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Just curious to see what others think about home prices. Despite the economy, it doesn't seem like prices in northern NJ have fallen much. When do you think they'll hit bottom?
Just curious to see what others think about home prices. Despite the economy, it doesn't seem like prices in northern NJ have fallen much. When do you think they'll hit bottom?
In my opinion...barring foreclosures and short sales... we are at bottom and I believe home prices will remain stagnant - unchanged for at least another 5 yrs.
Wall Street just imploded. down.
The overall economy is el stinko. BIG down.
NJ is unaffordable. down.
NJ is incredibly poorly run an corrupt. down.
vs.
This is metro NYC, a world city. *BIG* up.
This area has fewer dead/ dying industries.. up (see Michigan for dead and dying)
My guess this is not bottom and whatever trend the LOCAL market was doing will continue for at least 6 mos. Stuff along the train lines is still hot.
In my opinion...barring foreclosures and short sales... we are at bottom and I believe home prices will remain stagnant - unchanged for at least another 5 yrs.
Great...there goes DH and I's dreams of getting out of NJ before retirement.
I just sat in on an appraiser's seminar about a month an d half ago. We is very well respected in the real estate community. From what he said is that prices shoudl continue to drop at the rate of about 1% a month until the second quarter of 2009. The should remain there for a little.
Great...there goes DH and I's dreams of getting out of NJ before retirement.
You still can..just be prepared to sell for less and jump for joy that you'll be buying for less...it's all realtive...ok - maybe in Sussex County it's all "Relative"
In my opinion...barring foreclosures and short sales... we are at bottom and I believe home prices will remain stagnant - unchanged for at least another 5 yrs.
Boy, aren't you just a bearer of optimism and sunshine LOL......It's a mad mad world out there and I'm not going to take it anymore!! :::loading shotgun::::
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