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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on February 12, 2009, 07:19:43 AM

Title: Home prices plunge to 30-year low
Post by: Bindare_Dundat on February 12, 2009, 07:19:43 AM

Home prices fell 12.4% during 2008, the largest yearly decline since the National Association of Realtors began keeping comprehensive records in 1979.

The median price for a U.S. home sold during the fourth quarter of 2008 fell to $180,100, down from $205,700 during the last quarter of 2007.

Distressed properties, the foreclosures and short sales that have flooded the market, accounted for 45% of all deals. That has driven sales volume up in Nevada, California and other states hit hard by foreclosures; but these heavily discounted homes have also pushed median prices down

Title: Re: Home prices plunge to 30-year low
Post by: headhuntersix on February 12, 2009, 07:24:14 AM

I've had my house on the market for 5 months. Plenty of people have looked...one made a bid and couldn't get financing. My house is priced to sell with the entire main floor redone...new carpet....tile....kitche n..paint. The basement is finished with recessed lighting...perfect "man" cave. Its priced to sell and gets great reviews after people walk through....nobody has the cash. Conversely I'll make more renting it out.