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	Name:	Talullahhound -
	Subject:	New Home Sales below depression level
	Date:	2/28/2010 2:47:38 PM

I just spent two days talking to realtors about selling a house on Ono Island. The problem is not Obama or appraisals, but that the selling market is soft. Prices are down. For houses that the banks now own, the banks reduce the prices every 30 days until the house sells.
There are still a glut of foreclosures and short sales on the market. A correctly priced house will sell and there is mortage money available. The problem is that many people still have very unrealistic expectations about the value of their houses. Yes, appraisers are taking a harder look, but don't forget that a property is only worth what it can be sold for.

All of the realtors I talked to said that they expect a 5-6% decrease in prices throughout this year, and that prices will likely stay flat through 2011.

It's a good time to buy. I'm thinking of buying a waterfront condo.

Other messages in this thread:

View Entire Thread

New Home Sales below depression level - water_watcher - 2/28/2010 12:41:09 PM

New Home Sales below depression level - Talullahhound - 2/28/2010 2:47:38 PM

New Home Sales below depression level - water_watcher - 2/28/2010 4:37:51 PM

New Home Sales below depression level - Talullahhound - 2/28/2010 8:45:15 PM

New Home Sales below depression level - cobra - 2/28/2010 11:09:06 PM

New Home Sales below depression level - water_watcher - 3/1/2010 5:59:35 AM

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