In a recent article by Elizabeth Weintrub, from Homes.com:
In parts of the country hardest hit by 2007 - 2008 foreclosures such as California, Michigan and Florida, prices will continue to soften. In scattered markets, the bottom will already have been reached by April but media won't report it until late summer, after a trend has been established.
There will be no more dramatic price drops such as those 30% to 50% declines we saw between 2006 and 2008. But the market will not stabilize in 2009. Furthermore, consumer confidence will continue to fall, and more people will find themselves out of work. On the bright side, employed home buyers with good credit will find 2009 is an excellent time to buy.
There will be no more dramatic price drops such as those 30% to 50% declines we saw between 2006 and 2008. But the market will not stabilize in 2009. Furthermore, consumer confidence will continue to fall, and more people will find themselves out of work. On the bright side, employed home buyers with good credit will find 2009 is an excellent time to buy.
Here in the Mt. Washington Valley and western Maine, we have typically been insulated from the market slumps that we are experiencing all over the country. One of the reasons for this is that when the market was extremely strong and prices inflated, we typically did not see the huge increases as other locations.
We have been very fortunate not to have the amount of foreclosures that other markets have seen. Currently in our area, there are no more than 10 bank owned properties listed for sale!
If you would like to learn more about how you can purchase a home, contact a Badger Broker! Ask about the $7500 credit! Call Badger Realty today at 603-356-5757! or email info@BadgerRealty.com
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