Financial Freedumb and Brownie

What is the reason you ask?  Because if I thought prices were coming down, I wouldn’t be able to sell a house.  If the housing market entered a 2 or 3 year housing slump, I would be broke.

In the Sunday newspaper this weekend, in the homes section, the executive vice president of Prudential Locations LLC, Scott Higashi says, “There is no crash on the horizon,” he says.  “I think sales will continue to drop slowly, and prices will continue to appreciate slowly.  Median prices land around a 7- to 8-percent increase by the end of 2006.”

He says he “thinks” sales will continue to drop, but you can assume he also “knows” there is no crash.  Interesting.  I wonder where and how much he bought his crystal ball for.

I’m getting a little tired of this mini-series within my series, My Home, because the My Home series is really about my journey to purchasing a home…not commentating on each email update I get, but the last two updates I received had 4 houses new to market, 6 price drops, and 4 new photos added.  6 out of the 14 real estate related activities in my update were downward price changes.

• $629,000 To $610,000 (3% price drop)
• $715,000 To $699,000 (2.2% price drop)
• $624,000 To $619,000 (0.8% price drop)
• $559,000 To $549,000 (1.8% price drop)
• $649,000 To $629,000 (3% price drop)
• $799,000 To $765,000 (4.3% price drop)

Well, I’m probably not going to be posting much more of these in the upcoming future…sure it’s good news for me, but it’s not good news for others.  I’ll just focus on my purchasing journey.