Oak Mountain Lake Topics: Real estate prices rise? Nope, they're gonna fall.

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	Name:	solvacc -
	Subject:	Real estate prices rise? Nope, they're gonna fall.
	Date:	3/19/2010 2:06:02 PM

I know most homeowner's don't want to hear it, but I don't think prices have stabilized yet. I think last years distressed sales have artificially made volumes look like they are on the way up. In contrast, every single person in the biz that I have spoken to has given a glum outlook for the year based on evidence that rentals & sales are very slow.

Don't get me wrong, John makes a great point in comparing sale volumes/prices and concludes the market has reset to 2005. However, a couple of things should be remembered. In 05, unemployment was 1/2 what it is now, flexible loans and lending practices were in effect, and, the beach communities were recovering from hurricanes. Today, from a sellers perspective, there is more competition to lure a scarcer number of buyers to the lake. Just my humble opinion.