Prices Up or Down?
Okay, quick quiz, are home prices
going up or down?
You’ve got a 50/50 chance of getting
the answer right. So which is it?
I mean, on the one hand the gov’t
is extending its tax-credit and loan
modification programs. So that should
driving home prices up.
But on the other hand, 10% unemployment
means folks are pinching their
pennies.
So which is it?
Well…. it really depends where
you live.
Nationally, home prices fell by
0.5 percent in October. So that’s
true as a national average. (By the
way, Integrated Asset Services
projected that the government
program’s effects have yet to be
felt but we should see an increase
soon.)
Home prices were down a whopping
6.2 percent from the same time
last year. That’s basically at
2004 levels and prices could
continue to fall if unemployment
doesn’t stabilize.
But regionally it wasn’t all
downhill. The Southern and
Western parts of the country showed
increases in home prices. And
hard-hit Florida rose 1.1%. This
rise was led mainly by low-priced
residential markets.
So take action while you can!
If you’ve got ideas to get started
selling, post a comment to the blog
and let the Short Sale community
know.
-
david
