Prices Falling Just in Time - Short Sale Fundamentals

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10
Jun

Prices Falling Just in Time

Did you ever notice how things have a way of balancing out? You know, things go down just as something else goes up. It’s always funny when it works out that way, but it really makes a lot of sense.

Take the latest news about home prices, for instance.

The tax credit for first time home buyers expired at the end of April. And wouldn’t you know it, the market saw a sudden sharp dip in home prices. It dropped almost $2,500 on average.

So it’s rea

reduction in home prices

housing market prices down

lly interesting, you lose one opportunity, you gain another. Sure they don’t quite balance out, but where do you think things will go from here? Are sellers going to have to come down even further?

Oh, and of course the leader in home price reductions? Florida! San Francisco also saw large reductions (actually the biggest in terms of dollars instead of percentage). So hopefully those areas will continue to enjoy a small recovery through the summer months.

Have you noticed any price changes in your area? You are the people out there, hitting the streets to find great deals. So I want to hear from you, get your feedback.

Have a great weekend.

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  • Marri Cunniff

    Well! I wish that was the case here in the South Bay part of Los Angeles…or any where in the Coastal areas of Southern California. We have seen prices stabilize and start to climb…good news is that interest rates have gone down.
    What keeps me motivated is that every cloud has it's silver lining…we just need to look for that! And you all are so great in sharing how to use every down turn to our advantage!

  • Shirleyafarrington

    Here in Atlanta prices have not dropped. They have gone up a little and there is a new way their marketing foreclosures now that drives the prices up. You may have heard about it. What is happening is that there is a 'Third Party' involved that is fixing them up; painting with decorative paint colors, installing new carpet, pressure washing the outside and more all to raise the price by $15,000 to $20,000 on a foreclosure that would have been listed at $100.00. And First Time buyers and even some investors are buying this way. Yes paying that much more when they could do that kind of work themselves. Even if they hired someone else to do the actual work it would not cost them that much more money. But they are 'falling in love with the home' and are just thinking that is that much less work and things that I would have to think about.


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