Are house prices in your neighborhood higher, lower, or the same from last year?

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i would say the prices are the same but they are just sitting no one is buying them.. we live in a rural community wich will cost people more money to live in since they will have to pay gas to get to town and jobs.. so the low cost of living here is not enough to entice people right now with inflation prices out there.

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Measure wealth not by the things you have, but by the things you have for which you would not take money.

I think housing prices here have dropped, the market is saturated with homes for sale and people are dropping the prices just to sell. It makes me so glad we have no intention of moving any time soon!

Surprisingly ours have gone up.Our neighbor just sold her house that is about 200 Sq feet larger, but in need of many repairs and has no upgrades for 2000 under her asking price which we in the neighborhood thought was unreasonable all things considered. Apparently not, so now it has got us thinking about moving again.

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Ours have done both. The homes in town have gone down...but if you have a home with land for farming the value has gone up because the fields are in demand.

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Ours have gone up (ridiculously), and the thing is, is that there is absolutely NO reason why. Our town has pretty much nothing to offer people except for those in retirement. Our county has the highest unemployment rate and is the poorest county in the whole state. People are asking these outrageous prices for their homes and no one is buying. This is all because we recently had a well known family get more than twice as much out of their house than what it was worth to a couple from California (sight unseen) who thought they were getting a steal. Now everyone is hoping to get lucky. There is a house I know of that sold for $40,000 two years ago, and we just did a walk through (the owner is someone I know from a local business) and she and her husband did NOTHING to the home and are asking $80,000 for it. I know they did nothing because they bought it from one of my friends, who completely remodeled the place.

Also, the land outside of town has also gone up a ridiculous amount, we were looking to buy some land in the next couple of years, but now there is no way, because people are asking around $5-6,000 an acre where it is really only worth about $1-2,000 an acre.

It's driving me CRAZY.

prices are down.
In my neighborhood, all the houses are the same model (built in the 60's, 3bdr, 1ba, 1100 sf, 1 car garage, postage stamp yard). I know folks who bought their house 2 years ago for 660k and now similar houses are listed at 625k and according to real estate postings from realtors, are actually selling for 560-580k. Ouch! California, ugh.
we rent and will continue to do so

Prices are pretty much the same but they're not selling as fast. I believe eventaully people are going to have to start lowering their prices and stop the insane amount of building that they have done but that hasn't happened yet.

It was funny to read a couple of these posts, Telanie and Brensmom -- as they were similar to my area.

It seems to be about the same as when we bought our house in Nov 2006.

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Roughly the same, and they're selling, but staying on the market longer than before.

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