01-01-2011, 05:39 AM
Market value is what someone was willing to pay for a property, it doesn't matter if the property is a short sale or a REO, market value is still what someone is willing to pay at a given point in time. As long as there are 100s of houses languishing on the market for months at very low prices that will lower market values for all properties. There are 364 houses on the mls in Puna for less than $250,000, 218 for less than $175,000 and 72 for under $100,000; regardless of how those properties got on the market they are depressing overall prices because supply far exceeds demand.
Carol
Carol
Carol
Every time you feel yourself getting pulled into other people's nonsense, repeat these words: Not my circus, not my monkeys.
Polish Proverb
Every time you feel yourself getting pulled into other people's nonsense, repeat these words: Not my circus, not my monkeys.
Polish Proverb