Seebee

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how long will the housing market value will go down from now on?

Asked Wed Jul 2 2008, 13:19 by Gamal - Zion - Home Buying - 8 answers

Seebee answered:

Interesting question! I believe we will be in a downslide for another year at minimum. Things should start looking up by early 2010. Most of my Lake County properties have gone down approximately 12% since their high (in other words, house prices are about the same as they were in 2003/2004). Looks like houses in good shape and priced correctly take at least 6-8 months to sell. I you want to buy, I would wait a bit still. Another factor that will help houses increase will be the demise of the builder. Many builders have gone under, with larger builders downsizing considerably - purely supply and demand. Too much speculation and greed got us where we are today. - Fri Jul 18 2008, 13:45

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