Look through the real estate ads, and almost every builder is offering incentives and price reductions.
Partial copy of bubbleinfo.com posting about Bressi Ranch. So be aware of builders who sold at a disount, but left the home in pending status, so the real sale price does not show up on the MLS.
Bressi Ranch Update
“Today’s check of the MLS shows twelve pending listings in Bressi listed by the builder. Every one of them have already closed escrow, but they still show pending. Why? Do they have something to hide?
Here’s how they turned out (add the 000s)
List Price/ Sold Price Date Closed
690 630 6/20
721 615 5/26
739 649 5/26.”
Go to his website to see more pricing.
My friend has several buyers who are sitting still until fall. They want to wait for the sellers to really crack. Look, last year we had 1 buyer for every seller, and today, 1 buyer for every 8 sellers. Who will blink first? The sellers. Be patient.
By the way, inventory started climbing in the summer of 04. In April 04, we had 3,000 homes, in summer 6000, and by fall, 12,000. Can someone correct me if I’m wrong. So the market started weakening in the summer of 04.
