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Has the market reached the bottom?

By
Real Estate Broker/Owner with RE/MAX on the Bay

I am beginning to receive data and forecasts that suggest that we are at or very close to the bottom of the real estate market in New London County.  While I do not believe that home prices will start to appreciate for some time, I do feel that the inflationary pressures from high energy costs will cause an increase in mortgage rates over the coming months.  That being said, now is the best time to buy a home in New London County.  Buyers that stay on the fence will be looking back on the summer of 2008 and saying "Why didn't we buy then?"  I hope everyone has a great day and stay cool today!!

Comments (2)

Steve Homer
The HBH Group (Keller Williams affiliate) - Round Rock, TX

The real fallout from all the foreclosures in the market has yet to be seen in my opinion.  The devaluation in the markets around the country from foreclosures will not be completely felt until later this year or early next year.  I suspect there will be a good bit of falling yet to do before we hit the real bottom...  Hate to be the bearer of bad tidings!

Jun 09, 2008 02:32 AM
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

I quite agree with you on this. Unfortunately people are scared and afraid to move. The others think we haven't reached bottom

Jun 09, 2008 02:38 AM