Real Estate Slump

onthebay · 10-30-2006, 12:05 PM

Does anybody have any views good or bad regarding the real estate market on the lake? Any success stories or strategys to employ for selling.

We are getting close to finishing building our house on the lake and was hoping to have our townhouse sold (also on the lake) to help cover some of the cost.
It has been on the market since July and no takers. There are about 5 units in our complex for sale and the prices all have just dropped about 10% from where they started in the summer. Once one drops they all drop to keep up. Still there hasn't been any sold.
My view is that everyone is just waiting for the bottom to drop out so they can come in and cherrypick the bargains.
I will be selling my Mass house in the spring to move up to the lake full time. I hope things turn around and don't get as bad as the last big real estate "correction" in the 80's.

10-30-2006, 12:05 PM	#1
onthebay Senior Member Join Date: Sep 2005 Posts: 114 Thanks: 0 Thanked 3 Times in 2 Posts	Real Estate Slump Does anybody have any views good or bad regarding the real estate market on the lake? Any success stories or strategys to employ for selling. We are getting close to finishing building our house on the lake and was hoping to have our townhouse sold (also on the lake) to help cover some of the cost. It has been on the market since July and no takers. There are about 5 units in our complex for sale and the prices all have just dropped about 10% from where they started in the summer. Once one drops they all drop to keep up. Still there hasn't been any sold. My view is that everyone is just waiting for the bottom to drop out so they can come in and cherrypick the bargains. I will be selling my Mass house in the spring to move up to the lake full time. I hope things turn around and don't get as bad as the last big real estate "correction" in the 80's.