We took down the home Price Index link because it was a poor barometer of what's really going on.

It seems everyone you talk to has a different opinion on what home values are, whether this is a good time to buy or sell and where the market is going from here. Here's my take, your home is worth what someone will pay for it, a good time to sell is seldom a good time to buy and vice-versa and no one can say with any certainty where hoem prices are headed.

It appears many homes in our area are back to early 2000 valuations so, if you're hanging on to what houses sold for in the mid-2000's, you're likely going to be holding out for a while. You can price your home aggressively and get it sold sooner or you can price it more conservatively and wait longer. The risk in the latter is that rates go up and prices go up so, if you get your price on the sale, you'll likely lose just as much on the purchase. 

If it's a great time to sell then prices are high which generally isn't a great time to buy. If it's a great time buy then prices are low which generally isn't a great time to sell. Point is, it's no better or worse than any other time to be in real estate. If you're a buyer coming from a rental or 1st time buyer, this market should look attractive depending on your employment prospects etc. Rates are under 5%, home prices have rolled back @ 10 years and, even though guidleines are tight, now would seem like the time to pull the trigger.

As for the future of prices, who REALLY knows? Everyone has an opinion and that's all it is. What's happening in Dallas doesn't effect Spokane and San Diego doesn't impact Lincon. Look to yourself, review your prospects, get prices on the area you're considering and talk to us about how to get qualified.

If you REALLY want to know what's going on in a particular area or with a specific house, complete the iquiry form and we'll give you up to date info straight from our local MLS. If you want to see a house, let me know. As a Real Estate Broker, I can show you any house of interest.