March 18, 2008

Can Real Estate Still Be Fun?

By Marcie Geffner - Inman News
Remember the good old days when home sales were off the charts? Prices were cut from their kite-strings? Open houses were packed with people -- or even cancelled because the sellers had received multiple better-than-asking offers the first day on the market?
Today, the harsh realities seem to pile on like linesmen after the quarterback has been sacked. Home sales have slid to new lows. Values have plummeted back to earth, and appraisals come in lower than asking prices. Mortgage defaults are up, short sales are back in vogue, and foreclosures are up too. Homeowners are walking away and sending jingle mail. Buyers are anxious. Sellers are angry. Legions of I-told-you-so renters are downright gleeful.
Read the rest of this story:
http://www.inman.com/opinion/guest-perspective/2008/03/18/can-real-estate-still-be-fun