Prices - Up Or Down?
By Bill Roberts, "Baby Boomer" Retirement Planner
(Brooks and Dunphy Real Estate)
Prices - Up Or Down? By Bill RobertsThere is a lot of talk these days on pricing of real estate. Most of it is wrong.There is no "magic number" for what a property is worth. That number is arrived at by a meeting of the minds of the buyer and seller, maybe with a little help from his real estate agent.When prices were going up double-digit percentages each year it wasn't because they were necessarily correct, but rather because a buyer was willing to pay that price. Now it seems that buyers aren't even willing to pay as much as they did last year.So what is the right price? Maybe a little historical perspective is called for. In the mid nineties a nice house in Bay Park (San Diego) with a view of Mission Bay could be had for less than $200,000.00. San Diego is a growing area. The two ma...
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