The Bottom

Speculation is still circling around whether or not we have "hit bottom". I have read market reports that insist the real estate market will still drop 10%. Meanwhile, markets like those out west and in the mid-west, markets that have been in crisis for years, are starting to see a low but steady recovery. Overall, the National Association of Realtors reports a sizable increase in sales in the last three to four months. Certainly the $8000 federal credit might have helped. The Spring was lukewarm here in Hoboken, but the summer was a bit better than expected. Of course, no one knows if we have "hit bottom" but the freefall has certainly stopped here in Hoboken. Though I do not think we will see any increase in prices any time soon (prices having dropped 20$ from the height of the market), I don't think we will see a further decline...I think we will hold steady where we are now. That is just my opinion, now twelve years in the business.... for what it is worth.