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Wednesday, September 13th 2006

2:27 PM

Why Aren't Home Sales Prices Falling? Marathon Sellers.

  • Weather Clearwater, FL 84.0 °F / 28.9 °C at 2:32 PM ET
"...A new species of real estate owner has begun to emerge: the marathon seller. Maybe you have them in your community, owners who believe in real estate exceptionalism, the idea that their homes are growing in value while real estate prices all around are stalled or falling.

These owners truly believe that somehow their property is unique and different, a home so wonderful that general sales trends are irrelevant

Compared with last August, in my area we have evolved from a strong seller's market to something which has more balance. Prices are up a touch, but not up insanely. Days on the market have doubled, unit sales are down 20 percent and instead of paying premiums, some buyers are getting "seller contributions" at closing...."

Read the article by Peter G. Miller at: RealtyTimes.
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