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Thursday, May 5, 2011

It's Official. House Prices Have Double Dipped Nationwide!!!

It's official. CNBC reported today that home prices have double dipped nationwide, now lower than their March 2009 trough, citing a new report from Clear Capital.

A surge in sales of foreclosed properties and a big push by banks to facilitate short sales would force home prices down dramatically.

Sales of bank-owned (REO) properties hit 34.5 percent of the market, according to the survey, resulting in a national price drop of 4.9 percent quarterly and 5 percent year-over-year. National home prices have fallen 11.5 percent in the past nine months, a rate not seen since 2008.

Talking about NYC (Brooklyn and Bronx), of course we have the same situation: declining housing prices.

In this downturn housing market, if you need to sell your house fast, you may have a hard time.

But there is always a way.

For more information, please visit our website.
 

 

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