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A poster on the Real Estate Cafe blog raises the question whether “seller incentives” are masking the true decline in housing values. I’ve read elsewhere about sellers offering a one-year lease on a car (if not an actual car) to help them move a high-priced McMansion that they can’t sell. And of course, real estate developers can through in extra amenities (granite counter tops) as well as below-market financing. I’d be interested to know what kinds of incentives readers are seeing in their local markets…
BusinessWeek editors Chris Palmeri, Prashant Gopal and Peter Coy chronicle the highs and lows of the housing and mortgage markets on their Hot Property blog. In print and online, the Hot Property team first wrote about the potential downside of lenders pushing riskier, "option ARM" mortgages and the rise in mortgage fraud back in 2005—well ahead of many other media outlets. In 2008, Hot Property bloggers finished #1 in a ranking of the world's top 100 "most powerful property people" by the British real estate website Global edge. Hot Property was named among the 25 most influential real estate blogs of 2007 by Inman News.