Here is a post that I found on a Realtor's Blog. She tells a story of a House that was purchased 18 months ago for $595,000 it ended up selling for $439,000 after being on the market for 75 days.
I guess Real Estate does go down. In this case 26%
Go take a look. LINK
"The truth is, it's a market. The market doesn't care what you paid for your house or how much you think its worth or what your neighbors think it's worth. The market isn't personal, whatsoever. Price is determined by what a buyer is willing to pay and a seller is willing to sell for."
Subscribe to:
Post Comments (Atom)
2 comments:
Hmmmm. Things are going to get ugly pretty soon.
Once this starts happening here, no one will buy a house unless they get an amazing deal.
Exactly,
Panic Sales are what bring the markets down. Some would say back to the norm.
What do you think brought housing up at such an alarming rate?? Normal Economics?? Normal inflation?? It was Fear. Being afraid that you would be priced out of the market.
Fear of not being able to sell your house could contribute to a decline.
Post a Comment