Selling In the Post-Bubble Market
Since the nationwide housing bubble has burst, a down market has thus ensued. With home values to dropping around the country, many potential sellers are in a bad position. Owning more on their mortgage than their home is worth, they are under water.
The 2008 real estate market was a wash. By the December of 2009, property values will have plunged up to a quarter in value. Though the market is stagnating, we may see recovery as early as 2010. Paul Krugman (of The New York Times and The Economist) predicts the market will finally emerge from its recession in 2011. That is when economic growth, job creation, and consumer spending is supposed to improve.