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Double Dip...Here's the Scoop
Real estate buyers and sellers are you confused about what's going on in the real estate market?  It's a lot to digest right now.  Lots of conflicting stories out there.
Here's the facts.
Fact #1 - Real estate prices have dipped back to post crash low levels.  This is what's known as the dreaded double dip.  Economists and experts see this as the recovery having lost its momentum.
Fact #2 - Interest rates are still at record lows, often times below 5% for certain buyers and depending on lender.
Fact #3 - Housing prices are fluctuating.  Depends on your market too but some reports have sales increasing on existing homes, others have prices declining.  There's a lot to report here but we'll discuss what it means.
Fact #4 - Banks have record levels of distressed properties on their hands.  This is the most important point.  We can't recover until these make their way through the system.  Our existing buyer base needs to absorb this inventory so we can have stabilized levels of housing and prices can again appreciate.  However our kick the can down the road atittude is prolonging this problem.  Each month that a home sits, it causes more blight ... more

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