When do you think the market will bottom out and begin to rebound in the Daytona Beach, Ormond Beach area of?

Asked by Harmony, USA, Mobile, AL Thu Feb 14, 2008

Florida? I have been watching the market in this area for a few months now and I continue to see significant price drops on existing homes and even new homes. How much lower % wise do you believe the prices will go before stabilizing? Also, if a house has been on the market for 6 months or even a year with continued price drops, how can a person figure what a fair offer would be if there are no recent or simular comps available and the local property appraiser is off the mark due to the declining property values and economey? Thanks in advance for your insight.

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