Possible Double Dip in Value Expected in 2011

Robert Shiller, the Yale economist and co-founder of the S&P/Case-Shiller home price indexes, dropped a huge bomb this week: “There’s  a substantial risk of home prices falling another 15%$, 20% or 25%,”.   Many disagree, to include Karl Case, who co-founded the home price index with Shiller.   He believes the market will “bounce along the bottom all year.”   If that’s the casse, buyers who take the plunge now shouldn’t expect big profits if they sell in the next few years,  but they shouldn’t expect to take a major hit either.

Two very different assessments from two founders of the same case study.  Market areas are strong variables when it comes to depreciation.  Despite the continued gloom, many Americans remain confident about buying a home.

The clear difference in opinion is a strong alert to buyers on the importance of finding and working with a knowledgable and season broker.  At Metro Brokers and Realtors, our buyers always receive:

-          updated information on new loan programs

-          professional assistance in buying at auction

-          monthly newsletter with on everything from bargain hunting to securing cheap loans

-          advice on protecting yourself when buying bank-owned properties

-          advice on protecting yourself when buying properties at auction

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