Meanwhile, In Ho-Ho-Kus
snip...
[North Jersey real estate agents say that with more houses on the market, buyers are negotiating more aggressively, and many sellers have cut their asking prices.
"There have been a lot of price adjustments," said Robert Abbott of Abbott & Caserta Realtors in Ho-Ho-Kus. His office, in fact, is planning a "sale" Oct. 15 and 16. Sellers will be asked to lower their prices by 3 percent to 8 percent for two days only, to create a sense of urgency among buyers. The last time the office ran such a promotion was in the mid-1990s, Abbott said.]
Full article...
[North Jersey real estate agents say that with more houses on the market, buyers are negotiating more aggressively, and many sellers have cut their asking prices.
"There have been a lot of price adjustments," said Robert Abbott of Abbott & Caserta Realtors in Ho-Ho-Kus. His office, in fact, is planning a "sale" Oct. 15 and 16. Sellers will be asked to lower their prices by 3 percent to 8 percent for two days only, to create a sense of urgency among buyers. The last time the office ran such a promotion was in the mid-1990s, Abbott said.]
Full article...
posted by Little_Silvered at 9:41 PM
8 Comments:
Wow A WHOLE 8 PERCENT!
Limmited time only!
Sounds like a used car lot!!!
Face it, the price of a typical house has been inflated well into the high double digits!
Come down to reality and stop all the nonsense!
Party is over QUICK BUCKAROOS!
yeah, the realtors want lower prices so they can start making sales again. As if...
As if....what? The selling and buying of houses will never occur again?
Anon 8:34.
Did the previous poster say that there will NEVER be sales and purchases? No. What I inferred from his/her post is that realtors are in no way setting the market. What I inferred from your post? Well, let's just say that I don't relish questioning the reasoning ability of strangers...
you can finish that 'as if' comment several ways: 1) As if sellers or buyers really care what realtors want 2) As if 8% means squat in a grossly overpriced market 3) As if anyone needs a realtor to make a sale, etc, etc.
I have to laugh at people saying that this price decline will only last until next spring. A 150% run-up over the past five years and people expect only a 5-10% decline and then another run-up in prices? Get real. Sellers and realtors are still in serious denial. I think we are going to see the declines lasting as long as the run-up did and when it's all over a 25% decline from peak 2005 prices.But I guess this is an unbearable thought for all the greedy sellers out there.
Agreed. There's a good chance that a recession will start in '07. They can last for several quarters or even years. Look at the 2-yr and 10-yr bond prices. Big time inversion! A recession is looming. Who's gonna pay obnoxious prices for real estate when people are losing jobs?
GDP down to 2.6% growth. Headed to 0% or less??? That's not good for housing prices.
Post a Comment
<< Home