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flipping property - 8/25/2006 10:42:01 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
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http://business.guardian.co.uk/story/0,,1855956,00.html <-- prices went down 10% in one week in Shanghai.

i seen on cnn and fox the boom is over here in us- but it isnt quite a buyers market either,.

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RE: flipping property - 8/25/2006 12:42:26 PM

kisshou

Posts: 2425
Joined: 2/11/2005
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It is a buyers market where I live and getting better everyday. The higher they soar the further they fall.

(in reply to pahunkboy)

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RE: flipping property - 8/25/2006 2:56:35 PM

PlayfulOne

Posts: 1047
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Oh its a buyers market, all across the country. The sellers have been trying to pretend its not, hence no houses moving. Prices have to come down for anything to sell. Lets not forget the overly high prices combined with the inventive finacing people came up with so one could actually buy the over priced house has made a big kick in foreclosures. I see people who bought a house they couldn't afford (except by the creative financing) who now have adjustable rates increasing, balloons coming due, figuring out while they were only paying a rate of 1.5% their interest was accumilating at 6.5%, desperatedly trying to get out of their homes.

K

(in reply to kisshou)

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RE: flipping property - 8/25/2006 3:24:17 PM

SirKenin

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Joined: 10/31/2004
From: Barrie, ON Canada
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The market crashed here in Barrie. I would not want to be a real estate agent right about now. Houses are going up for sale all over the place, but nobody is buying them. Many of them are just sitting there vacant. "Price reduced" stickers are common place on for sale signs. Mortgage rates are in a decline. It is definitely a buyer's market, at least around here. Same goes for rental properties.

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RE: flipping property - 8/25/2006 3:29:24 PM

Lordandmaster

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It's not a buyer's market where I live. Buyers have their pick of properties--provided that they're willing to pay about 15% more for them than they would have had to pay last year. Things are selling more slowly than they used to, but they're still selling.

(in reply to pahunkboy)

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RE: flipping property - 8/25/2006 3:48:15 PM

Powerman40

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Joined: 7/11/2006
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quote:

ORIGINAL: Lordandmaster

It's not a buyer's market where I live. Buyers have their pick of properties--provided that they're willing to pay about 15% more for them than they would have had to pay last year. Things are selling more slowly than they used to, but they're still selling.

Same here.. Rediculous prices.. some up over 100% from a year ago.

(in reply to Lordandmaster)

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