Blog
When are Real Estate Values Going to Start Going Up?Property values won’t increase before 2013. The reason I say this is, because of several reasons. Firstly, mortgage money is still only available for those with outstanding credit. That means that many people are still lock out of the mortgage market. Secondly, there is a large supply of homes for sale. In the area which I work, the Lower Hudson Valley, most neighborhoods have one to two years supply of homes for sale. This large supply will keep property values down until that oversupply is gone. Thirdly, foreclosures and properties that are just about going into foreclosures are a drag on values. There are two million foreclosures and another two million homes going into foreclosure. Thus, no turn around in real estate values for at least the next few years.- Bruce Sokol |
Download authorization form and fax it back to us »
Click here for assessment ratios »
Bruce Sokol & Associates
Specializing
in Property Tax Reduction
| Westchester
New York Office: 405 Tarrytown Road | Suite 1283 | White Plains, NY
10607 | Tel: 914.239.3483 | Fax: 914.663.8171 Rockland County New York Office: 41 Winesap Lane | Monsey, NY 10952 | Tel: 845.362.2383 | Fax: 845.354.5935 Email Bruce Sokol and Associates at bsokol@retax.com |