value going down

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      According to the real estate
      investor experts, the housing market is going to continue to decline
      and will bottom out next year toward the end of 2009 then start to rise
      again. Of course that’s just speculation and no one can say with any
      degree of certainty what the economy is going to be like next year or
      the year after. Some homeowners right now are opting to sell out and
      take the loss in equity in order to purchase a smaller home they can
      pay cash for in the hope they’ll be less affected if there’s a
      continued decline in the economy. The majority of people aren’t in a
      financial position to do that though. Getting out from under one
      mortgage would require taking on a new mortgage so for them, it’s more
      like a roll of the dice at a crap table in Vegas. You *might* break
      even at some point but the odds are strongly against it. You might
      want to check the local statistics for a better overview of the real
      estate market in your area but overall nationwide, the sale of lower
      priced homes are on the rise slightly and homes in the $195,000 and
      upwards bracket are plummeting. Knowing where you fit in should be
      taken into consideration before making any major decisions about
      selling your home and moving elsewhere.


      sharon smith-scott wrote:

      Hi Group,

      I have been wanting to move for a while. However, the value of my
      house has gone down by about ten percent. Should I still try to move
      or wait until the value increases again? I am afraid if I wait too
      long the neighborhood will become worse.

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