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Old 09-24-2009, 08:34 PM
 
155 posts, read 552,497 times
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Hey guys, any real estate gurus still think housing prices are going down still?
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Old 09-24-2009, 10:27 PM
 
Location: Milford, CT
33 posts, read 89,734 times
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At this time it appears the market has stablized. Sales are up, but that could be because of the first time home buyer tax credit. Hopefully the government will continue the program, if that happens, we'll probably see it remain stable if not increase. If home prices should go down further, I don't think we'll see double digit declines that we've seen. We are coming into the holiday season and home sales historically decline from mid-November to the end of January. This is where we may see a decline or slip in market values. Remember we also have another 5 yr. ARM reset coming in 2010 from homes sold in 2005, just before the market started to decline. Again, I don't think it will be anything like what we have seen over the past few years. No one has a crystal ball, so please understand this is my opinon based on the trends over the past few months.
Thanks
I hope that answers your question.
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