[perrjojo]

Originally Posted by eweissenbach

I agree with most of your statement rubi, but the greedy question doesn't resonate with me. The Morses may be greedy, I can't see inside their souls, so I cannot know. However, when it comes to real estate I can't see the use of the word greedy as relevant. Real estate is probably the most pure economic transaction anyone can make. The value of real estate depends totally on what the market will bear, what a willing buyer will pay a willing seller. I can't blame the developers for ASKING whatever they believe they can get for their property, and if willing buyers can't be found in a reasonable timeframe, they will have to discount or otherwise incentivize. There is no question they have hit upon a successful formula as their prices and the demand, dropped far less during the downturn than almost any other place in the country. I still am astounded that in either 2010 or 2011 they sold ONE PERCENT of the new homes sold in the ENTIRE COUNTRY.

Originally Posted by perrjojo

I'm sure this is a factor as well as there are fewer coming to TV in the summer months. The daily Sun publishes a section 2 or 3 times a week listing homes for sale. On the back page there is a count of homes sold in the past 12 months. In May I noticed the numbers dropping so I started charting it. (Why? beats me...lol)

May 8th
5,236. Total
3,183. New
2053. Pre owned

June 21
5,123
3,104
2,019

July 31
5,071
3,006
2,065

This may be a normal summer trend. I don't know as I have never tracked the data in previous years. It will be interesting to watch.

I agree. The supply has gone up and at the current time the demand is down; therefore we are seeing discounts on existing homes. Greed will not drve a market unless there are willing buyers. We retirees are usually too smart to be duped.