Top ranked realtor Green Bay says naturally if you are a buyer in these times generally speaking you should be in heaven as houses for sale around the nation are anywhere from 30% to 60% lower than the median price in 2007. And mortgage rates are at an all time low to boot. Just be sure to look at fixed rate mortgages from top ranked realtor Green Bay as adjustable’s are sure to rise as inflation is bound to occur and interest rates will rise to stymie this event. Location, as always, will dictate price. Some in-demand, metropolitan areas such as Boston saw declines in the 25% range; but even Honolulu did not go unscathed with median prices declining a mere 10% to approximately $600000. The houses for sale in locations anchored by universities such as Austin, TX (Univ. of Texas) did not decline at all from 2007 (median $183K.) And the low priced areas of the Mid-West (under $100K) didn’t have much further to depreciate.
An oddity from top ranked realtor Green Bay and the local top rated realtor Green Bay should be noted about Wisconsin . Even though houses have been abandoned and tens of thousands are in foreclosure, some 50,000 new homes are being built or on the drawing board. Crazy! Apparently buyers don’t want to live in “ghost” neighborhoods. But that inventory overhang of already built dwellings or houses in foreclosure will have to be worked off before purchasers of the new homes will ever see appreciation. Nationwide forecasts are for further declines in price for houses for sale. As a prospective purchaser I would advise you keep abreast of the classified ads to gauge buying opportunities. Focus on houses for sale by the owner or the bank for greater savings. Even so, you might want to rent and wait until the dust settles before you buy a house. Because the “new normal” in appreciation may only be about 2% per year, there is no reason to rush. And beware if congress takes away the tax deduction for mortgage interest and/or local property taxes. There will be another dip in price on houses for sale