Business

These Are the Cities Where Homes Stay on the Market the Longest

The number of homes listed for sale in the largest cities in the country has fallen 20 percent in the past year, according to a report released last week by Realtor.com. While the number of homes on the market has dropped around the country, the average number of days that listed homes have been on the market has remained the same: 107 days. The good folks at 24/7 Wall St. have identified some of the cities where homes are on the market for the longest time.

When it comes to the housing crisis, foreclosures and home prices often dominate the headlines. Other information, however, is just as important to a complete understanding of the crisis. Chief among these are the amount of time homes are on the market and whether the total inventory of available homes has changed.

These are better indications of supply and demand than any other data.

Wilmington, N.C.,  for instance, has houses remaining on the market for 164 days. Now compare that to Detroit where the number is only 65 days. Wilmington’s figure is not necessarily a bad sign. A city where listed homes have been on the market for a long period may be one where many home owners still believe there is a chance they can make a sale. Detroit’s figure is probably low because people are no longer listing their homes for sale due to a lengthy and depressed housing market.

(Read a related article on the subject titled “Gloom Grips Consumers, and It May Be About Home Prices”)

The figure that often coincides closely with high number of days on market is foreclosures. In the cities where homes are on the market for the longest period, foreclosures were at–or well above–the national average. Obviously, people trying to sell their homes will keep them on the market as long as they can. Eventually, particularly in cities with many days on the market, the ability of these home owners to pay their mortgage runs out.

Another reason that homes in many of these cities have been on the market for so long is that they are among those that had rapid population growth between 1990 and 2010. This caused a rapid expansion of inventory. The cities became overbuilt as the housing crisis began to drive up foreclosures, particularly among homes with subprime mortgages.

Notable among the cities that added large numbers of people are Tallahassee. The population of the Florida state capital rose over 20 percent from 1990 to 2000 and another 20 percent from 2000 to 2010, according to the Census Bureau. West Palm Beach grew even more rapidly over the same 20 years. Gainesville grew by 30 percent from 2000 to 2010. Florida, which has several cities on this list, has the second highest foreclosure rate of any state, trailing only Nevada, according to RealtyTrac. Florida’s population rose by approximately 30 percent each decade from 1970 through 2010.

The most obvious sign that the housing market has begun to recover will be when prices begin to rise and foreclosures abate. But there will be other signals. Days on market for homes may actually rise for some period nationwide. Homeowners seeing a market recovery will put their homes on the market. Consequently, inventory will rise. The real test of a recovery will be how quickly this increased inventory eventually will fall.

In order to identify the cities where homes stay on the market the longest, 24/7 Wall St. looked at pricing and listing data provided by Realtor.com. For these cities, they identified whether the number of homes available increased or decreased, as well as how much prices have changed during that period. They also included the most recent foreclosure rates provided by Realtytrac, and compared those to the national average.

Here are some of the cities where selling a home has become extraordinarily difficult:

Good Luck Selling a Home in These CitiesTallahassee, Fla.
Time on market: 137 days
Change in # of listings: -20.32 percent (53rd largest)
Median list price: $159,900 (104th highest)
Foreclosure rate: 1 in every 747 homes

The number of homes on the market has decreased more than 20 percent in Tallahassee over the past year. Despite the drop in supply, home prices have only increased slightly, with the median list price increasing 3.5 percent in the same period.

The city saw a huge spike in loan defaults recently. In August, defaults increased 81 percent from the month before. According to the Tallahassee Democrat, this is causing the foreclosure rate to increase.

Good Luck Selling a Home in These CitiesWest Palm Beach-Boca Raton, Fla.
Time on market: 138 days
Change in # of listings: -26.47 percent (28th largest)
Median list price: $209,500 (49th highest)
Foreclosure rate: 1 in 238

In September, the West Palm Beach region had more listings than all but a handful of major U.S. cities. However, that number is actually down more than 26 percent from a year ago. The median home listing price has shot up more than 10 percent since September 2010, the 11th greatest increase among the 146 cities reviewed in the report.

