Wednesday, April 9, 2008
Foreclosures ruin property values
Yes, there are foreclosures, and many of them. Slowly but surely they are used as comparable sales, depending on how many of them are in a particular market, and they will drive down prices further. Does that mean buying is a bad decision? No. You *may* lose equity in the short term, but if you find a property that you like, that fits your financial situation, and is comparable in cost to renting, then the short term equity loss should not be of concern to you.
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1 comment:
This posts is telling absolutely true. As we know that this present ongoing economic recession has forced many homeowners to foreclose their homes as a result of these foreclosures the home prices have declined considerably.
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