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Sep21
Homes Overpriced
Taffy Wagner September 21, 2006
Know More: Current News, Mortgages 2.0, Mortgages
According to a story I read on CNN.com, housing is still overpriced even in the apparent market cool down. What does this say? Was it because of the higher interest rates that we all witnessed recently or the ARMs that are now going up? I would have to think a littl bit of both. What initially came to my mind is maybe some appraisers said the houses were worth more than they really are. All of these factors can leave a consumer in trouble. This will make it difficult to sell a house. I imagine this news would even affect realtors that are used to moving a property in less than a week. Now houses will remain on the market longer because people should feel as if they can pick and choose between houses. If a house is overpriced and the seller will not come down, what would stop you from going to another house? In my case, the answer would be nothing. Make sure you weigh all the options and look at the big picture.

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« Homeowner as a Sitting Duck | Main | Housing Slump One Reason for Economic Growth »

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