How's the housing bubble doing in your area?

[BlueStateBlue]

Here in northern NJ, the "for sale" signs are popping up all over the place, and nothing seems to be moving. Asking prices seem to be coming down a bit, although I still think they're overvalued by about double.

It ought to get interesting very soon, when all the adjustable rate mortgages adjust...up.

[NMDemDist2]

1. my next door neighbor sold his in a DAY! but he was about $20K under

priced according to his realtor

[madrchsod]

2. northern illinois

outside of the major urban areas housing is softening in prices , construction, and in counties foreclosures are increasing. it`s not a good time to sell so when i have more money i`m investing in more energy efficiency instead of selling

[shanti]

3. same here

in sacramento. the market is definitely making a downturn now.

[GrumpyGreg]

4. Same here in eastern Mass.

[fed-up]

5. Neighbor listed at $429K in Dec-reduced to $389K in Jan-sold $385K last

month, closed in Feb with one month for escrow before showing up in the paper as sold. (3/2 half acre) From an online search I found that he purchased the house in 2003 for $199K and did some remodeling, granite counters, roof, paint, doublepane windows etc. I think he started a little high and since he was moving to Hawaii he wanted it sold quickly. Prices seem to have increased only 10% this past year compared with 20-25% increases before that.


I will see what happens with my other neighbor's house when he relists it next month. He had it listed for $389K for almost a year, but with a carpy realtor who didn't show it much. The few people that came through complained about the lack of central heat and doublepane windows.
Most of the houses here were built in the 1950's-60's without thoughts of an energy crisis.

I am in a canyon and about 10 miles from town.

Houses for sale in town seem to be popping up all over, and seem to be sitting for 3-5 months.

Looks like a lot of people are playing the wait and see game.

We should do okay for the next year or two as people from the overpriced Bay Area cash out their investment profits and move to cheaper areas here in northern California. Then I expect prices to drop as Bush totally kills our economy.

We are a college town, so lower end houses always sell, but it looks like families may have to move with their students if prices go any higher.

[tinfoilinfor2005]

6. Prices still soaring here in the Florida Keys.

Dont' see any slow down yet.

[SheilaT]

7. I'm in Overland Park, Ks,

and we haven't really had a housing bubble here. Prices have risen over the years, but at a quite reasonable rate, and it's one of the most affordable areas in the country. In my particular neighborhood houses tend to sell in 30 days or less, because the local elementary school is highly desirable, and feeds into a good middle school and high school. Plus, for the Catholics out there, I'm right around the corner from a Catholic k-8 school.

[FloridaPat]

8. Central Florida - what housing bubble?

[DesertRat]

9. Still very strong here

in Scottsdale, AZ