Home prices have been falling at a record pace in June as reported by Reuters

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Real Estate Agent with Brokered by eXp Realty LLC SL # 3014652

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Another interesting article that I found on Reuters. As some of you know...many of my blogs have been syndicated there... so I'm always receiving feeds from them on my Yahoo home page.

I find it interesting how they are using price declines as one of the major reasons why it will most certainly be a long time before we see any major rebound or market correction. I believe one factor is that back in 2003-04....the market we were seeing was just a mirage and never should have been.

Most homeowners were conditioned to believe this and now are looking down instead of up. I also think that instead of expecting a 25% return over a few months and then selling is what caused the fake market.

If you look at natural numbers....most will agree that if you were to gain anywhere from 3-8% a year in return.....we probably wouldn't be in this situation but of course there are other factors such as financing loans for people who never really could afford the payments.

You can read the rest of this story >>>HERE.

For more information please contact Neal The Real Deal Bloom-Realtor® /RE/MAX Premier Associates

 Remax Real Estate Weston Florida                                                                                        Weston Realtor(R) Neal Bloom-copyright 2007

2500 Weston Road ,Suite 103

Weston FL 33331

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Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Neal, good thoughts from that article. What goes skyrocketing up most eventually come back down to earth.

Aug 26, 2008 02:52 AM #1
Rainmaker
594,107
Neal Bloom
Brokered by eXp Realty LLC - Weston, FL
Realtor CRS-Weston FL Real Estate

Gary,

Just thoughts!

Aug 26, 2008 03:37 AM #2
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49,189
Dianne Barody
Century 21 AmeriSouth Realty - Pensacola, FL
Pensacola Florida Real Estate

Hi Neal:  I agree with Gary too.  Things seem to adjust themselves naturally. 

Aug 26, 2008 05:05 AM #3
Rainmaker
299,253
Kathy McGraw
CELLing Realty - White Water, CA
Riverside County CA Real Estate

Neal- Now do you think we can convince Sellers about that "Fake Market" :)  I have seen some of my clients actually start to realize that they may never see anything like a few years ago, so better start concentrating on today.

Aug 26, 2008 05:33 AM #4
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William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Hi Neal, A very interesting post and one sure to give pause. In the longer run say in two or three years when the market has returned to some level of consistency, it will be once again, business as usual. Sales will take on a more normal accountability and the price will once again see that normal types of appreciation typical for Fla and the other "Sunshine States" The northeast will stabilize and the area where industry has been prolific in the past will lose a bit of luster. The coasts will gain their normal appreciation as people will be seeking out the coastal advantage. All in all a few rough times may still be in our immediate future but overall, we will overcome these market aberrations. Hopefully the economy will sustain what all it needs to undergo for the longer term.

Aug 26, 2008 09:36 AM #5
Rainmaker
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Neal Bloom
Brokered by eXp Realty LLC - Weston, FL
Realtor CRS-Weston FL Real Estate

I personally believe that because it was so pumped up people just figured it would keep rising but I know it had to end and then came the rains.

Aug 26, 2008 12:08 PM #6
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Neal Bloom

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