Yea-3* this morning but at least the sun is out.
32 foreclosures compared to 13 a year ago
141 million in sales in March of 2007 which was a record
8 million in sales the week of 3/17 to 3/23 2008
14 million in sales the week of 4/17 to 4/23 2008
Today's real estate sales for the week of 3/25 to 3/31 is 1 million
This from the Vail valley our neighbors to the south. Sales tax down 16% compared to last year and up to 30% in some areas. Real estate transfer taxes down 67%.
All I can say is you're a bunch of greedy fuckers. Real estate agents and appraisers artificially inflating property values in such a way the prices of property here jumped so dramatically in such a short time there was no way in hell this could be sustained nor were these increases warranted in any way. Look what the hell we have now and that's the proof most of them were whores of the biggest magnitude.
I get tired of hearing the same old one liner. "Oh the market always comes back". Not this time you fucking crooks. You done did fucked yourself this time with your unethical practices you consider good business. The sellers are guilty as hell too with dollar signs rolling in their eyes like a slot machine at the thought of even more money for their property they knew full well was not worth that much.
Greedy unscrupulous sonsofbitches is what all of you are.
yup, greed is what did it.
ReplyDeleteBecause of the greed that permeated the market for so long, values have tanked making it even harder for us honest folks to be able to refinance.
ReplyDeleteDo you really expect developers,agents,etc to have a conscience or follow the laws when our courts, pols and most citizens have situational ethics issues when it comes to money? The problem lies not in the stars,my friend, but in ourselves. We all should reflect on our own attitudes when it comes to money!!
ReplyDeleteFrom your descriptions, Vail sounds like it became a very elective real estate market - second homes, vacation homes, that sort of thing. There was bound to be a hefty drop in price. Real estate markets have been deflating around here in the Pacific NW, but not nearly as much.
ReplyDeleteA while back there was a figure and I think this is correct that 64% of the homes here are lived in three months of the year.
ReplyDeletePrices may have dropped a wee bit but are still very high. Some construction projects have stopped.
We'll see.