According to Alex Ferreras of the Palm Beach Post, banks are cutting down significantly on the number of homes they foreclose in the region. In 2010, the foreclosure rate of 1 in 238 was one of the highest in the U.S.

Good Luck Selling a Home in These CitiesAsheville, N.C.
Time on market: 140 days
Change in # of listings: -15.88 percent (77th largest)
Median list price: $250,000 (29th highest)
Foreclosure rate: 1 in every 3,907 homes

Asheville is located in the Appalachian mountains and is regularly listed has a top vacation destination by travel magazines. The region has one of the highest median home list prices in the country, at $250,000. The Asheville region had an extremely low foreclosure rate of 1 in 3,907 last year compared to 1 in 605 in the U.S.

Good Luck Selling a Home in These CitiesPunta Gorda, Fla.
Time on market: 142 days
Change in # of listings: -30.77 percent (17th largest)
Median list price: $169,900 (87th highest)
Foreclosure rate: 1 in every 366 homes

Punta Gorda is one of several Florida cities where home values have fallen more than national average. According to housing experts, most of this is due to overbuilding before the housing market collapsed. Punta Gorda is located on Florida’s west coast between larger cities with significant housing problems — Tampa/St Petersburg and Naples.

Home ownership in Punta Gorda is high, among the top ten cities in the U.S. This may be due to in part to the inability of people to sell their homes.

Good Luck Selling a Home in These CitiesSavannah, Ga.
Time on market: 147 days
Change in # of listings: -35.66 percent (11th largest)
Median list price: $199,900 (51st highest)
Foreclosure rate: 1 in every 541 homes

Savannah has seen one of the largest decreases in home listings in the country, with a drop of more than 35 percent in one year. Despite the drop in inventory, home prices declined by 5.19 percent over this same period.

There are currently only 1,484 listings in the city. The median time on the market for these listings has fallen more than 50 percent in the past year. This is the greatest drop in the country.

Good Luck Selling a Home in These CitiesReading, Pa.
Time on market: 147 days
Change in # of listings: -11.95 percent (100th largest)
Median list price: $184,900 (69th)
Foreclosure rate: 1 in every 771 homes

Reading is in the old industrial section of Pennsylvania, which runs between Allentown and Harrisburg. The city has nearly 90,000 residents and is among the poorest cities in the U.S. median income for the city is only $28,098.

Reading topped the list of cities with more than 65,000 people with the highest proportion of residents living in poverty, according to the New York Times, a fact that will continue to hurt Reading’s housing market for the foreseeable future.

Good Luck Selling a Home in These CitiesGainesville, Fla.
Time on market: 150 days
Change in # of listings: -20.36 percent (53rd largest)
Median list price: $164,900 (96th highest)
Foreclosure rate: 1 in every 935 homes

Like many cities in Florida, Gainesville has a large condo market. The Gainesville Sun reported that in August “condo sales were up 13 percent, with 51 sold in August.” That gain was almost certainly due to favorable prices.

Condo median prices dropped 13 percent to $69,400 from $79,500, according to the paper. It may take years for the Gainseville real estate market to recover. It is inland from one of the hardest hit regions in the U.S. — Florida’s Atlantic coast, which includes cities where home prices are down more than the rest of the country.

See Some Of The Other Cities That Made The List Here

(Douglas A. McIntyre, Charles Stockdale, Michael B. Sauter/Becket Adams–24/7 Wall St./The Blaze)

Comments (57)

1 2
  • gemmeri
    Posted on October 20, 2011 at 4:29pm

    Statistics were made to be manipulated. A lot of homes are tied up in “foreclosure” which has become a catch phrase for “twilight zone” or “gray area” . Maybe these stats don’t include bank-owned repos. Homes are not selling because the market is still over inflated & people still don’t have any loose cash. In our area, commercial buildings are selling… to doctors & attorneys. They are moving out of the medical & professional complexes & creating their own. One former ADA told me the money is in family law because people are having to file for bankruptcies & then they are filing for divorces. The whole thing makes me ill. This country is breaking itself apart… & over what??? A stupid dark-skinned man who cannot tell the difference between a healthy economy & a doomed one. But that never was his goal, you jerks. He & his cronies are lining their own pockets. Just as fast as they can. What do they care if the rest of us are living on the edge or under bridges or eating Top Ramen as a mainstay. The government is out of control & the population is finally suffering the results, because people are losing their primary residences. You know, shelter? Everyone needs to read the Constitution again… & then read it again. And then decide, is this government doing its job to uphold the basis for our nation? And then move on to the Bill of Rights… And then ask yourselves the same question. Government is not supposed to take an oath to uphold something & then tear it down.

