My Listings

For What It's Worth

Most of the local property values have leveled out in the past year.  Rapid price increases of 2004 and 2005 were simply not sustainable.  Some folks are buying now, thinking that we are coming off the bottom, and wanting to be sure they don't miss the next surge in prices.  Others are hoping that recent news of foreclosures will drive prices even lower.  If you hold out and miss the upswing, well you miss.  If you buy now and prices go lower, the next question is how much......and nothing I have seen indicates that the drop would be significant from this point.  Interest rates are still good and that is another area of concern. 

Breaking the market down a bit further, in my opinion, homes in the $400K to $500K range seem to be the best deals.  Many in that range now are better than homes were in that range 2  or 3 years ago.  The lower end homes are still pretty high and show little sign of coming down.   That's also the way I see the over-$500K homes.