Waiting For Home Prices to Rise Before Selling? Read This! - 12/27/09 04:42 PM
Everybody is discouraged by the drop in home prices over the last 3-4 years, especially people who want to "move-up" to a larger home.
Our statistics show that the median selling prices of residential homes in our 24 town area (from Branford to Waterford Connecticut) have dropped 14.1% since 2006 (as of November 2009). 
So should you "move-up" now or wait for prices to re-bound to 2006 prices (the same percentage as the decline of 14.1%)? 
I've estimated the results of buying now or waiting as shown in the table below: 
We're making several assumptions including:
1.  Current home and move-up home … (1 comments)

Buy Now or Wait For Lower Home Prices? - 12/03/09 07:36 PM
Home buyers who have been sitting on the sidelines are still asking if they should buy now or wait.  Maybe housing prices will drop further? 
The fact is that interest rates are currently at an all time low with 30 year fixed conventional rates below 5% with no points (assuming good credit, documented income etc.).
Many buyers have been reading the negative news about the economy and are saying, "I'll bet that housing prices will drop further, maybe another 10%"
 So what should you do?
The Fed has been keeping rates low by purchasing mortgage backed securities at the tune of … (3 comments)

 
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Edward McCaffrey, ABR, GRI, e-PRO

Essex, CT

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