Absorbtion Rate

Each morning I check the Wesley Chapel hot sheet to see what is newly listed, pending, or sold. And each day I see that there are more new listings than homes that went pending or sold. Until that numbers inverses, we are going to continue to see prices stagnant or further decrease. On a positive note, builders are no longer builing 'on spec' and adding to our inventory woes, and large planned developments such as Wiregrass Ranch are on hold.

And finally, until sellers realize that if they bought their home from mid 2004 on, the value of their home has gone down! It is worth less! I know it is a hard pill to swallow, especially if they HELOC'D it up even higher, but your homes value is a market value, not a what you owe or want to get out of it value.......