Home Value keeps declining when will it end?

Asked by chrissy, Tuckerton, NJ Tue Jul 8, 2014

Hi we decided to sell our home in 2009 that we had purchased in 2003 that time we had got lucky and sold it for the same amount we had purchased it for and purchased another home, our friends kept telling us do not buy now unless you stay long term in the house we should have taken there advise our home has declined close to 20 percent since then but we are possibly interested in selling and buying another home again but should we expect our next home purchase to decline as much as the 2009-2013 home declined in the 08050 area. thanks

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Sharon Felton, Agent, Nashville, TN
Wed Aug 6, 2014
In the greater Nashville area, values are increasing, so the home you bought in 2009 is certainly worth more today here. But let me ask you about your home. Have you maintained it faithfully? Have you upgraded any portion of the kitchen and bathroom (because those are the areas that buyers want to see in tip-top shape)? I wish you the best of luck, but contacting a competent Realtor in your area will help you out more than you can imagine.
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Terry McCarl…, Agent, Cape Coral, FL
Wed Aug 6, 2014
Home values in many areas have been steadily increasing since 2013. Consult with a real estate professional regarding the true market value of your home. Do not rely on values you find on websites such as Trulia and Zillow.
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Micah Matson, Agent, Athens, AL
Tue Jul 8, 2014
Nobody knows when the real estate market will go down or up. But if you sell in a buyers market you can buy in that buyers market and if you sell in a sellers market you also have to buy in that sellers market. It is like playing the stock market to try to sell high and buy low. How do you know your home went down 20% in value? If you do have to sell your home for less because the market is tight than make sure to battle for a lower price on the home you buy.
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Annette Law…, Agent, Palm Harbor, FL
Tue Jul 8, 2014
You need data, more data.
Your REALTOR can provide you community profiles such as my "Market In A Minute' reports which will visually reveal what is going to happen.
Scroll through my Trulia blog

After reviewing the elements in those reports, have your REALTOR provide you similar data.

Best of Success,
Annette Lawrence, Broker/Associate
Palm Harbor, FL
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