Prices have dropped pretty low. You can buy a house cheaper than in 2004 and that made me think, has the real estate market hit bottom?
Maybe I'm too optomistic and maybe not. I mean real estate can't go down to zero.
So what do you think A/R? Has real estate bottomed out, or will we all need a bailout?
I would guess its regional. Our market bottomed last fall(my opinion) but the bottom was about a 2-5 % decline. Its all local.
Who really knows when it hits bottom? as long as you tell you client to hold onto the property they are buying and not try to flip it, they are in the right hands
It hasn't bottom here in florida IMHO. I see a lot more foreclosures coming on the market. Home values are around 2003 levels here. But you have to remember home values doubled from 2000 to 2005 so homes purchased in 2000 or prior still have a lot of equity in them.
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