Bad Blogger

by Alex Stenback on October 26, 2006

Just when so many real estate blogs are getting better and better, we seem to keep backsliding.  But fear not, we’ll be back, we just happen to have a pile of both personal and professional obligations (all good, by the way) to sort through.

Bear with us.

{ 7 comments… read them below or add one }

Dan Green October 26, 2006 at 3:16 pm

Being a great blogger means never having to say you’re sorry.

Awaiting your big return…!

Teresa Boardman October 27, 2006 at 9:32 am

Great headline! Got my attention. Thought I got caught doing something bad again on St. Paul RE. Hear what you are saying. yesterday i thought I would try selling a house and when I was finished I came home to a mess of emails and blog comments.

chris October 28, 2006 at 4:16 pm

u caught me just as i was going to delete this bookmark!

Mister Bear November 1, 2006 at 4:34 pm

BEAR with us indeed. The real estate market is in a very bear mood. Or is that mode?

Chuck November 3, 2006 at 9:58 am

Bear? Bust!

http://www.minyanville.com/articles/index.php?a=11556

At a semiannual housing forecast conference last week in Washington, D.C., economists said that contract-cancellation rates for big builders were running around 40% — about twice as high as last year’s levels, the Wall Street Journal reported.

* Some of the cancellations are by people who signed new-home contracts at one price months ago, haven’t yet closed, and are now stunned to see the builder drastically cutting prices on identical properties, the Journal said.

* And some are by people trapped in a chain reaction: They can’t sell their old home — or the buyer has canceled the contract — so they are being forced to cancel the deal on a new house they are buying somewhere else.

* D.R. Horton (DHI) says its cancellation rate is currently 40%, compared with 29% a year ago.

* Meritage Homes (MTH) is reporting a 37% kickout rate, compared with 21% a year ago.

* Standard Pacific (SPF) says that 50% of its contracts fell through in the third quarter of this year, compared with 18% for the same period last year.

* Well, that’s just new homes. At least cancellations for existing homes aren’t up because that would mean the housing market may be seeping into other areas of the economy.

* Oops. In September nearly half of the 454 agents responding to an online NAR survey said they had recently experienced cancellation rates higher than the historic 2% range.

* Which just proves the old saying: If they’re not buying when you’re selling, a cardboard box will be your dwelling. (Cf. You can buy more real estate in a day than you can sell in a lifetime.)

Steven James November 10, 2006 at 12:04 am

Hey, i’ve been reading your articles and find them very interesting. I really think you offer good content on your blog.

Awaiting your return !!

Steven James.

sam November 12, 2006 at 4:26 pm

awaiting your return!

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