Excess Inventory

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Real Estate Agent with Frank Rubi Real Estate
I drove past several new developments in the Ponchatoula area.  This is about 45 miles West of Slidell where I live.  I guess there were forty to fifty houses all together.  I believe only three didn't have for sale signs.  There were also some developments that only had roads and nothing else.  I blame the housing problem on the developers and the ones who loaned the money.  It is going to take a long time for this inventory to be bought by buyers.
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Rainer
5,280
Todd Haggard
Century 21 Nachman - Virginia Beach, VA
ABR
You are correct, but the ones who buy today will be able to take advantage of the excess inventory.  
Aug 25, 2007 01:30 AM #1
Rainmaker
120,370
DDR Realty
DDR Realty - Newburgh, NY
Orange County NY
This may be true in some market areas, but not in all.
Aug 25, 2007 01:33 AM #2
Ambassador
941,447
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com
John, in order for this supply issue to work out today, the seller needs to show value. Whether a seller or builder what makes their property stand above the crowd. See George Tallabas post on Putting on Blinders.
Aug 25, 2007 02:00 AM #3
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John Walters

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