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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Night Trader who wrote (79278)	2/25/2007 3:59:55 PM
From: russwinter	Read Replies (1) \| Respond to of 110194

<So they should buy?> Guess you just read half the post? Here's the answer to your question from the rest of it, so you tell me. But if they do, judging from the extra million vacant houses above the norm, they will have plenty to choose from. I don’t feel the bottom of the market has occurred. I think it’s going to be a little while,” said Nick Dunlop, an appraiser who has pegged home prices in the county for 15 years. Since the market’s peak in summer 2005, Dunlop has consistently appraised homes at lower values based on the most recent sales of comparable homes. His latest appraisals were down about 10 percent from the record high. “It really was an eye-opener for me,” he said. Listings and sales in escrow now are mostly at prices less than those for comparable properties sold two to three months earlier. Many appraisers are lowering prices about 1 percent each month, Dunlop said. www1.pressdemocrat.com