last weekend, I read a Seattle PI (local paper) and the front page headline was " Seattle Real Estate Values are Falling." This is historically a VERY strong market.
Last winter I heard the same thing in San Diego. This is probably happening everywhere right now. Glut of SFR and foreclosures, sub prime problems, etc.
I guess the thing I find kind of strange is commercial real estate and MHP’s and apartments are actually appreciating and selling here in my part of FL. A realtor friend of mine says commercial real estate is keeping them hopping.
I wonder if this is a time lag kinda deal or if this is happening in other parts of the country. Fed gave a half point reduction in the discount rate and commercial interest rates went up in Florida the same month…strange that.
Anyone out there seeing this same thing on appreciating commercial values in your areas? I would have thought commercial values would be the first to lower and the last to recover…seems I was wrong (again)LOL