Thursday, April 20, 2006

Hot homes face cooling markets

In some cities, dropoff in sales, rising supply could cause prices to fall

Todd Linsley, a 37-year-old investor, bought a three-bedroom house in Stuart, Fla., for about $318,000 in late 2005. His original plan was to quickly flip the property -- which is in a new housing development about 40 miles north of West Palm Beach -- by selling it for as high as $425,000. But when he saw that the market was turning, he decided to list the home for $379,900. It's been on the market since early January with no takers. (Read More)

Source: Baltimore Sun

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