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Median Hous Prices Decline - Sell My House Fast
Thursday, September 27, 2007
The median house price across the nation is down 1.5 percent from one year ago. If you have been paying any attention to real estate over the last 6 months then this should be no surprise.
In the summer of 2005 interest rates were at an all time low, mortgage companies were practically giving away money, and many speculative real estate investors drove up prices. With the recent mortgage melt down, money is harder to get, investors are loosing houses and this is causing house prices to decline.
In cities like Boise Idaho the median home price is $212,000, up 2.6 percent from last year, but this does not mean that houses are appreciating. Many people who need to sell their house in Boise Idaho are discounting their houses substantially in order to get them sold. This is causing the median home price to increase. I know of houses on the market $100,000 below what the house appraised for in the summer of 2005.
If you are thinking of selling your house you have a big decision to make. Some home owners can wait out the real estate market down turn while others can not. If you can live happily in your home for the next couple of years to wait out the market I would suggest doing so.
However if you are a home owner that needs to sell your house you may have a tough task ahead of you. Your best option to sell your house fast is to get an offer from your local home buyer. There are many reasons why I would suggest selling your house to a local home buyer. If you are going through a divorce, need to stop foreclosure, need assistance on a short sale, being relocated by your company, have family health issues, recently inherited a house, etc.
If you are in a situation where you need to sell your house fast then consider selling your house to a local home buyer. Local home buyers can purchase your house fast so you can move on with your life.
To check out what the median price of homes in your market are doing go to the article covered by CNNMoney.com, but be aware that increasing median home prices does not mean houses are appreciating. In most cases people who own houses above the median home price are dropping their prices. This causes the median home price to go up.
Get a free, confidential, no obligation offer for your house at ExpertHomeOffers.com