xmplary

Property Values Set to Fall 43% from Current Depressed Levels

The reality is different from analysis. I have several clients bidding on bidselect.com for HUD properties and like every buyer, they want to start bidding way down, against my advice, only to find out that some one else's bid got accepted over theirs. The best time to have got the best deals was in the spring of this year when there was so much uncertainty and many not being able to get financing. Those deals are now gone, except where the seller is desperate... even then, the bank approving the short sales are not so desperate with all the billions tax payers have provided! Winter is generally a slow period, so desperate sellers will accept lower offers, but if they can hold on till the next season they will. Prices dropping 43% lower from current levels is fantasy, unless we are in for a similar situation as in late 08.