[carolinajack]

Are the prices going down anywhere in Southern VT like they are in other parts of the US, they are so unnaturally inflated up there for the amount of jobs there are available

[arel]

I've been looking at listings in Brattleboro and I have noticed that several homes have come down in price. Not by a whole lot, but they have come down.

[cleobarker]

Although it's true that housing prices have started to drop a little, I think that may be mostly due to the fact that the market has slowed substantially. As a friend of mine who is a real estate agent told me today "NOTHING is moving".

[carolinajack]

thanks cleo, thats what i was referring to, were the housing prices coming down due to the recent downturn in the market? I am not sure what other reason there would be for the prices to come down

[pucabear]

Most sellers are still trying to get the large profits from before, but alot of them will negotiate when given an offer.

[cleobarker]

carolinajack,

You've got the right idea. Post September 11th there was a huge influx of people from CT/NY/NJ who felt the need to flee their areas and head for a more secure, safer area. They brought substantial amounts of money with them and drove the real estate market up quite high. It's settled down alot now and although prices are still high compared to the pre 9/11 days, it's not the craziness it was 3 years ago.

Although who I am to complain? The whole scenario raised my property's value quite a bit! I am now looking to sell and relocate myself so that's a plus for me.

cb

[sugarmaple]

I am a firm believer that if a property is priced at fair market value, it will be sold/purchased.

[pucabear]

Originally Posted by sugarmaple

I am a firm believer that if a property is priced at fair market value, it will be sold/purchased.

"Fair market value" is relative. The market is definitely in a transitional period right now, so it can be a little difficult to determine what that number should be...and just as difficult to tell that to people who have "friends or neighbors" who made a great profit a few months ago.

[KoZmiC NinJa]

The Rutland Herald recently had an article that says Vermont
is getting the least hit by the downturn than any other state.
I cant remember any more than that though. We are FSBO'ing
ours so the market is of great concern right now. I do know
the comps in our area rose considerably in a one year period,
though but that can change back just as easily.
We have relatives in FLA who say people they know are having
to rent properties for less than the mortgage just to keep ANY
money coming into the property. I certainly cant see that happening
here. They will never build here the way they do there, thank
goodness !!!!!!

[pucabear]

You are right, it is not as bad here.....but it is still VEEEERRRRY slow. And even slower if you are not priced well.