Home property value survey

UCBChemEGrad
Tue, 01 Jul 2008 00:16:19 +0000

San Fernando Valley, Los Angeles, CA, 3 bedroom, 2 bath, 1900 SF, pool, nice neighborhood:
Height of market in 2006: $680,000
Today: $480,000 (and still dropping).

The only way the bottom will be reached is when prices fall enough so that people earning average wages for the area can afford a home with conventional financing terms…not the exotic mortgages we saw at the height of hysteria.