We're starting to see hundreds of price reductions a day.
I could look at sales six months ago and they're at one level, but this year there might be 28 homes on the market, none pending, and one closed sale in the last six months.
We did see a drop-off in buyer volume.
Probably in the last six months I've seen more 100% financing deals than I've seen in the last two to three years.
There had been some pent up demand that seems to have entered the market. I think people saw a respite in the market and decided to make a jump.
Because we have more inventory right now prices are starting to come down. The market is re-balancing itself. It was out of balance there for a while and we had too many buyers and not enough inventory and now it's the other way around.
Should you need to sell the home within a year or two there is not a lot of equity there.
Some of them are $40,000, and they've been sitting there for 120 days.
Gateway is still a solid market. Homes are actually selling well.
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