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Home prices nose dive

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Wide White: Home prices nose dive

Tuesday, March 25, 2008

Home prices nose dive

We put our offer in at the end of January. The home had already been marked down $40,000 from its initial offering and we offered significantly less. On top of that, we asked for and received another $1500+ worth of add-ons.

Point is, if you're selling, the market is rough.
US home prices drop 11.4 pct in January

NEW YORK - A widely watched index of U.S. home prices fell 11.4 percent in January, its steepest drop since data for the indicator was first collected in 1987.
Washington, D.C., and Minneapolis both slipped into negative double-digit territory for the first time in January, recording 10.9 percent and 10 percent drops compared to last year.


Blogger Kara Jo declared,

Yeah, this is scary since we'd like to sell our town home in a year or so and find a single family home in Hudson. Bad for selling, good for buying. God's bigger than all of it, though.

3/27/2008 3:31 PM  
Blogger Joey declared,

Hey, look on the bright side...for what you'll lose on your townhome, you'll gain in the savings on the single family home. You might even save more on the single family than you lose on the townhome! (Gotta stay optimistic, right?)

3/28/2008 12:11 PM  

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