Home sales falling...and to continue falling

[Ali Samana]

http://finance.yahoo.com/news/Sales-of-previously-occupied-apf-3783620294.html?x=0&sec=topStories&pos=main&asset=&ccode=

Home sales fell 5.1% last month and they are likely to continue falling. How are things in your market? Do you see any improvement in the near future?

What are you doing to market your properties more effectively in this market? Any strategies?

[J Scott]

The reason for the recent decline in home sales is the expiration of the tax credit. There was an artificial propping up of the market for several months prior to June for the same reason.

We've sold all our inventory and will start buying again in the next couple months, as we expect things to start improving a little by then (and then get much better next Spring).