Of course Brian you are right about the math. Prices are going down 35% to 50% from what?Houses as well as cmcoermial property prices went up way beyond reason. Saying a property is worth what some one will pay for it is ridiculous. The numbers are the numbers. Many people over paid for properties. Many people always have over paid and continue to over pay today. Many people don't care what they pay, it's just money. This blog has introduced the idea of price into a sales game. It has also introduced the idea that there is a Real Estate sales game out there. What I think is worse is that Loan Originators sold mortgages based on that sales game. The lender, the bank, or the investor is supposed to be the stop gap in Real Estate prices. Lenders are supposed to look at value. Just because a few thousand idiots drove up prices does not mean every one should pay the difference. To determine value depends on your goal. There is a need to clean up the Real Estate business so you can get the advice to make an informed decision. I'm surprised by how little information there is about Real Estate especially on the internet. This repeated question about how far the market will fall just shows that people are misinformed about how to make an offer, or determine Real Estate value.Yes you do need a person to guide you in the process, we all do. I ask for advice all the time about Real Estate, about houses, or value. My fortune is that I know who to ask and what to ask. Rate this comment: 0 0

by Yessenia 12:05:28 AM 2013.01.27