Comments on: Bank of America Thinks It’ll be a Long Way Down

By: EyesWideOpen

EyesWideOpen — Tue, 20 Nov 2007 22:26:32 +0000

What will those T.V. shows do that are so popular like “flip this house, etc.” I’m interested to see what will happen after the writers srtike!

By: Morgan Brown

Morgan Brown — Sun, 18 Nov 2007 18:54:45 +0000

Vicki – I think that anyone looking at buying real estate needs a Realtor like you with a honest approach to the current market. Thanks for sharing your thoughts here.

By: Morgan Brown

Morgan Brown — Sun, 18 Nov 2007 18:53:39 +0000

Mark – I love it.

Ann – I think you are right, spots that didn’t see great appreciation will not see great depreciation. The 15% number is of course an average which means that other areas such as CA, FL and NV will have to take much bigger losses to make that 15% nationally an average.

By: Mark

Mark — Sat, 17 Nov 2007 22:57:15 +0000

15% drop???

I guess that means we’re 5% away from the bottom here in Phoenix. Heck, I think I’ll buy this weekend!

Maybe not

By: Ann

Ann — Sat, 17 Nov 2007 18:10:28 +0000

I agree with BOA..however, I do think that the recovery will be more devastating to certain areas of the country while others will recover more easily. States like CA and FL will be among the group that will not see recovery until 2011, but other states like GA,NC,TN and more will start to see a leveling off around 2009.

FL and CA are looking more and more each day as states heading or currently in a recession…

By: Vicki Lloyd

Vicki Lloyd — Sat, 17 Nov 2007 17:13:51 +0000

Hi Morgan –

This goes along with what I’ve been thinking. It will take through 2009 to get through the bulk of the foreclosures, while prices continue to drop. After that we should hit a plateau with only minor fluctuations in values, followed by a return to “normal” appreciation, which should be 2-3% per year.

I only hope this isn’t too optomistic!