indicative of low ball offers that are coming in on this area's properties.

400 Runyan Ave
Last sale-2005-$2,250,000
MLS price-Orig. $3.499mil
reduced-$3.299 mil
Bids- $1,500,000

104 Crosby Ave
Last sale-2005-$2,000,000
MLS price-$1,800,000

9 Roseld Ave- Deal
Last sale-2005-$860,000
MLS price-Orig.$1,049,000
Bids- $540,000

1 Milwin Ct
Last sale-2005-$1,225,000
MLS price-orig. $1,599,000
Bid- $1,100,000

Wednesday, August 23, 2006 10:00:00 AM  
Anonymous Anonymous said...

Yea...those are deal area properties, but i dont think out of the area are going to fair so well....

Wednesday, August 23, 2006 2:40:00 PM  
Anonymous Anonymous said...

"The parallels are uncanny - and scary. Insofar as the analogy holds, housing stocks right now are still early in a bear market that will eventually cause them on average to lose more than 90% of the values they held before the bubble burst."

If current inventory does not get absorbed, then why would anyone buy a home builder stock?

Interesting to note, home prices will fall in some areas BECAUSE of the downturn in home builder stocks. Home builders will build on land that has the potential to turn a profit because if they aren't building why do they exist? They will then have to compress prices to move the inventory.

This will only happen where the land is in an area that might support new home sales.

I suspect you won't see share appreciation, until you see a leveling off and susbsequent rise in new home and existing home prices.

Mr. Rant

Thursday, August 24, 2006 9:52:00 AM  

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