Thread: Price Reductions??

Is anybody seeing a lot of price reductions in their area?? We have had a lot in this area. I don't feel that the market is flatening out I just think that people were getting out of control with how quickly the market was going up.
Any opinions?
Lori L

Hey Lori,

Statistically, we haven't seen a slow down in Portland yet. But that's August's data. I personally see that the rush to buy a home before school starts is over. Homes are just taking a tad bit longer to sell. However, there're still plenty of buyers abound. I'm working with so many buyers from CA every day.

Max

what is the reason for sudden fall in the property prices

The prices in our area are holding but the marketing time is increasing.

Prices here are generally holding, but they aren't going up like they have in the previous several years. It had gone up, but not like in other areas. Time on the market is increased and a good number of properties just aren't selling. The biggest differenct is we are seeing many people only just breaking even when they sell and increased number of forclosures.

-Tim

just bought my first house for $175 in gulfport, fl. it sold 2 years ago for $225 so i guess prices have gone down in this area!

Dan Shaw
SkyPIX Imaging LLC

I wouldn't say we are seeing house prices fall a ton...maybe a little. I'd say they are just sitting on the market a little longer than they used to. I do see houses that are overpriced (in my opinion) but hey, what do I know? I'm just a Loan Officer...haha

Prices in Orange County are down, and inventory is up. Foreclosures are predicted since everyone is loaned to the hilt with interest-only programs. It's gonna get messy in Southern CA, that's for sure.

An excessive amount of short sales are affecting prices in Sacramento and surrounding areas.

In Miami and surrounding area prices dropped. However, this is not a biggest concern for us -- foreclosures are. They hit so hard that is unbelievable. I see how people are loosing everything.