10 Plus Years Of Loss

Looking for homes is one thing, finding  good homes and getting them under contract is another. It's tough to get a good home; to beat out the competition. It's at once not surprising people are buying like crazy and a surprise to see how they still have confidence in housing after all its been through. 

For many it simply makes sense, from owner occupant buyers to investor the prices are too good to pass up.

[ Via Public Redords ]

What is amazing is how low prices have dropped. For those who purchased before the market began its climb up the glass mountain it's almost unfair. Take a look at the example above of a home I was looking at for a client. It's only one of many homes on the market in a similar situation. Purchased for $120,205 over 10 years ago and now it's on the market at $98,700? That looks like a price from the late 1990's.  

This is a nice neighborhood, very desirable and I'm sure the home is by now under contract. In areas, less desirable, I have seen prices equal to the early 1990's and sometimes even the 1980's. Amazing.

Now add the loss for inflation!