Quote:
Originally Posted by Craig Vernon
The most fascinating thing about these real estate posts is that most people who are retired, live and stay in the same home they purchased are just fine, happy and could care less to all the noise. If you are a flipper, reseller, investor or agent you fight kick and scream to convince buyers or renters that the market is just fine. On with the show...
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All the investors I know have pulled out. I am a flipper and stated several times I am currently renting. Will do so until the market stabilizes. I believe it is homeowners who are not seeing price reductions. Some do not want to believe their home is not worth as much as they anticipate. They also do not believe available preowned homes are sitting MUCH LONGER. Or currently, some homes are not selling no matter the large price reductions. Many look at the Developer's sales and construe this means good news for them. What the Developer earns is his to keep. It doesn't flow from pocket to pocket. Right now, he has chosen to reduce prices to keep his wheels moving. As some have noted, the finishes in the new homes are lesser quality. The developer is tightening his strings.