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HOME PRICES WILL CONTINUE TO DECLINE

By
Real Estate Agent with EWM International Realtors, Inc.

Despite some tentative signs of recovery, the U.S. housing market remains vulnerable to further price drops-especially in areas where large numbers of mortgages are headed toward foreclosure over the next few years.  http://online.wsj.com/article/SB10001424052748703816204574487240805281318.html

It's only natural that home prices will continue to decline, as we are facing more foreclosures and short sales in areas of the country...however, it's still a great time to buy...especially if you plan on owning your home or investment property for the next 7-10 years!

Show All Comments
Jeff Craig
Hang Me Up Photos - Jamestown, NC
Greensboro Area Real Estate Photography

I think this may be true in certain areas of the country, but in my area, we are seeing prices rise.

Oct 22, 2009 01:52 AM
Anonymous
Anonymous

I agree that prices will continue to decline.  There is still no upward movement in the market.  Just investors and first time buyers.

Oct 22, 2009 01:53 AM
#2
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

It is true that the prices will decline.  I agree that the market is still with the investor and the first time home buyer.

Oct 22, 2009 01:55 AM
Amanda Wilson
EWM International Realtors, Inc. - Fort Lauderdale, FL
Real Estate Advisor

It is inevitable....if the current calculations are true; namely, 1/3 of all homeowners are currently underwater....by 2011, one-half of all homeowners will be underwater.....it all depends on how many of these homeowners will be able (financially) to hold on....or give up....more foreclosures and short sales are on their way!  This isn't bad or good news...it may just be the real facts!

Oct 22, 2009 01:59 AM
Amanda Wilson
EWM International Realtors, Inc. - Fort Lauderdale, FL
Real Estate Advisor

It is inevitable....if the current calculations are true; namely, 1/3 of all homeowners are currently underwater....by 2011, one-half of all homeowners will be underwater.....it all depends on how many of these homeowners will be able (financially) to hold on....or give up....more foreclosures and short sales are on their way!  This isn't bad or good news...it may just be the real facts!

Oct 22, 2009 01:59 AM
David Jirasek
Jirasek Realty, LLC - Temple, TX
ALC, CCIM

The country is made up of multiple markets, within each state, each adjusting differently, as a result of historic increases and economy. Many REO's are listed below market to sell before the homeowner's listing down the street. That's just a business decision for them, thus creating two markets in a neighborhood.  

Oct 22, 2009 02:05 AM
Joel Prince
The Principle Group, Inc - Hixson, TN
Hixson/Soddy Real Estate Broker

Hey, buy on a pull back.  It's the smartest thing to do.  Reward potential is highest.  Risk is lowest.  I hope the decline levels off, but even it ticks down a bit, there are some great bargains to be had.  Buyers need to know.

Oct 22, 2009 02:22 AM
Nevin Williams
Fairway Independent Mortgage Corporation - Cary, NC
Senior Mortgage Advisor

Amanda - Hard to say since the "so called experts" are arguing both sides of the coin.  I guess we need to work like crazy in case the down turn does get worse.

Oct 22, 2009 10:11 AM
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