TChapman

Is it going down? Obviously the answer is yes. The real question on most people's mind is, "how long will this last?" Our national real estate market is cyclical and it has it's periods of appreciation and growth and then, to correct, it has it's periods of depreciation and a slow market.

Based on the current 'hard to qualify' mortgage market and the general fear most people and investors have of buying in a declining market, the prices will continue to drop.

In my opinion, with the ongoing cuts to the fed funds rate, in this upcoming election year, our declining market will hit a temporary 'plateau' next year before finishing the decline in 2010. My belief is that we will hit that major plateau in 2010 and will most likely endure a couple years of moderate adjustments up/down to our local market before we hit our next real 'up' market.

-Trent