Inflated Market and Inflated Budgets
By Alison Creamer, Realtor,MRP,ABR, CDPE,IMSD,HamptonRoads
(Keller Williams Elite)
So the local paper in Hampton roads ( Virginian Pilot ) publishes the Real Estate Report by The Associated Press. Here is my spin ! I was just reading an article in the Virginian Pilot about the state of the housing market. Its up, its down, its up its down. I swear I feel like Im on a roller coaster. SO lets look at the national statistics. 1. Homes prices fell 12% last year (here is the gloom – Sharpest drop since the GREAT DEPRESSION, really we have to know that !) 2. Median sale price is now at $173,500 (here is the good – YEA people can afford the homes now) Down 23% from the PEAK in 2006 3. Home sales are up 21 % from the bottom a year ago, but also down 25% from the peak (had to sneak good and bad for that last big dip) Okay here is my spin! STOP comparing everything from the PE...
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