Quote:
Originally posted by Joeaksa
Houses are selling here but not at the expanded prices we saw last year. The value of my house almost tripled within six months and while its died down a bit its still at 2.5 times what I paid for it 5 years ago.
Good friend is a realtor. She is selling and buying but its just not as hot at it was. This market is too hot to die totally.
Joe A
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It died here, totally.
One of my builders started 40 new homes a month for years up until 6 months ago. Now they have started 3 houses in 6 months.
Another client, a title agent that does closings, usually closes about 20 houses a week. She has been closing 1 a week, if that, for the last 4 months.
Another builder that was on fire 6 months ago just closed down and moved away to North Carolina. (hint hint)
There have been several local news stories about builders going bankrupt already. Most likely building the last house with the next houses money then suddenly there was no next house. I have seen this too many times.
2 local pool companies bankrupt.
Local electrical company that services builders just layed off 40 employees.
I have concrete contractors calling me directly begging me to rush a job so he can give his crews something to do.
Its not dying here, its dead.