    Report Post »  
  • PApeacemaker
    Posted on October 20, 2011 at 3:25pm

    I live about 2 hours away from Reading, PA that place is a crap hole through & through. The past decade our local newspaper ran articles saying how local kids make the 2 hour drive there to buy cheap heroin & cocaine & then come back to the rural area I live in & sell it for 3 times what they bought it for. Needless to say a lot of kids I knew in high school are either junkies or locked up in State prison due to crimes that committed trying to get money for heroin or selling heroin to get quick easy money. Reading is almost all spanish & black people theres very few white people there anymore. You drive down through the city & you see cars up on cinder blocks, boarded up windows & minorities selling drugs on every corner & very few cops & even if they do arrest them it does very little. That city is a lost city the sad thing is it used to be a beautiful place to live in the 1950′s & 60′s cuz my moms dad grew up there & she always used to tell me about it.

    Report Post » PApeacemaker  
  • shellback2112
    Posted on October 20, 2011 at 2:50pm

    Oklahoma has the least expensive cost of living. Oklahoma CIty and Tulsa are very nice. If you are a conservative with a good work history, then come and see us. If you are an illegal alien or a Wall Street Protester, then stay where you are.

    Report Post » shellback2112  
  • Drakkhanlord
    Posted on October 20, 2011 at 2:31pm

    veterandefenders.org

    11 /11/ 11

    Veteran Groups and Patriots are Gathering in Washington to demand a Return to Constitutional Republic…
    Rolling Thunder will be there to Honor the Vets and Mia’s /Pow’s …@400,000 Strong

    Join US and Save your Country…

    Report Post » Drakkhanlord  
  • Drakkhanlord
    Posted on October 20, 2011 at 2:29pm

    /veterandefenders.org

    11 /11/ 11

    Veteran Groups and Patriots are Gathering in Washington to demand a Return to Constitutional Republic…
    Rolling Thunder will be there to Honor the Vets and Mia’s /Pow’s …@400,000 Strong

    Join US and Save your Country…

    Report Post » Drakkhanlord  
  • brian8793
    Posted on October 20, 2011 at 2:16pm

    I don’t understand why anybody would live in Florida anyways. What a heck-hole that place is.

    Report Post » brian8793  
  • OklahomaBound
    Posted on October 20, 2011 at 1:38pm

    I sold my house in Western Washington state in Aug 2010, it was a beautiful 2006 home with 2.333sq/ft on a corner lot in a nice new neighborhood with a mountain view. My original list price was $480,000, I sold it 1year-9months later for $325,000 and I was an 8-year experienced real estate agent at the time. That really hurt, so now I live in 1926, 1056sq/ft home that was banked owned in Oklahoma City, OK. I rehabbed it on my own for $6,000 and bought it for $35,000 cash so I have only $41K into it and it is much much nicer now (New kitchen, new bathroom, crown molding, wainscotting, etc) and it is valued at $70K. A house 14 homes down from me (100sq/ft bigger than mine, same quality and condition) recently sold for about $98/sq/ft which would make mne worth $104K if it sold at the same rate. Regardless I see my house selling for at least $80K when I do sell, but for now I’m happy being completely debt free, it is very liberating knowing I have no debt and that my cost of living is so low that I could live for the next 4-5 years without a job if I had to (don’t plan to). Obama’s depression hurt me, but he didn‘t destroy me so I’ll return the favor by putting him out of a job next year.

