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Replies (4)
- Angela Hardy, "AngelaHardy"
- Contributions:339
They have the homes appraised and them list them at the appraised value.
- Dan, "the_country_hick"
- Contributions:4694
That all depends on your perspective. If a house sold for $68,000 in 1998 and we have had about 35% inflation since then what should its value be?
Should it be the $250+k that it sold for in 2006? Should it be at the $170k it is selling for now? Or should it be about $92k as inflation adjusted prices suggest?
When an asset class such as housing gets overpriced no one should be surprised when prices fall. It is not HUD doing this. It is simple market forces at work. No easy money and almost unlimited lending mean prices are becoming more realistic now.
Should it be the $250+k that it sold for in 2006? Should it be at the $170k it is selling for now? Or should it be about $92k as inflation adjusted prices suggest?
When an asset class such as housing gets overpriced no one should be surprised when prices fall. It is not HUD doing this. It is simple market forces at work. No easy money and almost unlimited lending mean prices are becoming more realistic now.
- Brian Teyssier, "Brian Teyssier GRI"
- Contributions:964
Sorry to say that what they sell for IS market value. Do not blame anybody but the economy, lenders, glutenous buyer, etc....
- Kevin Olson, Jessica Laude, "Higher Living Team"
- Contributions:1954
Buyers can always start bidding higher. I wouldn't be pointing fingers on this one, a home is only worth what someone is willing to pay for them. These homes aren't normally in prestine condition or anything, often fair at best.
HUDPEMCO Destroying Pricing
One-by-one foreclosed homes are being sold below market value and destroying the underlining value of home sales!
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