HW Skip Weldon -

Can't help you with a web site, but it might be helpful to point out
that there is a difference between "systemic risk" and "procedural
risk". The systemic risk has to do with the broad market movements (the
whole 'system'). The procedural risk has to do with the specifics of a
single transaction. (I think those are standard definitions, and
adequate, I hope.) A lot of people seem anxious about the real estate
market. However, someone who carefully analysed a purchase, and
compared possible outcomes under different scenarios, has improved
their chances of making a good single transaction.

If you are 26 years old and live where you buy for 10 years, you'll
probably ride out any downturn, even if you do end up kicking yourself
for paying too much at the time of purchase. Just make sure you have
all your numbers lined up - that's one thing you CAN be accurately
certain of. It goes without saying, to make sure you get what you want,
and will be happy with.

"HW \"Skip\" Weldon" <skip5700removethis[at]hotmail.com> wrote:

- quote -

I've seen several reports that the (regional) market is heating up due
to Katrina - I.E. DP's are buying rather than expecting to return home
in any reasonable timeframe.

This is also a downtime for home sales as folks are ramping up
spending for end-of-summer vacations and back-to-school expenses.

- quote -

I seriously doubt Katrina has anything to do with home sales at such a
distance.

D.
--
Touch-twice life. Eat. Drink. Laugh.

-Resolved: To be more temperate in my postings.
Oct 5th, 2004 JDL

HW "Skip" Weldon wrote:
- quote -



I don't know about SC, but the DC area housing market has been crazy
for years and the market is starting to soften in some places.

http://www.washingtonpost.com/wp-dyn...090201909.html
(free registration required)

Realistic Price Pays Off In a Cooling Market

"But many markets around the country display signs of imminent or
actual slowdowns, in part because of sheer affordability issues:
Household incomes are not keeping pace with housing inflation."

This trend started at least a month before Katrina, and while I can't
find the reference (so take this with a grain of salt), I remember
reading that the average number of days on the market had increased by
a day or two in the last few months. IIRC, that's common in late July
and August though, and may not be a sign of a real slump.


--
Jennifer

Within the last 10 days or so I've heard of spotty instances where
sellers are having trouble selling their homes. It got my attention
because previously this area (middle SC) has been very gung ho for
real estate - people bidding on homes, etc. It could just be the
south, and a temporary tie-in to Katrina, but not sure. Probably I'm
just jumpy.

Has anyone else noticed this RECENTLY, and is there a web site that
tracks how long homes are on the market by region?


-HW "Skip" Weldon
Columbia, SC