    Report Post » OklahomaBound  
    • shellback2112
      Posted on October 20, 2011 at 2:47pm

      I, too, live in the OKC area. Oklahoma is a grand place to be right now. I recently read that Oklahoma is the least expensive state to live in. Texas is second. Interestingly, these are both conservative states. Boomer Sooner!

      Report Post » shellback2112  
  • CatB
    Posted on October 20, 2011 at 12:49pm

    A few years ago .. PUNTA GORDA FLORIDA was number 1 place in the country to live .. now this .. Obama has done a H E L L of a job!

    TEA!

    Report Post »  
    • DanWesson455
      Posted on October 20, 2011 at 1:17pm

      Some of these areas are seeing the properties gain value or leave the market due to all the European’s and S. American’s buying everything up. Some retired Norwegian can spend the winter on Daytona Beach then go home in the Spring. Nice deal.

      Report Post » DanWesson455  
  • Guitar Master
    Posted on October 20, 2011 at 12:23pm

    zzzzzzzzzzzzzzzzzzzzzzzz
    The REPORTER Speaks
    zzzzzzzzzzzzzzzzzzzzzzzz

    The Golden Rule of sales is that any product, no matter what it is, will sell when it is priced right and that includes houses. The problem is that 99% of home-owners (including banks) refuse to face reality and continue to maintain inflated prices.

    The open market always sets the price of any product. If you have your home on the market for a long time it’s your fault. A home will sell quickly when it’s price is commensurate with market valuations.

    Real Estate agents are primarily responsible for the problem since they continually recommend selling prices that are higher than the true market value. There couldn’t be a profit motive involved could there?

    SUGGESTION: Go to Zillow.com before listing your property. You will find the ZESTIMATE price of your property (type in your address first you ninny). This Zestimate price accurately represents the actual true market value of your property. You may not like what you see but not many like to face reality.

    The banks are living in a dreamworld. They are so profit oriented our housing market will be held down for years because of these gangster profiteers !!

    Now go do your homework if you want to sell your property you moron’s you. You can afford to leave your Oprah show and pizza for 1 hr. can’t you? Go to Zillow.com.

     
    • Anonymous T. Irrelevant
      Posted on October 20, 2011 at 1:10pm

      Sure, enter your address/information and have a million realtors call you or send you letters and emails.

      Report Post » Anonymous T. Irrelevant  
    • carl_in_ohio
      Posted on October 20, 2011 at 1:18pm

      try to refrain from calling us “morons”.
      You’re right, anything will sell when priced right.
      Selling a house for a fraction of its worth is easy (any moron can sell a $100,000 home for $30,000)

      Report Post »  
    • fflsuun
      Posted on October 20, 2011 at 5:48pm

      You are absolutely right that a home priced right will sell. Every market is different, and every Realtor is different as well. Zillow is a great tool for many reasons, and is a great starting point, but I would not rely on Zillow for an accurate value estimate. People are generally smart when it comes to coming up with an accurate value, or listening to advice from a Realtor (At least me anyway), but there are some that will actually argue that (I’ve lived in this house since I was a kid and it means so much to me… ) It does me no good to list a property for a few dollars more that won’t sell, so there is no profit motive there. If you don’t price your property right, that your Realtor should tell you and not take an overpriced listing! Here in the Atlanta area, the market is strong, but a property listed for 1.2 yesterday sold for 575. Unbelievable. If you’re having trouble selling and can afford it, try taking a lease option purchase for your home. It should sell right away, you can lock in the price now, and you can usually get enough up front to make it worth it even if it falls through. Just fyi..

      Report Post » fflsuun  
    • balancebound
      Posted on October 21, 2011 at 12:17am

      Zillow is a great tool I agree, but don’t read the Zestimates as a true representation of the value of the property. Many of them are far from correct and if you look at the Zestimate history the value of many of the homes can go up and down by hundreds of thousands of dollars each month. Also the mapping of the homes is hit and miss so map it on another site to make sure it is even the right home.

      Just be cautious and do a lot of research and market comparisons before deciding the price to buy or sell.

      But these guys are right realtors are 100% motivated by their comission so do your research on them as well.

      Report Post »  
  • Bill Wallace
    Posted on October 20, 2011 at 11:55am

    The numbers are based on fallacies and lies.

