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Old 10-03-2007, 09:24 AM
SteveFromNY's Avatar
SteveFromNY SteveFromNY is offline
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Default Home Prices - Where are they now?

I've seen home prices in TV rise fast over the last few years. When I first started looking at TV web site the prices ranged from $75K for a patio villa into the high $200K range for a premier. That's back a while of course. I bought a house in June 05, and watched houses similar to mine grow in value by comparing to the resales on TV web site.

Now things have changed! The resale market has dropped. It seems the new house prices have nose dived as well, even without the incentives.

Where do you think it has dropped to? I've seen homes up for resale that were bought in '06 asking for less than the original selling price (courtesy of the Sumter County Tax Assessor site - http://www.sumterpa.com/ ), and I saw a home yesterday that's priced at 33% higher than it was originally purchased for in Oct 2005 ($299 to $409).

I'm sure lot's of folks keep track of the value of their homes, and I'm just wondering are prices back to what they were in early-2006, late 2005, late 2004, some other time? In other words, when would you have had to buy to be breaking even today? To make a profit? :dontknow:



 
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