Question Details

Scott, Home Seller in metro Detroit

What can be expected to happen with home values once the glut of bank owned homes are sold off? Thank you.

Asked by Scott, metro Detroit Wed Feb 13, 2008

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Personally I think it really depends on consumer confidence in the re market. I think that bank owned properties will drive prices down. With a little luck they'll rebound after that.
0 votes Thank Flag Link Thu Feb 14, 2008
Scott ,
WE have about 1 more yr of REO bank owned property , and we have 2 to 3 yr of buyers wanting to buy waiting to see how far will the prices drop . So when the bulk of the Buyers start to buy the Prices will climb !

That day will be January 20 -2009 Prices will dramatically rise at noon Eastern standard time ! You know what that day is right ! LOL
0 votes Thank Flag Link Thu Feb 14, 2008
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