A series of market reports on the fourth quarter of 2008 showed an abrupt decline in transactions, tottering prices and buyers who are still looking but unwilling to sign a contract.
Developers are establishing programs for buyers who need to sell.
Anyone can see that many properties aren’t selling, at least not at the prices sellers want. There are, however, strategies for making the most of this market.
The prices of existing single-family homes prices fell 9 percent in the third quarter compared with the period a year ago, weighed down by foreclosure sales, a trade group report showed.
An economic downturn may seem like a bad time to sell your own house. But believers in for-sale-by-owner, or FSBO (pronounced FIZZ-bo, for the uninitiated), say saving the broker’s fee is worth the effort.
Prices fell in many Manhattan neighborhoods in the third quarter. Areas that did not are likely to see prices fall in the fourth quarter.
If you’re selling, there is one certitude to cling to, at least if you believe brokers: Those needing to make a sale can’t afford to start out with a wishfully high asking price.
These days, no community is immune when it comes to foreclosures.
Luxury home prices were up in Nassau County for the first eight months of this year, in spite of the current turmoil in the financial markets.
Some builders say that even as Wall Street stumbles and most home buyers wring their hands, their customers have full pockets with lots of money to spend.
