Originally Posted by bpoerio
This is a buyers market. For individuals who sold their house last year they lucked out. Do you think the market for people who want to sell their home will come back to where it was last year or will home values go low and stay low?
IMO prices in the Hampton area haven't quite bottomed out - there are builders out there with unsold inventory. And with money tighter than in the recent past - including requirement of full documentation for mortgages - as well as the massive layoffs in the financial industry here in the metropolitan area, the second homes will be much more difficult to obtain/maintain.
Again, that's my personal and professional opinion