[transplantct]

I know that prices will not drop to what they were, but can anyone say where they will go in the next year?

[skytrekker]

Another 7-10% drop is likely.

[JayCT]

Originally Posted by transplantct

I know that prices will not drop to what they were, but can anyone say where they will go in the next year?

I thnk that depends on what towns you are interested in. Some will drop more than others. Some may even go up. No one knows for sure. Jay

[AmyBergquist]

I've been doing real estate stats for towns West of the River for a little while. I just did my blog about how 2007 ended up for West Hartford and the Farmington Valley. Things did just fine! You can see the info here... In the Neighborhood

How do I post pictures on this message board? I can just insert my charts directly if someone tells me how to do it.

[jjbradleynyc]

Originally Posted by skytrekker

Well what else would a Realtor say
No offense meant.

LOL...right.

[Juliangel]

Personally, I feel that the house values have seen their most significant decrease over the last 4 months. I agree that values will probably continue to drop, but ast a much slower rate. As a realtor spending eight hours a day in the office, this last week has seen a significant increase in buyer calls.Just yesterday there were 9 substantial buyers that called our office. I can also tell you that my listings have been getting a greater amount of showings. Buyers are coming out of hibernation, ready to take advantage of the deals. I wish that I had greater cash flow to take advantage of it. Alot of realtors are.

[flyingdaggers]

Originally Posted by Juliangel

Personally, I feel that the house values have seen their most significant decrease over the last 4 months. I agree that values will probably continue to drop, but ast a much slower rate. As a realtor spending eight hours a day in the office, this last week has seen a significant increase in buyer calls.Just yesterday there were 9 substantial buyers that called our office. I can also tell you that my listings have been getting a greater amount of showings. Buyers are coming out of hibernation, ready to take advantage of the deals. I wish that I had greater cash flow to take advantage of it. Alot of realtors are.

Mind sharing with you which town/area you in? From readingb others' posts seems eastern ct has been more hammered while the western/south parts closer to NYC the differences have been small.

Also maybe you don't mind help me with this: what's the difference between "actual mil rate" and "equalized mil rate" and which is the one you use to time to the value of a house to get tax? Thanks!

[Bob The Builder]

Originally Posted by transplantct

I know that prices will not drop to what they were, but can anyone say where they will go in the next year?

Trans

I am having trouble understanding this statement. By definition a price drop would have to go to a price where it was before. What price were you referring to?

[JayCT]

Originally Posted by Bob The Builder

Trans

I am having trouble understanding this statement. By definition a price drop would have to go to a price where it was before. What price were you referring to?

I would guess they mean the prices of about 7 years ago. Jay

[Bob The Builder]

Originally Posted by JayCT

I would guess they mean the prices of about 7 years ago. Jay

Thanks Jay

I posted a few weeks ago I was looking into a house in Litchfield County. Seller is asking 375k now. They paid 310k in 2002 and paid another 60k for an adjacent lot and popped another 20k in remodelling and upgrades. So that's 5 years back! And that is just the current asking.