2007-06-20 00:32:48 · 6 answers · asked by jck_kerouac 2 in Business & Finance ➔ Renting & Real Estate
I live in Maryland/DC metro area and our housing prices are falling. Most homeowners view this as a housing correction but are still kicking themselves for not selling a couple of years ago. Some are panicky realizing that their houses have "depreciated", their ARMs are due to adjust, and that there may not be enough equity now to refi into a fixed rate.
2007-06-20 07:51:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Arizona- Depends on the location and the asking price of the home.
Price declines are all over the board.
Homes in the outskirts of town have gotten clobbered. With 3.00 gas and 1 hour drive time to work many people are bailing out. Too many seller's not enough buyers. I've seen prices off 10% in place like Buckeye, Goodyear, Surprise, Queen Creek.
In a real estate downturn I always see price start down on the outskirts of town.
The higher end homes are actually holding their own.
I did see my first short sale offered in Scottsdale through the MLS. This is the first time I've seen a short sale in the MLS in Scottsdale EVER.
I've lived In Arizona for 41 years and grew up in Scottsdale.
As a once famous investor said "There is never just one cockroach" so I suspect I will see many more short sales in Scottsdale before it's all over.
Hope this helps.
Terry Smith
http://www.Welcome2Arizona.com
2007-06-20 16:35:40 · answer #2 · answered by Terry S 5 · 0⤊ 0⤋
Some neighborhoods in the Greater Las Vegas area have seen declines up to 10%, but others remain unchanged, or have actually appreciated. I'd say across the board, we see an average decline of 2-3% recently.....I do believe we're at or close to the "floor" but it's hard to know where the floor is until prices are coming back up! A strange phenomenon.....
2007-06-20 15:01:04 · answer #3 · answered by R.E. Advice 3 · 0⤊ 0⤋
Southern Oregon and prices have been edging down slightly. Not the catastrophic decline the media likes to present. But it sure isn't the significant gains of a couple years ago that this area experienced.
2007-06-20 11:32:42 · answer #4 · answered by godged 7 · 0⤊ 0⤋
I live in south-western WV and real estate prices have never been great around here. They seem to be holding pretty steady though. They never skyrocketed so therefore they didn't have anywhere to fall.
2007-06-20 09:22:20 · answer #5 · answered by angela 6 · 0⤊ 0⤋
We are located in eastern Wisconsin. From what I can see in our MLS, prices are holding fairly steady to small deflations from a year ago. A crash ? Nothing even close. I'd call it a small market correction at best.
2007-06-20 07:41:16 · answer #6 · answered by acermill 7 · 0⤊ 0⤋