[az2fla]

Hello Darbyduff,

I, too, lived in Colorado (south of Denver) between 1988 and 2004. Such a beautiful place that it amazes me that the housing market is always in turmoil there. It seems that when the National housing market is slow the Colorado market is even slower; and when things are up sharply Nationally the Colorado market is not as robust.

The risks in the credit market nationally are far from contained, I fear. It will become harder for folk to receive new loans for housing. New home builders across the nation are now discounting their inventory more than 10% below the average price of a similar existing home. History shows that the reverse is usually the case. Thus, it may be assumed that existing home resale prices need to be adjusted downward another 15% to 20% on average. Of course, every home situation is unique.

I don't think it's advantageous to try to catch a falling knife. Many people price their homes at what THEY think it's worth and not what the market will pay for it. In the end, they're usually pricing their homes just a little too high and keep reducing as the market, itself, reduces. 2007 prices aren't what 2005 prices were and 2008 prices may not be at the same level as this year. We will be placing our home in Arizona onto the MLS next month. We're willing to list below the comps in order to generate some quick interest. An additional incentive for the buyer's agent is something to consider, too. Resales in The Villages will need to adjust, as well. I'm not a Realtor nor is anyone in my family in that profession; but, I know that market forces dictate price. Roses are more expensive in February around St. Valentine's Day than they are in July around the Independence Day. Good luck in selling your Colorado home but, as I found out in Arizona, you're going to miss that great place. "'tis a privilege to live in Colorado".