How are house prices in your area?

[Steve]

How are house prices in your area?

This is freaky from The New York Times.

Lender Sees Mortgage Woes for ‘Good’ Risks (http://www.nytimes.com/2007/07/25/business/25lend.html?hp) - Executives at Countrywide had for some time been more skeptical than others but the bluntness of their comments yesterday surprised many on Wall Street. In a conference call with analysts that lasted three hours, Countrywide’s chairman and chief executive, Angelo R. Mozilo, said home prices were falling “almost like never before, with the exception of the Great Depression.”

http://msnbcmedia2.msn.com/i/msnbc/Components/Art/COVER/070725/STG_HZ_tumbling_745a.jpg

[S.P.Martin Lawn Care]

Its turned into a buyer's market in this neck of the woods. Not so much in the middle class suburbs as the higher priced neighborhoods. Ocean front stuff is not moving and the prices are coming down in big chunks.

[Steve]

How do you think all that will effect the lawn care industry?

[S.P.Martin Lawn Care]

I really don't see any negative effects on our profession. Its a service that is growing in leaps and bounds regardless of the price of homes. A good chunk of my customer base is expensive secondary homes and the owners want the places to look good. The rich getting richer? Maybe....

[tiedeman]

Well, it has and it hasn't turned into a buyers market. My wife and I have been home shopping since March of this year, and nobody is moving on their prices. We are offering prices of only $4,000 below the asking price and seller are not moving. When I asked my real estate why people were not moving and he told me it was because of the whole "flipping" of houses trend people went through. If people would take $4,000 less, then they are going to lose out on a lot of money and end up in the red. They are hoping of holding out longer and hoping that the market will rebound soon. But even the real estate agent doesn't think the market will rebound until Fall of 2008, or even Spring of 2009.