No, the numbers are really scary. These next few years are going to be MUCH worse as the economy tanks and unemployment rises.

From Trulia:
Market View for Wildwood
Info
Avg. Listing Price $332,445 Wk ending Nov 05
-$3,050
-0.9%
w-o-w
Median Sales Price $230,000 Oct '07 - Sep '08
-$110,000
-32.4%
y-o-y
420 Homes For Sale 0 Open Homes
118 Recently Sold 97 Foreclosures

Hi Claudio,

Please contact Michael Nazarow. He is our team member who specializes in Cape May County. I'm sure he can help you and give you some advice on property value trends. He can be reached at 609-204-8646.

Thank you and best wishes,

Matt

No, values are not going up in Cape May County for a long time. Economists in a NY Times article said OC is overvalued at 51%. Values will continue to drop for several years or until they reach their historic values. That could be a few years, or 17 years like the Japanese Real Estate Crisis.

I expect Rio Grand to drop significantly, like OC it is 50% overvalued. It is off shore so doesn't get vacation buyers, and there is no real economy or jobs to sustain any housing increase.

If you are a buyer, wait, you will be glad you did. If you are a Seller, get WAY below your competition, price is what is selling the few houses right now.

Historical Value Trends
Show as: %
RIO GRANDE
30 days -4.8%
1 year -9.4%
5 years 143.5%

In some areas they are starting to level out whiole other areas are still going down. As broadcast in business update 7 major markets have seen a aslight increase. Until the banks really start lending, and the foreclosures start decling, will the country as a whole level out and start heading back up.