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Elain Szu, Home Buyer in 94123

Have prices bottomed in your neighborhood or city? Or will they continue to fall?

Asked by Elain Szu, 94123 Wed Jun 17, 2009

Economist Robert Shiller predicted last week that the nation's declining home prices "may well continue for some time" and that "we will have a seller and no buyer, and there will be that much less demand relative to supply — and one more reason that prices may continue to fall, or stagnate, in 2010 or 2011".

On other hand, the Commerce Department reported yesterday that home construction climbed more than expected in May - with housing starts up 17.2%. Is this a sign that we've hit the bottom or are will prices continue to fall? What's happening in your market?

Help the community by answering this question:


I am a Realtor and my husband and own a brokerage in Red River New Mexico. We are primarily a resort community and sell mostly vacation homes. Our transactions are actually up from previous years. We have many buyers inquiring on our properties and have 5 pending sales right now. Second home buyers are out there paying cash. Investing in real estate they can enjoy rather than the stock market. Our prices are not sky rocketing as they have the previous five years but they are holding steady. Red River is a great place to invest.
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1 vote Thank Flag Link Thu Jun 18, 2009
In many areas surrounding Washington DC, which include suburban Maryland and Virginia prices have stablized, even if dropping it is slight. Sales activities difinitely picked up the last few months. Many are short sale and foreclosure properties that actually get multiple offers. Regular sale are also selling when price reflects the condition, same principle as before.
1 vote Thank Flag Link Thu Jun 18, 2009
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