    Not every place keeps a home for sale “on the market”. They will take down the listings, etc. Remove it. They do not want a situation where a person goes onto zillow or a realtor website and sees that it has been for sale for 187 weeks.

    I have houses in my neighborhood that have been for sale for 4 years. They get put up on the market for 3-4 months and if no bites, they get removed. Otherwise people will know the house isn’t selling and will do lowball offers.

    It is all a game and gimmick.

    Report Post »  
    • superman
      Posted on October 20, 2011 at 10:08pm

      its all by design. Think about it. The one major item middle America has equity in, the one main item middle America has of substance, of value, equal to there savings account, is devaluing. Mean while all our necessities are going up in price. Inflating monthly. Food, clothing, energy. How can an economy work in this order? Answer: By design. He are being played. By both sides.

      Report Post » superman  
  • piper60
    Posted on October 20, 2011 at 11:43am

    Reading, Pa made the list. I am not surprised. I used to live near there. 45% drop out rate for the public schools, so there you go.

    Report Post » piper60  
    • Walkabout
      Posted on October 20, 2011 at 1:05pm

      Schools, Crime, & taxes are the main 3 things most people look at. then comes proximity to job & other quality of life indicators.

      It is not that hard to keep a city vibrant with a non-declining population unless you are a Democrat!

      Report Post »  
    • DanWesson455
      Posted on October 20, 2011 at 1:19pm

      Buffalo NY isn‘t on the list cause we all know you can’t sell therefore you can’t leave. Who wants to come here!

      Report Post » DanWesson455  
  • RodT82721
    Posted on October 20, 2011 at 11:00am

    I don’t understand why everyone wants to sell their homes. Are they going to Wall street and live in the street? Do people think that if they can sell their house for a profit they can buy one for a lot less? What’s going here?

    How many people under water were going to get rich flipping their homes? Sorry, Barny & Chris put the screws to you so their banker friends could reap the real profits! Now go blame someone for you stupidity.

    Report Post »  
    • ChiefGeorge
      Posted on October 20, 2011 at 11:17am

      They want to get out from under the debt they can never repay or sell the home through short sales. Then they go and become renters because they can atleast afford to do that. I see it all the time where I am at.

      Report Post » ChiefGeorge  
    • Tired-of-fools
      Posted on October 20, 2011 at 11:40am

      I’m thinking of selling mine. Kids are gone, don’t need five bedrooms, paid 54K for it in 1983, sunk about 100K into it (was a condemned house), appraised last month for 789K, buy something for about 250K, play with the rest. Yippee!

      Report Post »  
    • carl_in_ohio
      Posted on October 20, 2011 at 1:20pm

      the sad fact is that people have to move to get work.
      having a commute of an hour (or more) every day is hard.

      Some areas have no work. So, do you stay – slave to your home??

      Report Post »  
  • 68Truthseeker
    Posted on October 20, 2011 at 9:37am

    Trump Still Wants Obama’s Birth Certificate Analyzed 10-18-2011

    http://www.youtube.com/watch?v=xEeZFhDG4_E

    Report Post »  
  • Gypsy123
    Posted on October 20, 2011 at 9:25am

    House prices are over inflated every where those houses are not worth all that money.

    Report Post » Gypsy123  
  • Secessionista
    Posted on October 20, 2011 at 8:29am

    It’s a great time to buy a house. I own 2, and am about to buy a third. In fact, I am toying with the idea of joining some other investors and buying up an entire neighborhood.

    Silly sheep, they bought houses in 2006 when everyone else was buying houses, and then sold in 2009, when everyone else was selling. That’s not how you get rich. You NEVER get rich doing what everyone else is doing. EVER.

    Report Post » Secessionista  
  • TiredofSittingontheCouch
    Posted on October 20, 2011 at 8:12am

    Median House price in Reading PA, $184 K ; Median Household Income less than $30K ? What is wrong with this picture? House rich but cash poor. What good is a house when you can’t afford to live in it? This was NOT the American Dream. America was sold on a LIE. The American Dream used to be Life, Liberty. and the Pursuit of Happiness. Somehow the American Dream has been twisted into; living life in the fast lane, having the most toys, get into massive debt, and die broke with no inheritance for their kids; just massive debt that they have to continue to pay for.

