Some of the Boom Let Out of Housing Bang

WASHINGTON -- After months and months of a red-hot real estate market -- there are signs the housing boom is slowing. The homes being built are lingering longer on the market, new home sales are down and re-sales are moving more slowly.

"I would say it's a really good time for buyers," said Amy Musher's with Prudential-Carruthers in Bethesda. "There's less competition for each house that they're going to be buying, so in that respect it's good."

Musher says it's more normal this way. Gone are the days where buyers do anything to seal a deal.

"I mean, people were buying half a million dollar homes after seeing them for ten minutes."

Musher says some homes that would sell in a day are now selling in 30. And some of the shortcuts eager buyers were using -- waiving home inspections, waiving appraisals -- are no longer necessary.

As for sellers, Musher says hang tough. She says things will happen, just not as fast and without ingratiating gifts.

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D.C. Helping People Buy Homes in Town

WASHINGTON - The District government is helping more people buy homes in the city.

The city's housing finance agency is issuing millions of dollars in new bonds to help fund grants and loans for both first time and repeat home buyers. One program will provide grants of up to four percent to help cover the purchase price of new or existing homes.

City Administrator Robert Bobb says the program will help meet Mayor Tony Williams' goal of attracting 100,000 new residents to the city by the end of the decade.

(Copyright 2005 by WTOP Radio and The Associated Press. All Rights Reserved.)