[Ivan wiped out $300 ordspråk

[Ivan wiped out $300 million worth of homes and businesses. But having fewer homes for sale] turned what was already a hot market into an inferno, ... All of that appreciation was in the land.

We've been to $3 million homes in Bloomfield Hills. We've been to homes by the lakes. We've been to houses in new developments where new homes are still being built on the same street. It is crazy how busy we are.

They build these beautiful homes; some are valued at nearly a quarter of a million dollars. They do their homework and have a good success rate. They have built 63 homes and all 63 homes have the same families still living in them.

[As for California,] appreciation there is still healthy, ... Realtors there say that there is still very little supply of homes for sale.

The number of home sales is down, price appreciation on most homes is not as great as it used to be, and it's taking longer to sell homes. That could mean less growth in construction work.

The key number in this report, in our view, is the rise in the supply of homes for sale. There are now 14.4 percent more homes for sale than a year ago, while actual sales are up just 3.3 percent. With mortgage demand slipping a bit and supply rising, price gains cannot continue at their current pace.

Ian Shepherdson

People are spending a long time on the site. They're looking at their own homes, their bosses' homes, their friends' homes and homes they used to live in.

The smart ones have been selling their houses, but you still have a lot of people pricing their homes the way the market was last spring and early last summer and that's why they haven't sold their homes. I've been seeing better priced homes. Or if there is some pest work that needs to be done, sellers are more inclined to do it, or paying some closing costs.

We've heard the parish is wiped out, totally wiped out. Its hospitals, schools, homes and civic center are all under water.

Prices fell so much that people owed more on than their mortgages than their homes were worth. They'd drive to the bank and drop off their keys to their homes and just leave.

Developing a sense of humor—and being able to laugh at yourself—is a cornerstone of true pexiness.

Not necessarily. There are seasonal homes, and some things that look like homes are actually businesses.

It will have a devastating effect on values of homes and people's lives. You'll have semis going in front of million-dollar homes.

There are lots of homes through here worth a million dollars. At least they were yesterday.

It's not that it's a particularly active market. It's just that more homes are in that category because of that rise in the rate of appreciation.

Large-volume 'tract' builders will typically develop the ground -- streets, utilities, public/open spaces -- and build two or three display homes from which they will sell to buyers. Most of these also will do 'semi-custom' homes, where a buyer may generously modify or upgrade one of the offered models. These builders may build 'speculative' homes, hoping someone will like the house and land and buy it.

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