Comments on: Why Home Prices Must Fall http://www.manausa.com/home-prices-in-tallahassee/ All About Tallahassee Housing Fri, 19 Mar 2010 21:22:09 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Shadow Inventory In Real Estate http://www.manausa.com/home-prices-in-tallahassee/comment-page-1/#comment-31100 Shadow Inventory In Real Estate Thu, 26 Nov 2009 15:53:47 +0000 http://www.manausa.com/?p=7320#comment-31100 [...] he explained in his comment on the Tallahassee real estate blog, Jim [...] [...] he explained in his comment on the Tallahassee real estate blog, Jim [...]

]]> By: Joe Manausa, MBA http://www.manausa.com/home-prices-in-tallahassee/comment-page-1/#comment-31089 Joe Manausa, MBA Thu, 26 Nov 2009 12:36:11 +0000 http://www.manausa.com/?p=7320#comment-31089 Great points Jim and I agree about NAR (and FNMA) putting out sound bites on how great things are. There are some great buying opportunities now, but there are also some terrible traps, the key is to know which is which. It sounds like you do over in the Destin, FL real estate market. Thanks for commenting. Great points Jim and I agree about NAR (and FNMA) putting out sound bites on how great things are. There are some great buying opportunities now, but there are also some terrible traps, the key is to know which is which. It sounds like you do over in the Destin, FL real estate market. Thanks for commenting.

]]> By: Jim http://www.manausa.com/home-prices-in-tallahassee/comment-page-1/#comment-31035 Jim Thu, 26 Nov 2009 04:35:15 +0000 http://www.manausa.com/?p=7320#comment-31035 Hey Joe, One thing I'm not sure every thinks about is the stealth (my phrase) Inventory. I was showing homes to a customer 4 in a row in a sub division all built 2005-6. Everyone is upside down with their mortagage and they do not even realize it. the short sale that close a couple of weeks ago was 57 per square foot. You can't buy a lot and build a house for that. Until that whole neighborhood turns over it is going to have downward pressure. We are talking about hundred of homes within a small radius. I think the 1% bump was an aberration and mostly do the the 8000 first time home buyers program. The NAR is not helping with the smiley faces the keep putting on and giving out sound bits that are true but are not the correct story. Hey Joe,
One thing I’m not sure every thinks about is the stealth (my phrase) Inventory. I was showing homes to a customer 4 in a row in a sub division all built 2005-6. Everyone is upside down with their mortagage and they do not even realize it. the short sale that close a couple of weeks ago was 57 per square foot. You can’t buy a lot and build a house for that. Until that whole neighborhood turns over it is going to have downward pressure. We are talking about hundred of homes within a small radius. I think the 1% bump was an aberration and mostly do the the 8000 first time home buyers program.

The NAR is not helping with the smiley faces the keep putting on and giving out sound bits that are true but are not the correct story.

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