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There are lots of us out there wondering how economic conditions and the down real estate market will play out over time. How will each of us be impacted? How are those being most impacted getting through times like these? What should we all be doing to weather the storm?
Here's your place to share thoughts, helpful tips and tell stories. We want to hear from you!
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 5 responses
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Posted: Nov 22, 2008 at 10:47 AM
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In the Ozarks we are not as influenced by the high and low swings of the market FL, AZ, & CA have had but we are a bit slower and a little lower than a year ago. Know it is just a matter of time before people will start buying and moving and upgrading homes again, real opportunity for those who can with the mortgage rates and temporarily lower property values now.
Jan 26, 2009 at 9:23 PM
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The worst part of all this, is the market is tearing down the economy, everyone is upside down in their homes, making it hard to move for better opportunities, making it harder for people to be mobile further degrades the economy.
We are in a spiral right now, and I am not sure if any time soon we will see a way out.
Jan 15, 2009 at 10:54 AM
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Jim J
Real Estate Agent
Calabasas , CA
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Pamela, lots of people are in your position right now. I hear countless stories of how recent home purchases are upside down now. The market will surely turn around..it's just a matter of when which means you just may have to hold on to that property a little longer than you thought.
Given that, I strongly believe the market will never reach heights like before. It was artificially inflated and just run on greed.
Jan 12, 2009 at 10:42 PM
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I've noticed that here in Georgia, the market has suffered substantially.
I tried to get an online appraisal for my home since I was thinking of selling. My home was built in 2006 so it's still fairly new. The first one did not even come back with a value, after several attempts. The one from an actual realtor based on comps in the area came back almost $20,000 less than what I paid for it. Ouch!...in just 2 years.
One subdivision closer to where I want to move had 20+ unfinished homes (mostly interior items like mirrors and light fixtures) that the builders were losing and were on the verge of being bank-owned. That would have been the perfect opportunity. Unfortunately, $500,000 and above is way out of my price range.
I just pray that the market turns around soon. The good news I hear interest rates are the best they have been in years.
I still hope to become an agent one day but that has been put on hold, yet again.
Dec 18, 2008 at 3:39 PM
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I can say locally here in Jacksonville, from a home owner perspective, I have noticed in my sub division, there are less homes for sale. Not sure if the market is bad to the point people have removed their house from the market or people are just deciding that moving is too risky right now...
But our neighborhood seems a little more stable now than it was a year ago where there were for sale signs everywhere...
Nov 23, 2008 at 8:56 AM
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