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July 29, 2008

BUBBLE HOUR: Slowest real estate sales since 1991 got you cheering or crying in your beer?

Bubblehour_beergoogles1Bubble watchers in Massachusetts, time to pull out the beer googles and celebrate today's headline in the Boston Globe about the slowest pace in real estate sales since 1991 with a Bubble Hour?

Sellers, does the same news have you crying in your beer, prepared to drop your price again, or tempted to drop your real estate agent (once your listing contract expires, of course) and try "for sale by owner" this Fall? 

If you're one of the 15,000 sellers across Massachusetts who's listing has already expired, been canceled, or temporarily withdrawn from the MLS during the past two months, The Real Estate Cafe is eager to talk to you about selling for sale by owner, or help you evaluate and select your next listing agent

We've just returned from LIVE BLOGGING the leading real estate technology conference in San Francisco, and are eager to demonstrate new money-saving tools and web sites. Do-it-yourself home buyers and sellers, would you like to see those demos in a small group or a personalized one-on-one presentation?  We're eager to take advance reservations for a "FSBO Cruise" in Boston Harbor aboard the Yacht Starship: $99 includes a private, one-on-one presentation of our "FSBO on Steroids" seminar plus a lunch buffet with four-star cuisine.

Sellers:  we don't see the housing bubble through rose-colored glasses, so if you are intimidated by selling "for sale by owner," The Real Estate Cafe can prepare a "Listing Agent Report Card" instead and try to negotiate a reduced commission.  If you pay in advance for our analysis, we'll rebate one-third of our referral fee.

Bill Wendel | 05:30 PM in Bubble Hour, Do-it-yourself, FSBO: Best Practices, FSBO: For Sale By Owner, Market trends, Real Estate Bubble, Savings & Rebates, Timing the market | Permalink

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I couldn't be happier. I have been waiting 10 years to get back into a house. I sold my house in 1994, thinking I would buy again soon after, but the prices skyrocketed. Finally, we are beginning to see prices come down to earth.

Posted by: Rhea | Jul 30, 2008 9:59:22 AM

Rhea,

Sounds like you sold after the housing market bottomed out during the last foreclosure cycle, and then missed the decade long surge in prices. I don't think we're going to see that kind of recovery / over-valuation cycle again for years, maybe never again in our lifetimes.

Have you seen this BusinessWeek headline? Bet you're glad you did not buy during the past few years!

Home Prices Hit Four-Year Low
The S&P/Case-Shiller index reports that in May, home prices plunged to 2004 price levels, wiping out four years of appreciation

http://tinyurl.com/5wawzp

Want to participate in a Bubble Hour, online or off? We can meet nearly anywhere, but families with young children might find http://TogetherInMotion.com in Arlington appealing because kids can play while the adults babble about the bubble. Your decade long perspective would be most welcome!

Thanks for your comments!

Posted by: RealEstateCafe | Jul 30, 2008 11:34:24 AM

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