Market Conditions in 10591>Question Details

Wayne Crosby, Real Estate Pro in Dobbs Ferry, NY

Do you think this downward correction in the price of real estate has bottomed, & will move back upward?

Asked by Wayne Crosby, Dobbs Ferry, NY Thu Aug 7, 2008

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3
Yes of course it will move upward, it is only a cycle.There are many opinions but only, when the inventory gets low then the prices will start to rise.
Good luck!
Roxana Kamber (Coldwell Banker, Florida)
1 vote Thank Flag Link Thu Aug 7, 2008
It is not just the price! Historically a home has always been the largest personal investment. You have to remember that it is usaully a long term investment. More important than that is the interest rate you pay for the loan. If you wait for a home to drop 10% and the rate goes up by .5%, you pay more for the home over 30 years. All indicators are there too for the rates to rise. Inflation and Oil prices have traditionally been the tell tale signs. Buy now, don't wait! All values go up and down, look for value in the market.
0 votes Thank Flag Link Fri Aug 8, 2008
Some metropolitan areas are showing a slight uptrend in prices. Denver is one of those cities. You may hear more about this at http://www.realtytimes.com by watching their video.
0 votes Thank Flag Link Thu Aug 7, 2008
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