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Old 09-06-2019, 06:13 PM
 
4,077 posts, read 9,134,338 times
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I have gotten a few emails from Zillow lately showing various towns and it notes a lower average sales price then a year ago. We are only talking a few thousand bucks, and it could just be different inventory as these are medium sized towns, not cities, but I think its worth noting.

I am in NJ BTW
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Old 09-06-2019, 09:28 PM
 
47 posts, read 7,299 times
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Maybe in your specific area only.

Real Estate values are definetly not declining, they are increasing.
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Old 09-07-2019, 07:18 AM
Status: "Laurie Christofano" (set 29 days ago)
 
Location: Oak Park, IL
36 posts, read 13,809 times
Reputation: 103
Real estate is local. Many different factors influence the micro market of each area. A knowledgeable Realtor local to your area could give you some insight.
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Old 09-07-2019, 07:24 AM
 
Location: NC
6,680 posts, read 8,217,059 times
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I get Zillow zip code observations from all over the country. Some are up a little some are down a little. Last year they were up almost everywhere. I would consider all but the high tech areas sort of neutral at this point.
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Old 09-07-2019, 09:26 AM
 
Location: Danbury CT covering all of Fairfield County
2,278 posts, read 6,033,706 times
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Maybe it could be due to a new more modest homes selling versus large ones. There are more sales of the smaller homes than the larger ones in most of my market area.
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Old 09-07-2019, 09:40 AM
 
Location: The Triad (NC)
28,963 posts, read 63,135,710 times
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Quote:
Originally Posted by GiantRutgersfan View Post
I have gotten a few emails from Zillow...
Unsubscribe.
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Old 09-07-2019, 10:07 AM
 
2,224 posts, read 1,296,062 times
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Jersey is not a good indicator, because property taxes are insane. A step above timeshare in some areas...meaning you would have to pay someone to relieve you of your tax obligations. Zillow reminds me of a pushy Jewish grandmother I never knew I had.
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Old 09-07-2019, 10:27 AM
 
5,807 posts, read 1,470,815 times
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Quote:
Originally Posted by Hal Roach View Post
Jersey is not a good indicator, because property taxes are insane. A step above timeshare in some areas...meaning you would have to pay someone to relieve you of your tax obligations. Zillow reminds me of a pushy Jewish grandmother I never knew I had.
It absolutely IS a good indicator.

Yes, values are declining in high tax blues states because of the tax law changes. Here in the Chicago suburbs, they have declined 20%. Higher end homes have declined the most because the taxes are insane and more tax increases are on the horizon. It is amazing to me that people can't see this relationship. Even realtors in my area can't seem to put 2 + 2 together. They keep hoping this is a temporary blip.
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Old 09-07-2019, 11:09 AM
 
2,224 posts, read 1,296,062 times
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Quote:
Originally Posted by Grlzrl View Post
It absolutely IS a good indicator.

Yes, values are declining in high tax blues states because of the tax law changes. Here in the Chicago suburbs, they have declined 20%. Higher end homes have declined the most because the taxes are insane and more tax increases are on the horizon. It is amazing to me that people can't see this relationship. Even realtors in my area can't seem to put 2 + 2 together. They keep hoping this is a temporary blip.
You can add Pennsylvania and Ohio to the list.
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Old 09-07-2019, 12:14 PM
 
73,295 posts, read 73,074,368 times
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Our house we used to own in pa is still below what we paid in 2007 and sold for in 2012
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