    Report Post »  
    • Tired-of-fools
      Posted on October 20, 2011 at 11:32am

      Why should you leave an inheritance? Obama is going to take 55% of it anyway. Spend it all!

      Report Post »  
  • paleoman
    Posted on October 20, 2011 at 7:58am

    He can do alot of damage to this country in one year, better be prepared for 2012, the year will go down in history I do believe but not for anything good.

    Report Post »  
    • Dorie
      Posted on October 20, 2011 at 10:01am

      I agree. Get your food storage, seeds and tools.

      Report Post » Dorie  
  • standPROUDamerica2011
    Posted on October 20, 2011 at 7:52am

    @IslandMama – I agree that the lack of jobs has some play in the selling of homes, however, I think the biggest problem is the surplus of homes and the fact that there are more people looking for inexpensive cash sales for investment purposes right now, rather than the more expensive homes that would require going through a bank for a loan. That is, at least, what I’m seeing here in Atlanta. Then, there’s the dramatic devaluation of many homes. Take, for instance, my place. I live in a small condo, just outside the perimeter of Atlanta. I bought my place for $129k (eight years ago), and it is now valued at $35k… the price of a new car! I’ve lost nearly $100k worth of value, which means I’m underwater… drowning, really,… can’t sell my place without a huge personal loss, can’t refinance (banks won’t touch me) and can’t rent due to a waiting list to be able to put my on the rental market. Overall, this housing market thing sucks. At this point, I’ve been tempted to just walk away from my place….

    Report Post »  
    • TiredofSittingontheCouch
      Posted on October 20, 2011 at 8:22am

      I could never figure out how a home is worth more than the property or land that it sits on. A house can be destroyed by fire or a natural disaster, but the land always stays. Our founding fathers knew that owning land (not houses) is what separated freedom from slavery. Stay the course, if you sell it, take the loss and move on; but don’t walk away and leave it to the next person to fix your mess.

      Report Post »  
    • carl_in_ohio
      Posted on October 20, 2011 at 1:25pm

      you live in Atlanta.
      What about us in Detroit and Cleveland??
      We’re losing population. No jobs.
      Manufacturing went to China and India.
      We gave our jobs away to overseas. We gave our wealth away doing this for cheaper products.

      Report Post »  
  • football lady
    Posted on October 20, 2011 at 7:48am

    4 months doesn’t sound that bad since housing are sitting in some areas like Detroit for much much longer than that.

    Report Post »  
    • SamIamTwo
      Posted on October 20, 2011 at 8:01am

      4 months is a quick sell, I see homes for sale that have been on the market for over a year in my area. These journalists are out of touch with statistics.

      Report Post » SamIamTwo  
    • BernieKittyCat
      Posted on October 20, 2011 at 8:38am

      I think part of the reason that Detroit-proper homes are selling quicker than average is that they are dirt cheap (think <$6-10k) and the city is razing abandoned homes. I live in Dearborn Heights, suburb of Detroit. I paid $121k in 2003. It's now worth $30-35k. There's a house two doors down that was on the market for two+ years before they pulled it off. I can't even think of moving for brighter prospects until the value rises or I pay down the mortgage. Don't worry folks. I firmly believe that since I made the deal, I'm responsible to pay it off. No bankruptcy for me.

      Report Post » BernieKittyCat  
  • Carl McPherson
    Posted on October 20, 2011 at 7:45am

    Yeah, this story seems okie. I have loads of friends that would just LOVE LOVE LOVE to seel their home in less than 3-4 months. That’d be a pipe-dream in Michigan. Even cutting the sale price down to giving it away.. who wants to buy a house anymore?
    Unless you’re a budding slum-lord that is snatching up houses to rent out and you have Uncle Vinny backing you finanically… nothing is selling that fast at all.
    We’re talking YEARS.

