Time to Cash in Your Real Estate Investments

Google Groups : alt.politics.bushLynn Edmonds and his wife, Sebnem, could barely wait to sign on the
dotted line back in May when they committed themselves to pay $796,000
for a three-floor townhouse under construction in Alexandria's Cameron
Station.


But since May, the sales prices for the development have fallen -- and
units like the one the Edmonds bought are now being sold for $699,900.
The Edmonds are facing the prospect of a $100,000 loss in value before
they even walk through the front door.


"We blithely stepped into the contract, thinking it would hold its value
-- but that's not the case," said Edmonds, 46, a program analyst and Air
Force veteran. "I feel so stupid putting myself into it. It's real
estate -- I knew on a theoretical basis that it might go up and it might
go down, but now I know it on a practical level."
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Housing Boom is Over

Google Groups : alt.politics.bush
Home construction sees biggest drop in months
October data evidence that rising mortgage rates are cooling housing boom
The Associated Press
Updated: 10:42 a.m. ET Nov. 17, 2005


WASHINGTON - Home construction in October plunged by the biggest amount
in seven months, providing dramatic evidence that rising mortgage rates
are beginning to dampen the housing boom.


The Commerce Department reported that construction of new homes and
apartments fell by 5.6 percent last month to a seasonally adjusted
annual rate of 2.01 million units.
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Forced Home Sales Surge

Dallas Morning News | News for Dallas, Texas | Business: "This year's home foreclosure postings in North Texas rose to their highest level since the Texas real estate bust of the 1980s, according to preliminary figures expected to be released today.
Foreclosure Listing Service Inc. cited lenient lending standards and the rising cost of living ? from higher gasoline prices to rising heating bills ? for the increase.
'The general cost of living is substantially more today than it was a year ago,' said George Roddy, president of the Addison-based firm. 'What you have to look at is how that affects people's ability to make "
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Numbers don't tell whole story

Beacon Journal | 11/20/2005 | Numbers don't tell whole story: "Real estate agents in Summit and Stark counties are about six weeks away from another sales record.
In both counties, annual sales of single-family homes and condos are on pace to be the highest ever.
Many of the agents aren't cheering, though.
Neither are some sellers.
``I know what the stats say, but it's not the real world that we live in,'' said agent Katie Fenwick, who has been licensed since 1989."
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