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We at Top Agent Realty Group have kept a vigilant ear to the ground and based on our local area conditions, we can summarize that this market has seen a marginally negative roll back in residential values. When we look at a drop in values, and currently a consistent drop in mortgage rates, our ratio to purchase a property has never been better, at least not since the mid-80’s. High interest rates back then drove prices downward. Today, vacancies driven by foreclosure have increased inventories of residential homes across the market and thus have an effect on the values. Is it a good time to sell? All things being relevant, of course it is. Your income stream should be considered in helping you determine if now is the right time. If that income stream has not changed, it is logical that the reduction in price of a home you couldn’t afford two years ago is now affordable. We should not focus on the equities we once accumulated as a source for the down payment on the next home we enjoy. The affordability factor for young families is at a very attractable level. The affordability factor for golden year retirement is fantastic. And, the affordability factor for long term investors is prime. Our market outlook for the next two years will be similar to the early stages of the real estate boom we saw five years ago. If at any moment during the last boom period you might have said to yourself, “I wish that I had taken advantage of it” now is the time for a second chance. In real estate, we don’t get that too often.

Based on our local area conditions, we can summarize that this market has seen a marginally negative roll back in residential values. When we look at a drop in values, and a consistent drop in mortgage rates, our ratio to purchase a property has never been better, at least not since the mid-80’s. High interest rates back then drove prices downward. Today, vacancies driven by foreclosure have increased inventories of residential homes across the market and thus have an effect on the values. Is it a good time to sell? Of course it is. Your income stream should be considered in helping you determine if now is the right time. If that income stream has not changed, it is logical that the reduction in price of a home you couldn’t afford two years ago is now affordable.We should not focus on the equities we once accumulated as a source for the down payment on the next home we enjoy. The affordability factor for families is at a very attractable level.