Warren: Mass. real estate picture bleak in 2nd quarter

[0:11] ..." first six months the and number of sales are down about 19%. Median prices are down about 9%. Once the last time it was at this level. Well we have to go back to what we're looking at a six month period it to back to 1981 defined period where there were fewer homes sales. That some outlets remembers it. The depths of last. Real estate slump that the states suffered through back in the early eighties. So it doesn't appear that things have started to turn around"...

[1:55] ..." key here is safer for people to get it stated in buying real estate and to negotiate a -- fair price and in the think should start again."...

[2:24] ..." that are are worried about two. What do what which quit the real estate market is heading in the economy in general so I think it's gonna it's gonna take awhile. The brave ones will get out"...

[0:00]" Well -- the first six months are now complete in terms of statistics in this picture is is. Continues to be the same it's a slow market. For the first six months the and number of sales are down about 19%. Median prices are down about 9%. Once the last time it was at this level. Well we have to go back to what we're looking at a six month period it to back to 1981 defined period where there were fewer homes sales. That some outlets remembers it. The depths of last. Real estate slump that the states suffered through back in the early eighties. So it doesn't appear that things have started to turn around here in Massachusetts just yet. Now they haven't. Prices have started to fall this year the prices are down about 9% from the first six months of last year. And that's much steeper decline that we had during 2007. And but sales are still slow and I think that prices are going to be depressed for awhile longer. Homes and condos still staying on the market very long time. Yes condoms -- interesting and situation condos have actually been even slower in the single family homes. In the first six months of the year crossed the whole state of Massachusetts. The Condo sales are down 28%. Compared with just 19% in single family homes. So those those are moving very slowly."

[1:39]" Well I don't like excel of the buyers. -- seeing discounts in and people who expect to sell their homes have been expected to -- at a price that's it's. Lower than in probably they would like but one that's realistic so. I think the whole key here is safer for people to get it stated in buying real estate and to negotiate a -- fair price and in the think should start again."

[2:12]" Not this year now run its. It's hard to make a case person thinks turning around there's so many. Foreclosures still calm hand. The consumer confidence seems to be down people that are are worried about two. What do what which quit the real estate market is heading in the economy in general so I think it's gonna it's gonna take awhile. The brave ones will get out onto the Americans but to a lot of people -- in the the other factor is views the credit standards that the lenders are are acquiring these stated indeed much more detail payments did -- to three years ago. And you need a better credit score rent all of that sort of -- some of the -- people who. Would have qualified for for a I'm worried should a couple of years ago keeps them out of the market."