ForumGarden

Last year around this time if you were a home seller (at least in this

area) you were entertaining multiple offers some even many thousands of

dollars over your asking price.



This year? Not only are the asking prices greatly reduced, but just

this morning I saw these offers from sellers:



Developer with several brand new homes for sale offering:

1. Free plasma tv

2. Pay closing costs

3. Mexico Cruise



Single family home:

Sellers paying first 6 MONTHS mortgage payments!



:eek:

Things are going to get pretty bad in my neck of the woods too. With several auto factories closing and jobs difficult to find, it seems to me like the houses available for sale are going to sky rocket.

What baffles me is that, with the economy what it is here, every time I turn around I see new subdivisions going up with high priced homes. On one road that I now drive down daily they just built 4 condo's with a selling price of $519,000!!! While I realize that lakefront property is desireable - half a million dollars for a condo seems a bit excessive to me.

:-5 Still hasn't happened here in San Diego I'm hoping it does. You have to make millions to buy a home in San Diego..

The only upside is that the seller should get an equally good deal when he/she <---(political correctness)turns around and makes their home purchase.

Yes, things are getting changed, Nomad you are right seller should get equally good deal when they turns around and makes their home purchase. I think that that will be very true, but at the same time bit tough.