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Are there reputable websites where I can go periodically or can someone on here give some true insight to where the housing mkt will/is projected to be in between now and specifically 2010????
2010 is when we will need to sell our home, we are located in Palm Beach County, FL.
Just for the record, we will owe $115k at that time and so even if we sell if for $200k, it will be fine. In the boom, we could've gotten over $300k.
If you find that person behind the site with a crystal ball can you send me his information? Pleeeeeease?
No. No one can give you "true insight" to pricing in 2010. And yes. Everyone and their mother can have a prediction. It's called an opinion. We all have 'em.
I agree! There are to many un-knowns going on today in our economy, presidential elections and many other issues. Que Sera, Sera What will be, will be.. ..the future is not ours to see---remember that old song? It says it all!!
Last edited by cynwldkat; 06-07-2008 at 10:44 AM..
It's true that nobody knows for sure what will happen, but it seems to me that we won't likely see a bottom until at least the summer of 2009, and then things can sit on he bottom for a while and stay flat.
But....my thinking is that those markets that have seen the largest drops so far are probably going to enter their flat period sooner and won't drop as much as those areas where the drops started later...I'm not real familiar with the Palm Beach market, but Miami started early and dropped by a lot.
It might take a while for you to sell, but just off the top of my know nothing head I'd say you'll get your 200,000, or close to it.
I could give you my Oregon real estate agent opinion, which is 100% completely meaningless for Palm Beach, if you want.
If you hear someone projecting data out that far IGNORE them. That is too far out to be even close to accurate. I agree with Ira500 that the general best guess is that we will bottom and plateau in 2009 sometime. What the bottom looks like, who knows?
Are there reputable websites where I can go periodically or can someone on here give some true insight to where the housing mkt will/is projected to be in between now and specifically 2010????
2010 is when we will need to sell our home, we are located in Palm Beach County, FL.
Just for the record, we will owe $115k at that time and so even if we sell if for $200k, it will be fine. In the boom, we could've gotten over $300k.
Please respond! Thanks.
Money Magazine (very reputable) has said that your county will decrease another 17% by May of 2009. Don't know about 2010 though. I would say they will remain steady from May 2009 and 2-3 years after that. If you can sell now, sell now, as prices are going to continue to drop. I see houses in the acreage and wellington being listed for 205K..and these are NICE 3/2 CBS homes.
West Palm Beach, Fla. • Housing bust: Share your story (http://moneyfeatures.blogs.money.cnn.com/2008/05/06/housing-bust-share-your-story/ - broken link)
• Send feedback to Money Magazine
12-month forecast:-17.6% Median home price: $305,000 One year price change: -18.7% Five year price change: 46.1% Prices forecast to hit bottom: Oct.-Dec., 2009 Change in foreclosure rate: 435%
Are there reputable websites where I can go periodically or can someone on here give some true insight to where the housing mkt will/is projected to be in between now and specifically 2010????
2010 is when we will need to sell our home, we are located in Palm Beach County, FL.
Just for the record, we will owe $115k at that time and so even if we sell if for $200k, it will be fine. In the boom, we could've gotten over $300k.
Please respond! Thanks.
Are you really going to spend the next two years worrying about what the market will be like in 2010? That would drive me batty. You can either sell now, or you can't. If you don't want to sell until 2010, I'd see how things look at the end of 2009 and go from there.
The poster who pointed out that none of us has a crystal ball is absolutely correct, including CNN forecasters. My opinion, however, is that if you wait until 2010 you will be hosed big time. This disaster is just beginning.
I think the hurricane season will have additional influence on prices, especially if there are some serious hits.
No one knows what any market will do in two year's time. Proof is 2004-5.
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• Housing bust: Share your story (http://moneyfeatures.blogs.money.cnn.com/2008/05/06/housing-bust-share-your-story/ - broken link) 