    Report Post » Carl McPherson  
    • Carl McPherson
      Posted on October 20, 2011 at 7:46am

      Not okie… Hokie.

      Report Post » Carl McPherson  
    • HorseCrazy
      Posted on October 20, 2011 at 12:24pm

      I am that budding slum lord, I buy some of my clients homes and own a commercial property management co. I feel so bad for people it is insane. I even rent to those now who are in bankruptcy and have had their homes forclosed. I just cant take it wealthy people and everyday folks are losing everything in this recession the government claimed ended in 2009. I am not seeing the end and am beginning to see the commerial market collapse as the residential market already has, scary times

      Report Post »  
  • IslandMama
    Posted on October 20, 2011 at 7:40am

    The housing crisis is directly related to the lack of jobs. People cannot sell houses in areas where there are no jobs because you have to have a job to pay for the house. The only caveat to that is vacation areas where some people are still buying second homes. The other problem is that people set their prices too high, leave them on at that price for a long time, and then are surprised when they don’t sell. Houses – all of them – across America have lost value. If people were able to set their prices according to current market value, they would sell. I think the best way out of this mess is for loans to become assumable – let people who want to take on your home at your current mortgage DO it without qualifying. As long as they agree to take on the debt, let them. Then people would be able to find buyers and move their houses. And banks would be getting paid in many instances where they are not now.

    Report Post »  
  • SpankDaMonkey
    Posted on October 20, 2011 at 7:39am

    .
    You can list your home all you want, but until someone has a job and a 900 credit score w/ 30-40% down. You ain’t gonna sell it…………..

    Report Post » SpankDaMonkey  
  • Gonzo
    Posted on October 20, 2011 at 7:21am

    3 to 4 months to sell a house is not that bad. It’s the price drop that kills you.

    Report Post » Gonzo  
    • kickagrandma
      Posted on October 20, 2011 at 7:45am

      No kidding.

      Report Post »  
    • kralspaces
      Posted on October 20, 2011 at 7:55am

      I use to flip houses between ‘99 and ’07 and sold 4 houses, longest on market was 2 weeks, all for a good profit. Those were the days. Now I sit here posting blog comments while on my fixed SS income. Life is still great. So money isn’t the answer.

      Report Post » kralspaces  
  • loriann12
    Posted on October 20, 2011 at 7:08am

    I didn’t see Texas. I‘ve had a house I’ve been trying to sell for over 2 years. It’s been on and off the market for that long. We take it off for 3 months to reset the number of days on the market. I made the bad decision to buy a different house (instead of the one I own WITH my in-laws, and moved out) right when the market crashed. You’d think in a predominently Hispanic area, a 5 bedroom, 3.5 bath with covered parking space for 4-5 vehicles would be desirable. It also has a seperate entrance for the upstairs 2 bedrooms.

    Report Post »  
    • SpankDaMonkey
      Posted on October 20, 2011 at 7:36am

      .
      List it in the paper in McAllen & Laredo some Cartel member will buy-it for a drop house…….

      Try it, have a friend whose wife list’s houses all the time in the Houston area…….

      Report Post » SpankDaMonkey  
    • Gonzo
      Posted on October 20, 2011 at 7:43am

      Be patient, I had one on the market for a year and finally gave up and tried to rent it, it sold the next day. You just have to sell it for a lot less than you would have in 2007. It stinks but, it’s better than two house payments.

      Report Post » Gonzo  
    • AxelPhantom
      Posted on October 20, 2011 at 11:43am

      Have you considered renting it out instead?

      Report Post »  
  • Living In NYC
    Posted on October 20, 2011 at 7:06am

    Thanks Barry…you have raped our jobs, the value of our dollars, our homes, growth in salaries, our 401Ks, our energy supply, our savings and our future.

    Thank god…you will be sent packing in 2012!

    Report Post » Living In NYC  
    • kickagrandma
      Posted on October 20, 2011 at 7:47am

      he’s already packing, he just doesn’t know it yet. : )

      Report Post »  
    • rcguy
      Posted on October 20, 2011 at 8:08am

      May I drive the moving van back to Chicago?

      Report Post » rcguy  
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