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Case-Shiller Index shows continued drop in housing prices

January 25, 2011

The Case Shiller released the numbers for November this morning and, as expected, they were disappointing.  The drop in value for the 20 city index showed a decrease of roughly 1.6% (1% when adjusted for seasonality), which was the biggest drop since December of 2009.  Being the eternal optimist, I would say that this is not all bad news.  If you are a buyer looking to purchase in the Spring market this represents continued opportunity to secure a home at near record low prices.  Contrary to popular belief, loans approval is not impossible.  Qualified borrowers are, by all means, getting approved on a regular basis.  Additionally, rates continue to stay near record lows.  So, my contention is that if you make lemonade out of these lemons, it is time to do so.

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