Man this story is just as good "free" on Wednesday as it was in the paper on Sunday. And no trees were harmed in the process of reading it.

This is just how the market is, so if the competition is selling a comparable house for less than either (1) lower your asking price or (2) take your house off the market. People have to get over the idea of the housing boom in the past and understand the true value of their home right now.

I have friends who have had their townhome on the market for 18+ months. It's a great place, in wonderful condition, with many updates, and on a dead-end street. While they get a fair amount of showings, the feedback that has been coming back is that people are opting to buy distressed properties to get more bang for their buck. In the interim, my friend's family has gone from three to four, and they have really outgrown their current space. Unfortunately, with the market as it is, they're stuck where they are unless they're willing to walk away without any cash or even at a loss. The long, dark days of the housin crisis may be yet only beginning.

Ypu are right about that but also keep in mind how foreclosers are killing the values. In my home complex the everage pricing early thins spring was 135,500 with 3 FC, it has dropped to 120,000! All because people are running out of there homes and the banks are just getting rid of them for any price! That kills regualr home owners value when they want to sell.

just to sell your house???? Then you are not going to sell your house. Geeez. The loss is already there. You are now paying a mortgage on a house that is worth less than it once was. The loss is there. You just haven't realized it yet. And those of you who keep saying "it will come back". Maybe when the administration allows a million dollar credit for new home purchases all of your houses will go up in value. Until then, supply and demand will rule.

As far as I know, a fair price on a home is what someone is willing to pay for it. If you only have 2 people looking at your house then you might want to wake up and lower your price.

It's amazing that people are buying fixer-upper foreclosures...they have a price too. They are often in bad parts of town, and it can cost just as much to fix up a place as it would to just buy a place that's already in good condition.

If people can't sell their home, then they should rent it out. Obviously, you need to be careful in finding renters, but nobody is going to get a good sales price right now. Rather than being miserable in your house, you can just rent it out, buy your new home, and let someone else pay off your old mortgage.

If people can't sell their home, then they should rent it out. Obviously, you need to be careful in finding renters, but nobody is going to get a good sales price right now. Rather than being miserable in your house, you can just rent it out, buy your new home, and let someone else pay off your old mortgage.

Investors are buying foreclosures at a discount and rehabbing them. This increases the value of the neighborhood and houses down the road. Would you rather have boarded up foreclosures on your block or people buying them to fix them up and resell them at a higher value?