I must echo most of the other Wiscomsin real estate pros. Our market never went to the wild highs of other parts of the country and as a result we haven't seen the free fall. You do need a full time professional in your search area to explore the market opportunities, though

Right of the top of my head, that would seem to make sense.

In 90% of all real estate markets the answer is yes. In some super-prime, high-end markets the price may be relatively straight line. It's location, location, location. Buyers today are looking at two factors: price and condition.

As inventory grows your competion grows giving the buyers a wide range of options.

BIll McInerney, Realtor, Concord, MA

I agree with all the responses.

They say California is fall into the ocean but that depends on which beach you are considering.

Los Angeles Westside is stable and have seen significant increases in certain neighborhoods.

Whatever you are considering, contact a full time local realtor for pricing in the areas you are considering.

Real estate is a local business.

All the best,

Angela:
Looks like you're near my market area in Vilas and Oneida Counties.

In most cases, prices have held steady in this region. We saw pretty strong appreciation up until 2005, which was a record sales year for the North and the state. Since then, prices have been level, with a few declines, and some modest increases.

It really is about supply and demand; if the home you're considering has many competitors in as good or better condition for the same or better price, it may have lost some value.

As my colleagues have said, best to rely on an agent in your area to help you with some market data specific to this home. Best wishes!

Angela,
as Jim said, the value of properties vary based on location. I have seen neighborhoods that have seen a loss in value of 10% + (some fell 20%) since the high of 2005/06. But others have held steady (and even had very slight increases in value)
It would be important that you have a Realtor do a market evaluation of Recent sales, in order to determine an accurate value based on today's market conditions.

Wisconsin has traditionally been conservative, and our home prices, for the most part didn't go through the roof, as other parts of the country. As a result, we didn't fall as far either.

All the best to you!

Thank you Jim! I really appreciate the fast response.

Real estate markets are local. An agent in your market would be the best source of info related to your question. Since '05 predates much of the speculation fueled inflated values related to the decline, it's possible that the adjusted value of the home is above its '05 value.