Home prices going up tomorrow?

[Broknrekord3]

A good way to guesstimate if prices have stopped going down is to compare pre- real estate boom prices to the yearly inflation rate. A house sold in 1996 sold for X amount-- now multiply that amount by the annual inflation of the past 14 years-- and we should be within 10-20k of that amount, granted the house has had upkeep. We're getting close-- but not there yet. Expect another 10% drop (IMO) over the next couple years. I'd say in 2 years we'll see prices stop dropping for the most-part.

[Flat2MT]

Originally Posted by moneill

Any day now the bottom will drop out......and before we realize it did -- things will be going up. That's the problem with the bottom -- you only know it is the bottom after it's gone and things are on the rise again.

Actually, these 'things' will actually be pretty much flat for the next 5 years - that old RE model is out the window....

[moneill]

No it isn't -- there will be a time where things go up -- it may be 5, 10, 15 years -- we don't know until we hit it and we have gone up. Doesn't matter what model you use. i do agree that things will be a relative flat line (not neccessarily an absolute one) but was referencing the note on the bottom. It won't hit all areas at the same time.

[bustaduke]

Originally Posted by flgrammie

I was just told by a realtor that home prices will be going up tomorrow. In other words, if a home is already listed that price will increase on Sat. What is the logic in this?

tell them to list your house tomorrow


busta