[JayCT]

Please return to the topic of this thread which is about relocating to Madison. If you wish to discuss the housing market in Connecticut then please start a new thread on this Board. If you want to discuss housing in general, please refer to the Real Estate thread. Thank you, JayCT, Moderator

[Kristin85]

Originally Posted by stevelaw

I'm not following this logic.

Basically if prices have fallen, then buy now?? This would work great in the stock market. They call this "catching a falling knife."

Prices are nowhere near there historical norms. This baby has a long way to fall. Government intervention paused the decline for a short time, but don't delude yourself, this can't go on forever.

It's much better to buy a house when prices are low and interest rates are higher. Especially if you have cash. If you buy now, interest rates are only going to go up, thereby dropping the value of your house.

Word of advice. Don't take advice from the majority of real estate agents. Their livelihood depends on you buying a home.

Madison is a highly desirable area to live and, as I said, it is unlikely that prices will fall further unless the US economy gets severely hit a 2nd time around. I hate government intervention, but this is America and it's not about to stop anytime soon. Regardless, even without government intervention to sustain buying, Madison prices won't fall much further barring a double-dip. The CT coastline is one of the most desirable places to live in New England, and Madison--along with Old Saybrook--are the cream of the crop. People will pay up for prime locations within a reasonable distance to a metropolitan area (in this case, New Haven) when they see prices fall.

[stevelaw]

Originally Posted by Kristin85

Madison is a highly desirable area to live

There are many desirable areas in CA that still got hit, and are continuing to fall. Government intervention stopped the major bleeding that would have occurred in CT. Whether it stopped it permanently or not only time will tell.

I'm just trying to show the OP the potential risks.

We'll have to agree to disagree.

[shorelinect]

It is holding its own. Prices have dropped about 20% since 2007, but only declined slightly. This year was a low uptick my neighbor said whom works for Ravies.